PROPERTY SNAPSHOT 1: Sentul average price up 38.3% y-o-y in 1Q2015

•    This week, the spotlight falls on the secondary market of non-landed residences in Sentul, Kuala Lumpur. Areas covered are anchored by Jalan Sentul and include Taman Pelangi, Bandar Baru Sentul at the north and YTL Land & Development Bhd’s Sentul East redevelopment at the south.

•    Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed homes here has hit a new peak of RM424 per square foot (psf) in 1Q2015. This represents an outstanding 38.3% y-o-y increase from RM306 psf in 1Q2014.

•    On closer observation, the surge in the average price is primarily due to the lack of transactions in the lower-end segments which will likely be reflected as the transactions database is further updated.

•    Transaction activity suggests a general cautiousness with total transaction volume for the 12 months to 1Q2015 falling 32.5% y-o-y from 308 units to 208 units.

•    Prices and transactions are likely to pick up with the recent completion of The Capers at Sentul East. The Fennel is still under construction. Both condominiums are part of YTL Land & Development’s Sentul Masterplan, an ongoing urban renewal project, which sees the area now home to the KL Performing Arts Centre, Sentul Park, and numerous modern condominiums and office buildings.

•   Other ongoing projects include Sentul Village by UOA Group, Maxim Citylights and Sky Awani Residence. All are located north of Jalan Sentul and feature residential towers atop retail podiums.

Want to know the price trends at The Capers. Click here.

The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.