PROPERTY SNAPSHOT 1: Tropicana/Sunway Damansara market stable

•    This week, the spotlight falls on the secondary market of non-landed residences in Tropicana and Sunway Damansara in Selangor. Straddling the more commercial areas of Bandar Utama and Mutiara Damansara, both are fairly similar residential areas, consisting primarily of landed properties.

•    Nevertheless, Tropicana remains a notch higher in exclusivity, boosted by upscale projects and the Tropicana Golf & Country Resort.

•    Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed homes had remained fairly steady over the past year at RM518 psf in 1Q2015. This represents an 8.6% y-o-y growth from RM477 psf in 1Q2014, following an 8.3% y-o-y growth in the preceding year.

•    On the other hand, transaction activity fell. Transaction volume for the 12 months to 1Q2015 retreated 25.9% y-o-y from 463 units to 343 units.

•    Both the average price and transaction activity are expected to pick up again with the development of Tropicana Gardens at Persiaran Surian. With a gross development value of RM1.8 billion, the integrated development will include a shopping mall, a hotel, office suites and serviced residences. The development will also be connected to the Persiaran Surian MRT station.

•    The local property market has much to gain with both the Sungai Buloh–Kajang MRT Line and the Bandar Utama–Klang LRT Line traversing the region before intersecting at Bandar Utama. Meanwhile, plans are also underway to develop the future Kwasa Damansara neighbourhood west of Tropicana.

Interested in property investments in Tropicana after reading this article? Click here to check out the properties there.

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.