PROPERTY SNAPSHOT 4: What’s hot in Jalan Ipoh?

•    Today, we look at price growth and indicative asking rental yields for non-landed homes in Jalan Ipoh. From analysis of transactions by TheEdgeProperty.com, the average transacted price for these properties in the secondary market was at RM509 per square foot (psf) in 1Q2015, gaining 14.9% y-o-y.

•    Overall, capital values in Jalan Ipoh have grown slightly. The highest relative price growth was at Pelangi Indah, with the average price up 23.9% y-o-y to reach RM276 psf in 1Q2015. This was followed by Permai Ria Condominium (up 21.2% to RM304 psf) and Sri Intan (up 20.1% to RM316 psf).

•    Demand at these projects are likely buoyed by the upcoming MRT Sungai Buloh-Serdang-Putrajaya Line due in 2022. Permai Ria is within walking distance to the Kampung Baru Interchange while Pelangi Indah and Sri Intan are located close to the Kentonmen station.

•    Rental rates as observed in June 2015 from asking rentals vary based on location and age. In general, the highest rental rates were at the newer properties located closer to the city, such as at Viva Residency and Putra Majestik.

•    However, the highest yields can be found at Menara Megah with an indicative annual yield of 6.3%. The project is among the closest to the city centre. Elsewhere, Pelangi Indah appears to generate fairly high yields (5.9%) despite the appreciation of capital values here.

Click here for the price trends at Pelangi Indah.

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.