PROPERTY SNAPSHOT 4: What’s hot in Kerinchi/Pantai?

•    Today, we look at price growth and indicative asking rental yields for non-landed residences in the district of Kerinchi/Pantai. From analysis of transactions by TheEdgeProperty.com, the average transacted price for non-landed residences in the secondary market was RM518 per square foot (psf) in 1Q2015.

•    Overall, capital values do not seem to have changed significantly. The low-to-mid-end segment appears to lead in terms of average price growth with the exception of Zehn Bukit Pantai. The luxury condominium registered the highest average price growth, gaining RM74 psf y-o-y to reach an average of RM731 psf in the 12 months to 1Q2015.

•    The rental market is largely driven by the student population at the nearby University of Malaya. Based on observed asking rentals, the highest indicative annual yields, at 8%, can be found at Vista Angkasa. Located just opposite the university campus, this affordable condominium comprises up to 1,000 residential units ranging from studios to 4-bedroom apartments. Residents here also enjoy easy access to public transport with the Universiti LRT Station within walking distance.

•   Other well-known student accommodations are the Pantai Hillpark projects. Both Vista Angkasa and Pantai Hillpark residents enjoy the Rapid KL Bus service to University of Malaya. Monthly rental rates are fairly similar to those at Vista Angkasa, with a typical 3-bedroom unit renting at about RM2,000 per month. However, as the Pantai Hillpark projects are slightly more upmarket and unit sizes are larger, rental yields psf here are lower.

Tap here for price trends at Vista Angkasa.

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.