PROPERTY SNAPSHOT 4: What’s hot in Seri Kembangan?

This is the final part in a series of four snapshots on Seri Kembangan.

• Today, we look at price growth and indicative asking rental yields for non-landed residences in Seri Kembangan.
   
• The surge of new developments have buoyed the secondary market. Based on analysis of transactions by theedgeproperty.com, average prices gained 20.6% y-y to RM303 per square root (psf) in 3Q2014.
   
• In the 12 months to September 2014, Megaria Orkid and Red Ruby Apartment appear have outperformed in terms of capital growth, with transacted prices rising 42.7% and 42.6% respectively. Both are walk-up apartments with lower starting capital values.
   
• In the same period, the average price at Belimbing Heights grew 36.1% y-y. This project also charted the highest absolute growth in average prices, up RM80 psf to reach RM303 psf. This project is among the closest medium-cost condominiums to the Mines Shopping Mall. 
   
• From observation of asking rentals as at June 2015, asking rental yields in Seri Kembangan appear to be fairly good, with indicative yields ranging between 3.7% - 6.9% per annum. The rental market here is likely buoyed by the student population, with many universities around including Universiti Putra Malaysia, Asia Pacific University of Technology and Innovation, Perdana University and SEGi College.
   
• Vista Impiana appears to generate the highest asking yields at 6.9%. This is likely due to its compact units, at 830 sq ft for a 3-bedroom unit. Yields at The Heritage Residences are also quite decent, at 6.4% per annum. 
   
• The future MRT Sungai Buloh-Serdang-Putrajaya Line is expected to boost the rental market as Seri Kembangan is strategically located between Putrajaya and Kuala Lumpur City, with five proposed stations.

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