PROPERTY SNAPSHOT 4: What’s hot in Tropicana/South Sunway Damansara?

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

•    Today, we look at price growth and indicative asking rental yields for non-landed residences in the Tropicana and South Sunway Damansara area.

•    Prices on the secondary market here are strong, mirroring that of adjoining Kota Damansara. A major catalyst is the Tropicana Gardens project, which includes an MRT station and a mall, where residences were launched at over RM1,000 per square foot (psf). Properties located closest to Tropicana Gardens are Casa Indah 1 and 2, Opal Damansara and Cita Damansara, which have seen a sharp increase in prices. 

•    In the middle-class segment, Opal Damansara and Casa Indah 1 both recorded strong gains in average transacted prices. The average price psf at Opal Damansara grew 28.4% y-o-y to RM579 in the 12 months to 3Q2014. At Casa Indah, average prices grew 21.3% to RM627 psf.

•    Lower and mid-priced apartments also displayed strong capital gains, with Permai up 24.3% to RM202 psf and Bayu Puteri up 18.8% to RM470 psf.

•    From an observation of asking rental prices observed as at June 2015, the Damai Apartments generate the highest indicative asking yields (9.3%) due to its low capital prices (RM155 psf) and compact unit sizes (typically 670 sq ft for a 3-bedroom unit). The average asking monthly rental here is RM1,035 for a unit, or RM1.21 psf. In the middle-class segment, Mutiara Oriental commands higher yields due to its facilities offered, with an asking yield of 5.6%. Generally, properties in the area have an asking annual yield of above 4%, and monthly rental rates of around RM2 psf. 

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.

Related stories:
PROPERTY SNAPSHOT 1: Tropicana preserves exclusivity
PROPERTY SNAPSHOT 2: What’s affordable in Tropicana?
PROPERTY SNAPSHOT 3: What are developments priced like in Tropicana?