The median sale at Bangsar, Kuala Lumpur, Malaysia is RM 1,200,000
Bangsar is one of Kuala Lumpur’s mature and affluent suburb, just minutes away (about 5km) from Kuala Lumpur city centre (KLCC). Take a drive around Bangsar and you will see beautiful homes, countless cafes and neighbourhood malls. The vibrant commercial hub in the Telawi area caters to the needs of more discerning expatriates and yuppies, and remains a big draw for coffee-swilling hipsters too.
Being a mature, upmarket neighbourhood that was very much developed by the 1990s, Bangsar features both landed and non-landed homes, with a selection of older and newer types of the latter. These present quite a spread for buyers to choose from.
Among the few recent developments in the area are luxury condominiums such as One Menerung and Ken Bangsar, The Loft and [email protected] There are also many gorgeous bungalows in Bangsar, with some by the hillside overseeing spectacular views of Kuala Lumpur city centre and even the Twin Towers.
Strategic and evergreen location
Condominiums in Bangsar, KL have appreciated by around 94% to 167% over the past 17 years (as at October 2018). For instance, condominiums in Bangsar (Sri Penaga, Cascadium and Tivoli Villa) had been transacted at an average RM366,333 in 2001 before rising by about 167% to almost RM980,000 in 2017.
Bangsar is also very accessible to numerous highways and perhaps it is one of the reasons why traffic seems to be always rather heavy there. It is safe to say that almost everybody would like to own a property in Bangsar, and property prices have been steadily growing through the years due to high demand of properties there and its fantastic and convenient location.
According to Savills’ data as at October 2018, single-storey terraced houses in Bangsar which averaged RM375,000 in 2001, jumped to RM635,000 in 2010 and RM1.27 million in 2017, recording a capital appreciation of 239%.
Double-storey terraced houses in Bangsar, which were sold at around RM620,000 in 2001, saw their average selling price climb past the RM1 million mark in 2010 and reached RM1.65 million in 2017, a price increase of 166%.
Bangsar has a good mix of expats and local residents, which makes it a unique community with a good variety of offerings in terms of F&B, retail and entertainment. For example, while the Lucky Garden shops attract more locals, the Jalan Telawi area has a good mix of retail and F&B offerings that attract both locals and expats.
The good mix of different cultures and elements within the neighbourhood is what makes Bangsar attractive to homebuyers. In addition, land scarcity, growing population and the business activities there also support the price growth of the properties in Bangsar.
Although Bangsar’s property prices are far from what one would call affordable, homes here are still in high demand.
“For instance, a single-storey terraced house located close to the main road has exceeded RM1.2 million and is still moving northwards whilst the old 2-storey terraced houses in Jalan Terasek are asking for around RM1.7 million,” according to Savills Malaysia managing director Datuk Paul Khong.
He reminded interested buyers to set aside another RM750,000 to RM1 million for refurbishment as most landed houses in Bangsar are old and may require renovations and improvement to suit modern needs.
Meanwhile, one can use the SPRINT highway to reach Sri Hartamas, Mont’Kiara, Damansara and the Kuala Lumpur city centre via Jalan Kuching. There is also the New Pantai Expressway (NPE), Penchala Link and Federal Highway. As for public transportation, the Bangsar LRT station along the Kelana Jaya line and the Pusat Bandar Damansara MRT station serve the outer fringes of the Bangsar area. Commuters could also can hop onto the selected RapidKL bus services in these two stations to get to other areas of Bangsar – in the case of the MRT station, a feeder bus.
It is hard to miss the bungalows along the thoroughfare of Jalan Maarof in Bangsar, Kuala Lumpur. Originally designed as residential premises, they are now car showrooms, art galleries, furniture shops, professional offices and more.
Many of their original owners found it difficult to live at the location because the bungalows fronted the main road. For this reason, many are now permitted for limited commercial use after permission is obtained from Kuala Lumpur City Hall (DBKL).
Amenities and Facilities
Aside from that, there are medical centres such as Pantai Medical Centre in Bangsar and Universiti Malaya Medical Centre nearby. There are also two golf courses close to Bangsar – Kelab Golf Perkhidmatan Awam and Kuala Lumpur Golf & Country Club – just minutes away from Bangsar.
Aside from the neighbourhood malls such as Bangsar Shopping Centre (BSC), Bangsar Village and Bangsar Village 2, it is also minutes away from Mid Valley Mall, one of the largest mall in Malaysia. Meanwhile, The Food Purveyor, which operates the Village Grocer, Ben’s Independent Grocer (B.I.G) and Pasaraya OTK, is in the midst of curating a new concept that will cater to BSC’s affluent customers. This is after Hong Kong's Dairy Farm International Holdings Ltd (DFI) prepares to shut down its upmarket grocery brand Jasons Food Hall by March 2020.
The yet-to-be-named outlet is expected to occupy some 33,000 sq ft of retail space, which is larger than the space occupied by Jasons.
Moreover, be spoilt for choice with a large array of cafes and eateries in the area – specially the Jalan Telawi area with popular choices including VCR, PULP, Lisette’s Cake & Bakery, Yeast Bistronomy
Neighbourhoods within Bangsar include Bukit Bandaraya, Bangsar Baru, Pantai Hills, Bangsar Utama, Lucky Garden and Bangsar Park. More recently, there is also Kampung Kerichi or popularly known as Bangsar South which is developed by UOA Holdings Bhd. It has rejuvenated the area with modern office towers, mid to high end condominiums, as well as a good mix of restaurants and retail outlets.
|Project / TownShips||Type||Median Price Psf||Median Price||Filed Transactions|
|Bangsar Baru||Terrace House,Detached House,Semi-Detached House||RM 847||RM 1,926,263||125 Transactions|
|Bukit Bandaraya||Detached House,Terrace House,Semi-Detached House||RM 774||RM 3,776,080||113 Transactions|
|Bangsar Park||Semi-Detached House,Detached House,Terrace House||RM 682||RM 2,024,369||97 Transactions|
|Lucky Garden (Jalan Bangsar)||Terrace House,Detached House,Semi-Detached House,Flat||RM 650||RM 1,734,581||87 Transactions|
|Sri Penaga||Condominium/Apartment||RM 916||RM 1,477,710||73 Transactions|
|Tivoli Villas||Condominium/Apartment||RM 730||RM 786,848||72 Transactions|
|One Menerung||Condominium/Apartment,Terrace House,Town House||RM 1,319||RM 5,431,822||69 Transactions|
|Gaya Bangsar||Hotel/Service Apartment||RM 878||RM 932,737||58 Transactions|
|Putra Ria||Flat,Condominium/Apartment||RM 255||RM 165,982||55 Transactions|
|Jamnah View||Condominium/Apartment||RM 1,064||RM 1,258,938||54 Transactions|
|Bedrooms||Sale Price||Monthly Rent||Rental Yield|
|1||RM 871,954||RM 2,929||4.03%|
|2||RM 1,048,840||RM 3,878||4.44%|
|3||RM 1,950,213||RM 5,372||3.31%|
|4||RM 4,409,401||RM 11,077||3.01%|
|5||RM 6,433,341||RM 11,094||2.07%|
|Sector||Price Psf (Non Landed)||Price Psf (Landed)|
|Area Average||RM 757||RM 769|
|State Average||RM 475||RM 508|