The median sale at Segambut, Kuala Lumpur, Malaysia is RM 581,500
A sub-district and a parliamentary constituency in Kuala Lumpur, Segambut is located in the northern area of KL close to Kepong, Desa Park City and Seri Sinar. In the early days, Segambut was known for its light industrial areas, rubber tree plantations and rural areas in Segambut Dalam and Kampung Sungai Penchala. The humble beginnings of Segambut gave way to its rapid transformation at the onset of the mid-1990s, when developers earmarked the area as a potential property development hotspot and Mont’Kiara began to emerge as an affluent residential enclave.
Today, Segambut is home to a diverse population base with residential properties traversing both ends of the spectrum – from luxury high-rise condominiums in Mont’Kiara to the middle-class homes in Taman Segambut and Bandar Manjalara to the rural village houses in Segambut Dalam. Nonetheless, the high-end properties, full-fledged amenities and facilities, and proximity to KL city centre has made Mont’Kiara sought after by locals and foreigners, resulting in a large expat population in the area.
However, the appeal of an upscale Mont’Kiara address, coupled with the scarcity of existing land has pushed new developments across the Mont’Kiara boundaries into Segambut Dalam, where village houses and squatter settlements are demolished to make way for luxury condominiums. In recent years, the newly developed areas within Segambut has been rebranded as North Kiara, although there is no clear demarcation of North Kiara’s boundary.
The urbanisation of Segambut is accelerated by the rapid development of Mont’Kiara, bringing a plethora of facilities and amenities to the area. The French School of KL, Garden International School and Mont’Kiara International School are just a few minutes away from the residential enclave of Mont’Kiara, catering to expats and locals, while recreational facilities such as TPC KL (formerly KL Golf & Country Club), Royal Selangor Club and Bukit Kiara Equestrian & Country Resort are within the vicinity of Segambut.
There are no shortages of retail centres either, with Hartamas Shopping Centre, Publika Shopping Centre, Plaza Mont’Kiara and 1 Mont’Kiara within easy reach. The MATRADE Exhibition and Convention Centre is located in the suburb of Segambut, offering a trade centre, exhibition hall and convention centre.
Segambut is accessible via a broad network of highways, including Duta–Ulu Klang Expressway (DUKE), SPRINT Highway, Penchala Link, Kerinchi Link, New Klang Valley Expressway (NKVE) and Damansara-Puchong Expressway (LDP) as well as Jalan Segambut, Jalan Kuching, Jalan Duta and Jalan Ipoh. Segambut is served by the KMT Komuter Line which runs from Tanjong Malim to Port Klang via KL Sentral and other stations.
The area of Segambut adjacent Mont Kiara is commonly known as North Kiara. North Kiara is not a geographical area that is officially named of defined by the authorities, but more a term used by property developers for marketing purposes to boost the image of their projects, which are located next to Mont Kiara.
Residential developments that can be considered within North Kiara include Kampung Segambut Dalam, Bukit Prima Pelangi, Bukit Seri Bintang, Duta Ria Condominium and Prima Duta Condominium. High-end and low-density landed residential develppments include Mesra Terrace, Villa Pines, Garden Villa (Laman Villa) and The Serai. Newer completed residential deevelopments include Verdana by BRDB Developments Sdn Bhd , Suria @ North Kiara and Scenaria @ North Kiara by UOA Development Bhd, Concerto North Kiara by BCB Bhd, and Anjali North Kiara by Tago (M) Sdn Bhd.
The most prominent landmark in North Kiara is the French School of Kuala Lumpur, and international school. Other amenities in the area include government schools, places of worship, eateries and government clinics.
According to PPC International Sdn Bhd managing director Datuk Siders Sittampalam, North Kiara has always shared amenities that are located in Mont Kiara such as shopping malls, medical centres, international schools and high-rise office buildings because of its size and population. The focus in the area has generally been on the development of low-density residential schemes.
Owing to its proximity to Desa ParkCity, North Kiara also benefits from the amenities there, Hartamas Research says. North Kiara is connected via the New Klang Valley Expressway, North-South Expressway, Duta-Ulu Klang Expressway (DUKE). It is accessible from Mont Kiara via Jalan Kiara 3 while from Kepong and DUKE 2, the connecting road is Jalan Lang Emas. The access road to Kuala Lumpur is Jalan Segambut while to Dutamas, they are Jalan Duta and Jalan Kuching.
North Kiara used to have many kampung houses and vacant agriculture plots, and its residents were mainly Malay, says Henry Butcher Sdn Bhd chief operating oficer Tang Chee Meng. The area's transformation is attributed largely to a spillover from Mont Kiara as development land become scarce, explains Siders.
Tang concurs, adding that the area is immediately adjacent to Mont Kiara and the cost of land is comparatively lower. "As the cost of land is lower, it is supportive of more affordably priced projects."
Properties in North Kiara are a mix of low, middle and high-end housing schemes, with high-rises being the most recent trend, says Siders. "Landed properties in the area are mainly owner-occupied whereas non-landed properties see a good mix of owner-occupiers and investors."
The area, he adds, is considered as a mid-range residential market that attracts the bottom 40% (B40) and middle 40% (M40) groups. Tang, meanwhile observes that the profile of buyers in the area is mainly middle-income and Chinese, with some bumiputera buyers.
One of the major drawbacks of North Kiara is the traffic convestion. This is mainly because its only link to Mont Kiara is Jalan Kiara 3, says Tang. "In the future, there will be another access road, Jalan Kiara 4, between Mont Kiara and North Kiara. It is being built by DBKL," he adds.
Jalan Segambut is currently being upgraded from a two-lane to four-lane carriageway. Siders says, however that the road-widening works have been rather slow. "The traffic diversion and narrowing of roads owing to construction has caused traffic congestion, especially during peak hours."
The upgrading work is divided into four phases. Tang says Phases 1 and 4 have been completed while Phase 2 is slated to start this year and be completed in 18 months. The start date for Phase 3 has not been announced. Road-widening work is also being done at Jalan Segambut Dalam, which continues from Jalan Kiara 3 to the intersection of Jalan Segambut and Jalan Lang Emas, says Hartamas Research. The agency says the works will take some time as DBKL has to negotiate individually with the owners of the houses along the road to surrender their land. Another challenge is floods, caused by overdevelopment and improper discharge plans.
Hartamas Research says there ar elimitations as to the density and numbe rof units a developer can build because most of the land here is under residential titles. "It may affect the final product being released to the market because developers need to find a balance between built-up and absolute selling price. Building big units and maximise the density but it would affect the take-up rate and the absolute selling price would be high. On the other hand, building small units with the intention to lower the absolute selling price can speed up the take-up rate but it may affect the developer's profit," the agency explains.
There have not been many launches in North Kiara over the past two years owing to the scarcity of development land, say property experts. "The floods and traffic congestion may be contributing factors to North Kiara not being a 'most sought after' area as compared to Mont Kiara," Siders says.
Tang believes resistance from current residents to more high-density development in the area is another reason. In addition, some owners are hanging on to their land, waiting for the right time to launch, observes Hartamas Research.
Nevertheless, the relatively lower pricing in North Kiara, paired with its accessibility and proximity to Mont Kiara and Desa Parkcity, has attracted people to buy homes and live there, Hartamas Research says.
Tang says older residential properties are fetching about RM550 psf compared with RM450 to RM700 in Mont Kiara. The price of newer units range from RM500 to RM900 psf in North Kiara and RM700 to RM1,300 psf in Mont Kiara.
"The potential price appreciation arising from further improvement and development of the area is another factor drawing house seekers to the area," he adds.
Transacted prices in North Kiara have increased conservatively on an average of 6% to 10% over the past five years, depending on unit size and furnishings, says Hartamas Research.
It adds that the current market price for newer residential properties in North Kiara is about RM600 to RM650 psf on average while the rental rate is between RM2 and RM2.80 psf, depending on the size and furnishings.
Alix Residences by TA Global Bhd is the most recently launched development there. Property developers such as Kerjaya Prospek Group Bhd, LLC Bhd and BT Homestead Development Sdn Bhd have land in the area.
Hartamas Research says Bon Estates Sdn Bhd and Symphony Life Bhd have upcoming projects along Jalan Segambut Dalam, where it continues to Jalan Kiara 3.
According to Siders, the average built-up of landed houses - superlink houses, semi-detached houses and bungalows - is between 3,100 and 4,900 sq ft while high-rise developments have an average build-up of 1,400 to 2,800 sq ft.
While it has shortocmings, property experts believe North Kiara's future is promising.
Siders says most young adults and young families prefer to live in North Kiara as it is close to their workplace in the city centre. "They get to enjoy the facilities and amenities in Mont Kiara while paying a lower price for a home in North Kiara."
Tang sees North Kiara becoming more atrractive as developers run out of development land in Mont Kiara. "As North Kiara develops further, the living environment as well asthe range of facilities and amenities will pimprove, making it a more conducive place to live in. Once the road widening and imrpvement works are done, the traffic congestion problem will be at least alleviated, if not eliminated," he says.
Hartamas Research believes there will be demand for houses in the area depending on the pricing of upcoming developments. "The future completion of the road widening of Jalan Segambut Dalam will definitely increase the appeal of North Kiara."
*Section on North Kiara is adapted from City and Country August 3 2020 issue of The Edge Malaysia
|Project / TownShips||Type||Median Price Psf||Median Price||Filed Transactions|
|Taman Sri Sinar||Terrace House,Low-Cost House||RM 611||RM 420,786||229 Transactions|
|Taman Sri Segambut||Terrace House||RM 379||RM 597,618||116 Transactions|
|Nova||Condominium/Apartment||RM 377||RM 319,696||91 Transactions|
|Scenaria (Laman Scenaria Kiara)||Condominium/Apartment,Terrace House||RM 633||RM 672,100||75 Transactions|
|Taman Sri Bintang||Terrace House||RM 556||RM 851,072||56 Transactions|
|Prima Tiara 1||Condominium/Apartment,Flat||RM 384||RM 362,592||49 Transactions|
|Mandy Villa||Condominium/Apartment||RM 328||RM 332,834||48 Transactions|
|Villa Crystal||Condominium/Apartment||RM 560||RM 820,520||41 Transactions|
|Anjali North Kiara||Condominium/Apartment||RM 622||RM 1,205,930||37 Transactions|
|Plaza Sinar Apartment||Condominium/Apartment,Flat||RM 344||RM 273,164||36 Transactions|
|Bedrooms||Sale Price||Monthly Rent||Rental Yield|
|1||RM 475,143||RM 1,562||3.94%|
|2||RM 445,925||RM 1,675||4.51%|
|3||RM 610,833||RM 2,087||4.1%|
|4||RM 861,551||RM 3,376||4.7%|
|5||RM 1,663,143||RM --||--|
|Sector||Price Psf (Non Landed)||Price Psf (Landed)|
|Area Average||RM 397||RM 506|
|State Average||RM 475||RM 508|