The median sale at Wangsa Maju, Kuala Lumpur, Malaysia is RM 510,000
Wangsa Maju is one of Kuala Lumpur’s largest townships and is located within Setapak. Previously a part of Setapak rubber estate, Wangsa Maju was established in 1984 by PGK Sdn Bhd (now known as MSL Properties Sdn Bhd), a joint venture between Dewan Bandaraya Kuala Lumpur and Peremba Bhd. It is bordered by other parts of Setapak and Gombak.
In the mid 80’s, the township started booming after the opening of 2 academic bodies - The Malaysian Institute of Art and Tunku Abdul Rahman College causing a surge in demand for student accommodation.
Wangsa Maju consists of Seksyen 1, 2, 4, 5, 6 and 10. Besides commercial properties, the area comprises of various types of housing, comprising low- and medium-cost houses, 2-storey terraced houses and 2-storey semi-detached houses.
Being located some 8km away from the KL city centre, the area is easily accessible via major roads Jalan Genting Kelang, Jalan Pahang, Jalan Jelatek and major highways Middle Ring Road 2 (MRR2), Duta Ulu-Kelang Expressway (DUKE), Ampang-Kuala Lumpur Elevated Highway (Akleh) as well as the Setiawangsa-Pantai Expressway (DUKE 3), which is under construction.
As for public transportation, Wangsa Maju is served by three light rail transit stations — Sri Rampai, Wangsa Maju and Setiawangsa — which provide Wangsa Maju residents with greater accessibility. The upcoming Sungai Buloh-Serdang-Putrajaya MRT line will include a station that is Sentul West in the neighbouring Sentul.
The outlook for Wangsa Maju remain positive as the township boasts a healthy student population, which will further support housing rental demand. Meanwhile, the greenery and close proximity to the city centre makes for a pleasant living environment for the working professionals.
Amenities and Facilities
Residents have their pick of several shopping centres 10 to 15 minutes’ drive away, such as Aeon Big hypermarket, Aeon Alpha Angle, Wangsa Walk, Giant hypermarket, Setapak Central and Ampang Point.
There are also several public schools in Wangsa Maju and a number of international schools, such as Fairview, Sri Utama and the International School of Kuala Lumpur (Melawati Campus).
A notable mall is the Wangsa Walk Mall with over 100 tenants that consists of a cinema, bowling alley, fitness centre, bookstore plus a variety of food and beverages outlets. When it comes to dining, Wangsa Maju is a food haven with many F&B offerings scattered throughout the township as well as the neighbouring Setapak.
Other nearby attractions are the Royal Selangor Visitor Centre which offers pewter-making classes, the National Zoo & Taman Tasik Titiwangsa, a popular recreational spot for wholesome family time.
Well-planned township in KL attracts tenants, owner-occupiers (The Edge, June 27, 2022)
Wangsa Maju, which spans 1,200 acres, was developed by PGK Sdn Bhd (now known as MSL Properties Sdn Bhd), a joint venture between Dewan Bandaraya Kuala Lumpur and Peremba Bhd.
"The township, which started its development in 1984, is located in Kuala Lumpur, and bordered by Taman Melati [part of Gombak district in Selangor] Rampai to the west and Ukay Perdana to the east," says Savills Malaysia Sdn Bhd managing director Datuk Paul Khong.
Wangsa Maju is a 20-minute drive from the city centre and is easily assessible via major roads such as Jalan Genting Kelang, Jalan Pahang and Jalan Jelatek, as well as highways Middle Ring Road 2, Duta Ulu-Kelang Expressway and Ampang-Kuala Lumpur Elevated Highway. Upon completion, the Setiawangsa-Pantai Expressway (DUKE 3) will make the area more accessible from the Southern Klang Valley.
Nearby amenities include AEON BiG, AEON Alpha Angle, Wangsa Walk Mall, Giant Hypermarket, SK Wangsa Maju Sekysen 1, Hospital Wanita dan Kanak-Kanak Naluri and Fairview International School. In addition, there are three light rail transit stations - Sri Rampai, Wangsa Maju and Setiawangsa.
PPC International Sdn Bhd managing director Datuk Siders Sittampalam says that Wangsa Maju is divided into sections - Seksyen 1,2,4,5,6 and 10. Developers such as PGK, Beneton Properties Sdn Bhd, Bevelery Group Sdn Bhd, Landmark Bhd, IJM Land Bhd and Tan & Tan Developments Bhd, a wholly-owned subsidiary of IGB Bhd, have a presence in the area.
The now well-established township catered to the low-to mid-range market segments in the early days and has since progressed to more mid to high-end projects.
"It currently comprises a mix of landed and high-rise residential, and commercial developments. Multiple types of residential properties, from low to medium cost as well as several low-density developments, can be found. The general profile of owner-occupiers includes, families, newlyweds, working professionals, students and expatriates," says Siders.
Notable residential developents in the area include Lexa Residence and Fera Residence by Beverly Group, Inifniti 3 Residence and Villa wangsamas by Setapak Heights Development Sdn Bhd, Sunway Avila and Sunway Artessa by Sunway Property, Seri Riana Residences by IJM Land and MSL Properties, and Season Garden Residences by SCP Group.
Residential and commercial rental
Siders says residential and commercial rental rates in Wangsa Maju have been good over the years, with yields between 3% and 5%. The rental market is considered attractive because of its good network of roads and accessibility, as well as excellent public transport facilities such as LRT stations and public buses.
Based on data provided by Savills Malaysia, rents for condominiums in the township with built-ups of 801 to 1,599 sq ft are between RM1,200 and RM2,500 per month, depending on size, development project, condition of unit and furnishings. This translates into yields of 3.5% to 5% a year.
Khong reckons that the residential market is becoming more competitive due to impending new supply. However, considering that a high percentage of the existing condominiums are owner-occupied, this will not have a big impact.
Demand for residential units in Wangsa Maju is good and the general occupancy rates are high. In many of the newly completed projects, the take-up rates are steadily moving upwards. "There will be a good supply of potential tenants renting units in the area, such as new intakes of students, new graduates who will continue to stay on in the area, as well as new families, newlyweds and working professionals who are looking for convenience and want to reside close to the KL city centre. This is due to the affordable rental rates for a location close to the city centre, existing amenities and the connectivity factor with the highways and LRT line," says Khong.
For the commercial segment, Siders says that the 3- to 4-storey, 6,000 sq ft corner shops in Jalan Wangsa Delima; the 3-storey, 6,100 sq ft end lots in Wangsa Metroview; and the 3-storey, 5,295 sq ft intermediate shops in Seksyen 1 command monthly rents of RM14,000, RM13,300 and RM7,100 respectively, which translates into a yield of 4% a year. There is a wide range of businesses there, from printing shops, restaurants, clinics and banks to bookshops, convenience stores, hair salons and pharmacies.
Positive capital appreciation
According to Siders, Wangsa Maju has a good balance of commercial and residential projects that were developed in phases by several developers. The low-rise residential projects have seen good capital appreciation over the years. "As such, we believe the area has good potential for further appreciation in rental and capital values in the post-pandemic era," he says.
The townships' proximity to the city centre, along with good infrastructure, public transport and amenities, will attract a good mix of tenants and owner-occupiers. Siders points out that high-rise residential developments tend to have a higher share of renters/tenants, especially when they are located closer to educational institutions.
Khong opines that the residential rental market is becoming more competitive in the mid-term because of the newly completed units coming on stream. Meanwhile, neighbourhood shops, especially those on the ground floor, will enjoy good occupancy as they serve the local populence. The long-term prospects are brighter owning to limited new supply and growth in the local population (from new completion of condominiums).
"Wangsa Maju will continue to be one of the key residential and commercial areas in KL's northeast due to its stratgic location and supported by existing well-established township neighbourhood." Khong concludes.
|Project / TownShips||Type||Median Price Psf||Median Price||Filed Transactions|
|Bandar Baru Wangsa Maju (Seksyen 1)||Flat,Condominium/Apartment||RM 362||RM 190,885||221 Transactions|
|Bandar Baru Wangsa Maju (Seksyen 2)||Flat,Condominium/Apartment||RM 358||RM 210,618||214 Transactions|
|Villa Wangsamas||Condominium/Apartment||RM 382||RM 522,943||200 Transactions|
|Wangsa Melawati||Terrace House,Detached House||RM 534||RM 725,184||120 Transactions|
|Desa Setapak||Terrace House,Cluster House||RM 674||RM 415,414||98 Transactions|
|Bandar Baru Wangsa Maju (Seksyen 10)||Flat,Condominium/Apartment,Terrace House||RM 328||RM 215,128||91 Transactions|
|Rampai Court||Flat,Condominium/Apartment||RM 449||RM 265,459||91 Transactions|
|Bandar Baru Wangsa Maju (Seksyen 4)||Flat,Condominium/Apartment||RM 368||RM 193,697||89 Transactions|
|Seri Riana Residence||Condominium/Apartment||RM 589||RM 978,522||87 Transactions|
|Bandar Baru Wangsa Maju||Terrace House,Semi-Detached House,Flat,Condominium/Apartment||RM 409||RM 590,683||82 Transactions|
Rent and Sale Prices in Wangsa Maju
|Bedrooms||Sale Price||Monthly Rent||Rental Yield|
|1||RM --||RM 1,134||--|
|2||RM 351,708||RM 1,509||5.15%|
|3||RM 627,104||RM 2,233||4.27%|
|4||RM 778,403||RM 3,354||5.17%|
|5||RM 1,178,778||RM --||--|
Price per Square Foot
|Sector||Price Psf (Non Landed)||Price Psf (Landed)|
|Area Average||RM 354||RM 493|
|State Average||RM 475||RM 509|