These days, people buy homes for more than a roof over their heads. Capital appreciation and steady rental yields are paramount.
With this in mind, any property enthusiast in the Klang Valley would be familiar with Desa ParkCity, sprawling 473 acres of freehold land. (Read: A place one would love to call home)
According to a market outlook and investor guide on Desa ParkCity last year based on the research of Savills Malaysia and Knight Frank Malaysia, the township has performed commendably, with a chained price index showing a gradual uptrend, with estimated growth of 16.7% from 2013 to 2018.
In contrast, the chained price index in the Kuala Lumpur City Centre locality peaked in 2014 before declining sharply in 2015. It should be noted that in 2013, Malaysia instituted a slew of cooling measures to curb speculation. This was on the backdrop of a slowdown in both global and domestic economies.
According to Knight Frank Research, despite prevailing challenges in the property market, the high-rise residential segment in Desa ParkCity performed well during the review period from 2013 to 2018.
“The average translated price of high-rise residential properties in the township grew circa 19.8%, from about RM715 psf to RM875 psf or Compound Annual Growth Rate (CAGR) of 3.7%. The well-planned master development continues to attract high local demand amongst own-stay purchasers and investors,” Knight Frank Research said in the report.
On the average transacted price, Savills Malaysia said all home size categories in Desa ParkCity saw a positive five-year CAGR. (Read: A ‘community of short distances’)
“Since 2013, the average transacted price for high-rise residential units of 1,000 sq ft to 1,999 sq ft has moved upwards by 27.9%, followed by 2,000 sq ft to 2,999 sq ft (6.4%) and less than a 1,000 sq ft (8.4%). The price growth in Desa ParkCity is the highest amongst other areas of coverage including KLCC-Bukit Bintang and Mont’Kiara, signifying its ability to command a premium with its unique concept,” Savills noted.
Meanwhile, EdgeProp Research shows that more than a hundred homes were transacted each year in Desa ParkCity between 2015 and 2019.
In 2020, the non-landed homes and landed homes were transacted at an average of RM860 psf and RM1,294 psf, respectively.
To date, the most transacted non-landed homes in Desa ParkCity are the One Central Park (RM968–RM1,200 psf), The Westside III (RM873 psf) and The Westside II (RM806 psf).
Northshore Gardens which was launched in 2008 at RM480 psf is now being transacted at over RM840 psf — a 75% in capital appreciation.
In August last year, the group launched Park Regent at an average of RM1,100 per square foot and despite the prevailing tough market, they achieved over 70% sales rate during their priority launch. To date, Park Regent has reached almost 90% sales rate.
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Perfecting Communities by ParkCity
The self-sustaining townships of both landed and vertical homes are supported by bustling retail, education, medical and leisure activities. ParkCity is all about creating spaces that bring together the most important parts of life – Family, Neighbourhood, Community, Connectivity and Convenience.Find out more about ParkCity