EdgeProp Research: Transaction prices trending down in Wangsa Maju and Setapak

Amidst a tough year in 2020, Wangsa Maju has recorded 81 residential property transactions in the first three quarters last year, while Setapak saw 204 residential properties change hands, according to EdgeProp Research.

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Condominiums (including serviced apartments) were the most transacted property type, where Wangsa Maju recorded 58 sales and Setapak saw 143 condominium units sold.

Based on EdgeProp Research data, Wangsa Maju residential property prices have been fluctuating over the years (from 2012 to 3Q2020), especially for the landed property segment. For instance, the average price for bungalows surged to RM812 psf in 9M2020, from RM723 in 2019.

For condominiums, prices have stayed at RM400 psf and above since 2015. However, the average selling price dropped to RM405 psf in 9M2020, from RM417 psf in 2019.

In Setapak, overall transaction prices for different types of residential properties were lower than Wangsa Maju and all segments’ transaction prices were declining in 9M2020, except for the terraced house segment.

The average transaction price for terraced house in Setapak increased to RM436 psf in 9M2020, from RM416 psf in 2019. 

This story first appeared in the E-weekly on March 5, 2021. You can access back issues here.

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