Section 16 in Petaling Jaya is an upscale neighbourhood that consists mostly of bungalows, where several of those facing the main road are converted for commercial use.
“The buyer liked that the address is in Wilayah Persekutuan, meaning if he wishes to resell in the future, he is able to sell to a foreigner,” Tan shared.
She added that the buyer was also attracted to the good condition of the house as the seller renovated the house about five years ago while most houses in that area are 30 years old and above with very limited refurbishment.
Meanwhile, the seller, who had been occupying the house all the while, was selling the house as he was migrating overseas.
According to EdgeProp Research data, four bungalows in Section 16 were sold in 2019 with an average price of RM2.99 million or RM334 psf. No transaction recorded in 2020.
As at March 10, 2021, there were 24 bungalows listed for sale on EdgeProp.my with an average asking price ranging between RM381 and RM600 psf, while two bungalows were listed for rent with an average asking monthly rental ranging between RM1 and RM1.88 psf, or RM10,000 and RM15,000 a month.
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