RM70,000 (RM5.61 psf based on built-up size)

DONE DEAL: Office, Megan Avenue 1, Jalan Tun Razak, Kuala Lumpur

DONE DEAL: Serviced residence, Tropicana The Residences, Jalan Ampang, Kuala Lumpur

Southeast of KLCC, in between Ampang and Kajang, is Cheras. Average transacted prices for commercial properties in Cheras from 2022 to 2023 saw a massive increase (RM449 psf to RM844 psf). This trend is likely to continue to 2024.

According to Xiaxun Ong (PEA1382) (017-300 6665) of One Maker Realty Sdn Bhd who closed the deal, the landlord recognised the potential of the property as a creative hub. The new tenants were looking for suitable premises to set up their niche business, and found the property suitable.

As of April 2024, the average price for commercial properties in Cheras is around RM1.1 million, or RM672 psf. If you’re interested in residential listings on EdgeProp near Viva Mall, there are two for sale, with an average asking price of RM311,400 or RM210.28 psf. There is one rental listing with a monthly rental of RM1,200 or RM3.70 psf.

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