• Today, we continue our focus on Subang and Ara Damansara by looking at average prices on a psf basis. Based on transactions analysed by TheEdgeProperty.com, the average price of non-landed homes in these areas was RM406 psf in 1Q2015.
• The property market in Ara Damansara has benefitted from its proximity to the established neighbourhoods of Kelana Jaya and Petaling Jaya while the property market in Subang has stagnated.
• In the 12 months to 1Q2015, about 29.6% of secondary non-landed residential transactions fell within the RM401–RM600 psf range. The RM201–RM400 psf range accounted for another 27.7% of transactions.
• The most expensive project on a psf basis is Jazz Residences, with an average price at RM771 psf. Several units here were even sold at RM853 psf. Jazz Residences is a student’s residence set within Pacific Place, a larger group of residential blocks.
• Launched by HCK Capital Group, who in turn had bought the condominium from Island Circle Development, buyers in this project participate in an investment scheme which aims to accommodate students of SEGi College. With up to 6% promised in annual rental yield, the average price at Jazz Residences is higher than at the rest of Pacific Place (RM577 psf).
• The next most expensive project is Oasis Serviced Suites (RM740 psf). This serviced apartment is part of Oasis Square, which in turn is part of the earliest phases of Sime Darby Property Bhd’s ambitious Oasis Damansara integrated development.
The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.