PROPERTY SNAPSHOT 1: Bangsar average price unchanged

•    This week, the spotlight falls on the secondary market of non-landed residences within the highly popular neighbourhood of Bangsar.

•    Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed properties have remained steady at RM756 per square foot (psf) in 1Q2015. This represents an insignificant 0.1% y-o-y difference from RM755 psf in 1Q2014.

•    The average price had peaked at RM809 psf in 3Q2014. However, the sudden spurt of the average price then was due to a higher than usual volume of units sold at One Menerung.

•    The cautiousness observed in average prices is also reflected in the transaction activity. Transaction volume for the 12 months to 1Q2015 retreated 32.6% from 230 units to 155 units.

•    Bangsar has maintained its reputation as a chic and upmarket area. Among future catalysts is the upcoming Pavillion Damansara Heights mixed-development nearby. The RM7 billion project will include 13 office blocks, serviced residences, hotel rooms and a five-storey retail podium with about 1 million sq ft of net lettable area. Located just across Lingkaran Damansara, Pavillion Damansara Heights will also benefit from the upcoming Pusat Bandar Damansara MRT Station due in 2017.

•    Other future developments in the area include the redevelopment of the former Unilever Malaysia site at the intersection of Jalan Maarof and Jalan Bangsar. Pelaburan Hartanah Bhd has plans to redevelop the 19.6-acre parcel into a mixed development. Meanwhile, UDA Holdings Bhd will be redeveloping Kompleks Niaga Utama into serviced apartments.

Do not ask your BFF about the value of your home. Click here at The Edge Reference Price to find out.

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.