property snapshot, bandar utama, damansara
 

  • This week’s spotlight falls on the non-landed residential property market in the prime Damansara area of Petaling Jaya. Specifically, the areas covered here are Bandar Utama, Damansara Kim, Damansara Utama, Mutiara Damansara and Damansara Perdana. Based on theedgeproperty.com’s analysis of transactions, the average price of strata residences here grew sharply in 2013, peaked in 4Q2013 and has since retreated slightly.
     
  • The average price per square foot (psf) was RM493 in 3Q2014, a 16% fall from the peak of RM587 psf in 4Q2013, and a 6.6% y-o-y fall from RM528 psf in 3Q2013. Monthly transaction volume in the secondary market also peaked at end-2013 and was subdued in 2014. Total transaction volume for the 12 months to 3Q2014 fell 24.1% to 813 units from 1,071 units.
     
  • On closer inspection, the falling average prices were not caused by falling capital values. Instead, transaction activity in the upper segment stalled, especially at the beginning of 2014. One explanation could be that transaction activity has instead shifted to the primary market.
     
  • Already one of PJ’s best addresses, property prices here will be buoyed further by infrastructure projects. The MRT Sungai Buloh-Kajang Line will have stations in Mutiara D’sara, 1 Utama and Taman Tun Dr Ismail. The LRT3 (Bandar Utama-Klang Line) due in 2020 starts at 1 Utama and includes a station at D’sara Utama. The controversial D’sara-Shah Alam Highway (Dash) will run through Mutiara D’sara and D’sara Perdana.


property snapshot, Bandar Utama, Damansara


What are the realistic prices of property in the myriad Damansaras in Petaling Jaya? Tap here 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.

 

 

 

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