PROPERTY SNAPSHOT 1: Kinrara grows

This is the first in a series of four snapshots on Bandar Kinrara. Look out for part two tomorrow.

• This week's spotlight falls on non-landed residential properties in Bandar Kinrara, developed largely by Island and Peninsular in the early 1990s. Straddling the border between Kuala Lumpur and Selangor, Bandar Kinrara enjoys direct access to the city via Jalan Klang Lama, and is strategically located between the two growing neighbourhoods of Bukit Jalil and Puchong.
   
• Based on theedgeproperty.com’s analysis of transactions, the prices of non-landed properties in Bandar Kinrara remained fairly stable in 2012 – 2013, before shooting up to RM309 per square foot (psf) in 3Q2014. This represents a sudden 23.4% y-o-y appreciation from the average of RM251 psf in 3Q2013.
   
• The total transaction volume for the 12 months to 3Q2014 declined 27.8% y-o-y from 446 to 322 units.
   
• The spike in the average price from 2Q2014 onwards was broad-based across all properties, rather than from higher-priced new launches.
   
• Bandar Kinrara has enjoyed the spillover effects of rapid development in the neighbouring townships of Bukit Jalil and Puchong. Future condominiums include 8 Kinrara, Duet Residence and Rimba Residence.
   
• The LRT extension of the Ampang Line to Putra Heights will also benefit Bandar Kinrara, with two new LRT stations planned along the Bukit Jalil Highway at Alam Sutera and Kinrara BK5. The LRT network will greatly improve connectivity and is expected to alleviate traffic congestion heading to Kuala Lumpur City. Also, construction of the new Serdang-Kinrara-Putrajaya Expressway is still expected to proceed.

The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data is made available to us.