PROPERTY SNAPSHOT 1: Kota Damansara, a thriving hotspot

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

•    Our coverage this week is on Kota Damansara, which is now a thriving township, valued for its access to highways and amenities such as malls, schools, medical centres and upcoming transportation links.

•    Kota Damansara started with mostly low and medium-cost housing developed by the Selangor state property arm, in the 1990s. With more amenities added and the entry of private developers, property prices have increased sharply and the neighbourhood is becoming more upmarket.

•    Kota Damansara is accessible to major highways such as the New Klang Valley Expressway (NKVE), the Damansara-Puchong Expressway (LDP) and Penchala link, both via Persiaran Surian; The Sungei Buloh-Kajang MRT line presently under construction, will have 3 stations within the area and will ease traffic congestion significantly.

•    Based on theedgeproperty.com’s analysis, Kota Damansara has seen one of the strongest growth in property prices within the Klang Valley. The average price per square foot (psf) for non-landed residential properties transacted in the area rose 44.4% y-y from RM356 to RM514 psf in 3Q2014, coming on the back of a strong 31.6% y-y growth in the previous year. Nonetheless, the large jump was also due to the high number of newly completed, higher priced projects. In terms of transactions, volume for the 12 months to 3Q2014 fell 26.5% from 501 to 368 units.

•    Apart from the MRT, the other re-rating catalysts include the development of neighbouring Kwasa Damansara, and the launch of high end projects such as Tropicana Gardens, which has set new pricing benchmarks of above RM1,000 psf.  

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