Tropicana property

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

•    This week, we focus on the non-landed residential properties in the Tropicana area, which straddles Kota Damansara, Bandar Utama and Kelana Jaya. Developed mostly by Tropicana Corp Bhd, the area is dominated by Tropicana Golf & Country Resort and Tropicana Indah Resort Homes, with two golf courses and easy access to amenities in Kota Damansara, as well as the NKVE. This analysis also covers the adjoining southern part of Sunway Damansara, developed by Sunway Bhd.

•    The Tropicana address has long been associated with exclusivity. Most homes there are luxury bungalows, but new developments are mostly condominiums as land is now scarce and expensive.

•    Based on’s analysis of transactions, prices of properties in Tropicana and Sunway Damansara have moved up in tandem, buoyed by the growing amenities in neighbouring Kota Damansara and the MRT rail lines there. The average transacted price per square foot (psf) reached RM539 in 3Q2014, up 10.5% y-o-y. This follows an already strong growth of 23.1% y-o-y in the preceding year.

•    Average prices and transaction volume in the secondary market jumped in 4Q2013, following the completion of Tropicana Grande. The market then softened at the beginning of 2014, before picking up again.

•    Average prices are likely to pick up to reflect the sales of Tropicana Gardens in Tropicana Indah, which is setting new pricing benchmarks. The project will be integrated with the Surian MRT Station with prices crossing RM1,000 psf. Another upcoming project is Lumi Tropicana, developed by Thriven Global Bhd and expected to be launched later this year.

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.

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