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PROPERTY SNAPSHOT 1: USJ secondary market takes off

USJ property

This is the first in a series of four snapshots on USJ. Look out for part 2 tomorrow.

•    This week, the spotlight falls on the burgeoning non-landed market of the Klang Valley’s USJ township. An extension of the matured Subang Jaya township that was started by the same developer, Sime UEP Bhd, USJ has witnessed a slew of new launches over the past few years, with its popularity also buoyed by its access to highways, Putrajaya and Cyberjaya.

•    Some of USJ’s notable new developments include the 77-acre One City by MCT Consortium Bhd. Other new developments recently launched include You One, Da Men, The Regina, Empire Remix and The Duo.

•    Data analyzed by theedgeproperty.com has yet to reflect these new projects. However, transactions of existing non-landed properties reveal that USJ’s secondary market has seen robust capital appreciation, reflecting its increasing popularity and affordable pricing points.

•    Based on theedgeproperty.com’s analysis of transactions, prices in the secondary market have grown remarkably over the past two years. The average transacted price per square foot (psf) of non-landed residential was RM411 psf in 3Q2014, up 16.8% y-y from RM351 psf in 3Q2013. The preceding year charted even more outstanding price growth, up 34.5% y-y.

•    Total transaction volume for the 12 months to 3Q2014 fell 22.5% from 742 to 575 units. Transaction activity in the secondary market is likely to pick up again with the newer developments reflected.

•     Most of the existing developments in USJ are located along Persiaran Kewajipan. They are set to benefit from the Kelana Jaya LRT extension which will run along Persiaran Kewajipan and will have 4 new stations in USJ. The newer condominiums are primarily clustered in USJ1 to take advantage of the existing retail and commercial centres.

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.

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