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PROPERTY SNAPSHOT 3: What are developments priced in Kerinchi/Pantai?

Kerinchi

•    Today, we continue our focus on Kerinchi/Pantai by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by TheEdgeProperty.com, the average price of condominiums in the area was RM518 psf in 1Q2015.

•    Prices within Kerinchi/Pantai range widely depending on the property; whether they are low-cost flats, mid-ranged condominiums, SoHo-like residences or modern luxury condominiums.

•    In the 12 months to 1Q2015, both the RM201 – RM400 psf range and the RM401 – RM600 psf range accounted for 26.7% of transactions each. Another 22.3% were for sales within the RM601 – RM800 psf range.

•    The most expensive project was Camellia Service Suites, with an average price of RM883 psf, 19% higher than the next project. Recently completed, this project is part of the Bangsar South precinct by UOA Development Bhd. The smaller units here were the most popular among buyers, hence the average price here appears elevated compared to sister project, The Park Residences.

•    Properties within Bangsar South generally command a premium of up to 20% compared to surrounding properties. Prices at the latest development, Novum South Bangsar, were reported to average around RM880 psf.

•   The most expensive unit sold was for a 625 sq ft unit at Camellia Service Suites. The one-bedroom unit had transacted for RM1,016 psf in March 2015. This represents the first time a sale at Camellia Service Suites had crossed the RM1,000 psf threshold.

Click here to check out the price trends at Camellia Service Suites.

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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