PROPERTY SNAPSHOT 3: What are developments priced in Setapak?

•     Today, we continue our focus on Setapak by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by TheEdgeProperty.com, the average price of non-landed homes in the area was RM363 psf in 1Q2015, a slight 4% retreat from the peak of RM378 psf in 3Q2014.

•     The property market in Setapak consists mainly of mass-market condominiums and apartments. In the 12 months to 1Q2015, about half (50.5%) of the secondary non-landed residential transactions were within the RM201 – RM400 psf range. Another 42.3% fell within the RM401 – RM600 psf range.

•     The most expensive unit sold was for a 3-bedroom unit at the top floor of Platinum Lake PV 12 in November 2014. The 1,302 sq ft unit had transacted at RM1 million or RM768 psf.

•     The newer projects were also the priciest. In the lead was 222 Residency with an average transacted price of RM518 psf. It is located next to 288 Residency, which has an average price of RM464 psf.

•     Both projects were developed by Kerjaya Prospek Group and were completed in 2013. Despite their similarities, price levels at 222 Residency were higher, partly due to its smaller unit sizes.

•     The most affordable projects were the older flats led by the Danau Kota Flats (RM181 psf), the Seri Langkawi 1 Flats (RM182 psf) and the Taman Melati Flats (RM213 psf).

Check out the price trends at 288 Residency here.

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.