PROPERTY SNAPSHOT 3: What are developments priced at in Shah Alam?

This is the third in a series of four snapshots on Shah Alam. Look out for the final part tomorrow.

•    Today, we continue our focus on Shah Alam by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by theedgeproperty.com, the combined average price of condominiums and apartments in the area was RM209 psf in 3Q2014, up 0.7% y-o-y. 

•    While Shah Alam has welcomed many new upmarket condominiums, most of the strata transactions here still fall within the low-to-mid cost segment. In the 12 months to 3Q2014, almost 95% of secondary transactions occurred under the RM400 psf level.

•    The most expensive addresses by far are Menara U with an average transacted price of RM606 psf, almost 27% higher than the next project, Sri Acappella (RM477 psf). Completed at the end of 2013, Menara U is strategically located in Section 13. It is within walking distance to shophouses, a Tesco store and the future AEON Mall.  Also, the Stadium Station of the future Bandar Utama-Klang LRT3 line is under construction just 400m away. Menara U is able to fetch high average prices on a psf basis as the project consists solely of studio units ranging from 527 square feet (sq ft) – 624 sq ft. The average transacted price for a studio unit here is about RM347,000.       

•    The most affordable dwellings are the older, low-cost flats built by the Selangor State Development Corporation. They are Valencia (RM107 psf), Taman Bunga Negara and Taman Sri Muda Flats, both RM125 psf.

Click here to see price trends of Menara U and compare prices of neighbouring developments.

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.