PROPERTY SNAPSHOT Growing interest South of Bangsar

•   This week, we take a look at the non-landed residential properties in Kuala Lumpur’s Bangsar South, Pantai and Kerinchi areas.

•   While Bukit Pantai is an established upmarket address, Bangsar South and Kerinchi were previously lower-end housing areas with village settlements and flats. With the entry of established developers, the area has been gentrified into an increasingly coveted address.

•   These areas are now increasingly being marketed as an extension of Bangsar, and benefit from their proximity to the Mid Valley Megamall and the city centre.

•   Based on theedgeproperty.com’s analysis of transactions, 3Q2014 recorded an average price per square foot (psf) of RM421 psf, a 16% y-y drop from 3Q2013. However, the data reveals this figure to be an anomaly as there was an unusually large proportion of transaction of flats in that quarter. This anomaly was also observed in 1Q2014.

•   In comparison, prices in in the preceding year grew 22.7% y-y, with an average price of RM501 psf in 3Q2013 and RM408 psf in 3Q2012.

•   Total transactions for the 12 months to 3Q2014 fell 43.7% from 316 to 178 units.

•   There are many upcoming mid to high-end condominium projects in the area such Saville @ The Park by MKH Bhd, South View Serviced Apartments by UOA and Pantai Sentral Hillpark by IJM Land. Transaction activity will likely pick-up with the launches of these projects.

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.