•    This week, we focus on one of Kuala Lumpur’s trendiest neighbourhoods, Bangsar.

•    Prices for non-landed residences in the posh area have been steadily appreciating. New supply in Bangsar is limited while the growth of retail and commercial developments in nearby areas such as Brickfields, Damansara Heights and the Mid Valley Megamall have further strengthened its appeal.

•    Based on theedgeproperty.com’s analysis of transactions, the average transacted price per square foot (psf) hit a new high of RM811 psf in 3Q2014.

•    Prices have also grown faster than the Kuala Lumpur average in the past two years. In 3Q2014, the average price had grown 8.7% y-y from 3Q2013. Prices in the preceding year also recorded a healthy growth of 13.8%.

•    In comparison, the Kuala Lumpur High-Rise House Price Index as reported by NAPIC grew 7.0% and 9.6% y-y in 3Q2014 and 3Q2013 respectively.

•    The average price in 3Q2014 is also up 36.3% from the last trough of RM595 psf in 2Q2012. Transaction data reveals that property prices have been steadily appreciating.

•    In addition, the most recent quarters witnessed transactions of exclusive low-density luxury projects such as Bangsar Peak and Ken Bangsar, both of which are relatively pricier than other properties in Bangsar, hence driving up the average transacted prices in the neighbourhood.

•    Total transaction volume for the 12 months to 3Q2014 fell 27.2% from 235 to 171 units.

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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