• Today we look at price growth and indicative asking rental yields for non-landed residences in Kerinchi, Pantai and Bangsar South.
• The transformation of these areas into an increasingly coveted neighbourhood has seen prices of older properties appreciating strongly. More developers are being drawn to the area, with its proximity to the Mid Valley Megamall being a major catalyst. Other catalysts will come from the development of Bangsar South and KL Eco City.
• From analysis of transactions in the 12 months to 3Q2014 by theedgeproperty.com, the Taman Bukit Angkasa flats saw the highest growth of average price per square foot (psf ), up 21.1% y-y, albeit from a low base, as average prices increased from RM161 to RM195 psf.
• In the mid-market segment, Pantai Hillpark 5 enjoyed strong price appreciation, with transacted prices growing 20.2% y-y to RM429 psf.
• In the upper-middle class segment, prices at The Park Residences in Bangsar South rose 16.4% y-y to RM726 psf over the same period.
• Overall, it appears that the excitement surrounding Bangsar South has buoyed prices of both old and new properties in the area, with almost all the projects showing steady price appreciation.
• Monthly rental rates for older units in Pantai hills are about RM2.00 psf while newer ones in Bangsar South are between RM3.30-RM3.80 psf.
• Interestingly, there appears to be little correlation between the age and location of projects in terms of indicative asking rental yields. Rental returns in the area are led by Pantai Hillpark 1 and Zehn Bukit Pantai with indicative asking yields at 5.7%.
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.
TOP PICKS BY EDGEPROP
Elegan Townhouse, Taman Putra Perdana
2-STOREY SEMI-D VILLA UNIVERSITI GOMBAK UIA