• Today, we continue our focus on Bangsar by looking at development prices on a per square foot (psf) basis. Based on transactions analysed by theedgeproperty.com, the average price psf of condominiums in the area was RM811 psf in 3Q2014, up 8.7%y-y.
• Unlike some areas, prices in Bangsar do not vary much, except for One Menerung. This is due to the fact that Bangsar residents are mostly upper middle class, and the most projects were undertaken by reputable developers with good building upkeep.
• In the 12 months to 3Q2014, some 41% of transactions were for properties in the RM601-RM800 psf range, with another 29% of transactions falling within the RM801-RM1,000 psf range.
• One Menerung stands out as the most expensive condominium, with an average transacted price of RM1,155 psf, not unlike prices in the KLCC area. Despite its high price tag, it is one of Bangsar’s more popular projects with a high volume of transaction activity in the secondary market.
• This is followed by Gaya Bangsar (RM847 psf), Cascadium (RM831 psf), Desa Bangsar Ria (RM821 psf) and Jamnah View (RM816 psf). Interestingly, with the exception of Gaya Bangsar, the other projects were completed in the 1990s, suggesting that despite their age, these well-maintained older projects continue to enjoy healthy demand.
• The least expensive projects in Bangsar are Bayu Angkasa (RM527 psf), Bangsar Puteri (RM626 psf) and Sri Kasturina (RM637 psf).
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.