PROPERTY SNAPSHOT What are developments priced in KLCC?

•    Based on transactions analysed by theedgeproperty.com, the average price psf of condominiums in the area was RM1,052 psf in 3Q2014. 

•    KLCC is the country’s most expensive address. In the 12 months to 3Q2014, about 23% of transactions were for properties in the RM1,001-RM1,200 psf range, followed by 19.5% for the RM801-RM1,000 psf range.

•    Pricing trends for the area depend on location and proximity to KLCC, views, unit size, age, branding and the developer, and the target market. 

•    Generally, the highest priced units on a psf basis are the premium developments surrounding KLCC, especially those with good views and private lifts; as well as small studio units. This is followed by developments around the Persiaran Hampshire area, while the Jalan Tun Razak areas command considerably lower pricing.

•    The Binjai stands out as the most expensive condominium, with an average price of RM2,005 psf and units sized from around 2,250 sq ft to 4,000 sq ft.

•    Other pricey developments include Fraser Place (RM1,482 psf), Marc Residence (RM1,466 psf) and Vipod Residences (RM1,429 psf). The smaller units offered by these projects are among the most popular with buyers.  

•    The most affordable units are at The Orion, located on Jalan Tun Razak near Istana Budaya, with an average price of RM497 psf. Interestingly, 2 units there were transacted below market price, at RM261 psf and RM272 psf, during the 12 months to 3Q2014.

•    Other relatively cheaper projects in the vicinity include Menara Avenue (RM550 psf), Crown Regency (RM727 psf) and 2 Hampshire (RM789 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.

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