Kepong is a mature market with mostly Chinese buyers. However it is not as “sexy” as neighbouring Mont’Kiara or Petaling Jaya," says chief operating officer of Henry Butcher Marketing Sdn Bhd, Tang Chee Meng.
“This explains why some developers with projects in Kepong tried to disassociate themselves from the area by naming and building up a different image and branding for their projects, such as Bandar Sri Damansara and Desa ParkCity,” says Tang.
Kepong is an older, predominantly Chinese neighbourhood 12km away from Kuala Lumpur City Centre.
Only a few sizeable developments came up in Kepong in the early 2000s, such as Metro Prima, an 86-acre mixed development by Magna Park Sdn Bhd, Taman Fadason and Fortune Perdana.
“Subsequent to these more sizeable developments, new launches in Kepong were mainly pocket developments comprising condominiums, apartments or shophouses,” he says, adding that the price of non-landed developments in Kepong is around RM400 to RM650 psf, except for more upmarket townships like Desa ParkCity.
Tang believes there is still room for prices in Kepong to go up. He says there is rebranding potential, especially with the completion of the MRT line in the future.
“In future, Kepong will be served by the MRT Sungai Buloh-Kajang Line ... this will enhance the livability of the area and attract more interest, which could then lead to higher property values and rents,” says Tang.
Read about The Henge here, the new project set to change the Kepong skyline