Prices in Setapak have surged in the past two years on the back of new launches with higher prices. Based on analysis of transactions by theedgeproperty.com, average prices grew 12.5% y-o-y to RM389 psf in 3Q2014.

Prices of homes on Johor Baru’s secondary market remained firm in 1Q2015, according to The Edge-KGV International Property Consultants Johor Baru Housing Monitor for the period.

The property market in Setapak is fairly level, with condominiums and apartments in the area predominantly serving the affordable and mid-end segment.

Many of Setapak's new projects have been attractively priced to target the mass-market segment.

Sunway Real Estate Investment Trust
(June 26, RM1.60)

CapitaMalls Malaysia Trust
(June 26, RM1.39) 
Maintain neutral with an unchanged target price of RM1.45: CapitaMalls will raise RM395.5 million via equity placement for the acquisition of Tropicana City Mall and Tropicana Tower Office for a total acquisition cost of RM565 million. 

Bina Puri Holdings Bhd
(June 26, 54 sen)
Maintain buy with a new target price of 72 sen: Bina Puri has accepted a letter of award from Medini Development Sdn Bhd to undertake office building works in Medini, Iskandar Malaysia, for a contract sum of RM195 million, to be completed within a period of 29 months.

Non-residential properties in Setapak have outperformed the Kuala Lumpur average in the past two years.

Prices are too high and development is moving outwards but the influx of job seekers into Kota Kinabalu will sustain the market, says analyst.

More launches and a greater range of housing products have raised the profile of an original KL district