The most searched keywords by area on TheEdgeProperty.com’s property sale listings search in 2016 were Petaling Jaya (PJ), Kota Damansara and Setia Alam, all in Selangor. What does this tell us? That these areas could possibly have been among the most in demand by those who were looking to invest or buy a home last year.
Having launched the property listings online search function in March 2016, the online portal has about 230,000 properties listed for sale on its portal as at January 2017.
PJ emerged as the most searched area by property hunters. There were 4,987 listings of homes for sale in PJ as at end-January 2017.
As a satellite township for Kuala Lumpur city and a city in its own right in the heart of Selangor, the administrative area of PJ that comes under PJ City Council covers 97.2 sq km and has a population of over 619,925 with property holdings of 217,930.
PJ offers a number of major commercial hubs in established neighbourhoods such as SS2, Bandar Utama, PJ New Town centre (or popularly known as PJ State), Damansara Utama, Damansara Jaya, Mutiara Damansara and parts of Bandar Sunway.
PJ has long been popular with homebuyers and investors. The mature market offers stable capital appreciation despite the age of some of its properties which could be more than three decades old.
TheEdgeProperty.com’s data showed that the average transacted price of landed homes (including bungalows, semi-dees, terraced houses and town houses) in PJ has increased significantly over the years.
In 1H2016, the average transacted price for landed homes in PJ was about RM1.15 million compared with RM1.03 million in 2012. As for condominiums, the average selling price was about RM601,233 or RM484 psf, compared with RM490,415 or RM466 psf in 2012.
Kota Damansara and Setia Alam have more to offer
The second most searched keyword was Kota Damansara. Since the announcement of the Mass Rapid Transit (MRT) project, Kota Damansara has become a frequent name on property investors’ radars as there are two MRT stations in this township — namely the Kota Damansara and Surian stations.
Kota Damansara offers a mix of property types from high-end to affordable mass housing such as terraced homes and flats.
According to TheEdgeProperty.com’s data as of 1H2016, the landed homes here have recorded an average transacted price ranging from RM755,284 (terraced houses) to RM3,875,250 (bungalows) while non-landed homes range from RM170,794 (flats) to RM740,000 (serviced apartments).
Meanwhile, Setia Alam, the 4,000-acre integrated township in Shah Alam developed by S P Setia Bhd, has become one of the most popular destinations for homebuyers as it offers a holistic development concept as a self-sustaining township that emphasises green living.
TheEdgeProperty.com’s data showed that the average transacted price for landed homes in Setia Alam had increased to RM1,212,511 in 1H2016 from RM806,717 in 2012. For non-landed homes, the average selling price had risen to RM283,459 from RM194,536 in 2012.
Kota Damansara and Setia Alam have 1,794 and 1,350 property sales listings, respectively, on TheEdgeProperty.com as at end-January 2017.
Other popular areas that were searched were Mont’Kiara, Bandar Kinrara, Bandar Utama, Bandar Mahkota Cheras, Bandar Baru Bangi, Cahaya SPK and Bandar Puchong Jaya.
Most searched projects
In terms of projects, the most searched on TheEdgeProperty.com in 2016 were Seri Maya, Tropicana Avenue and KL Gateway.
As at end-January 2017, the portal has 92 listings for Seri Maya — a freehold condominium development located in Jalan Jelatek, Off Jalan Ampang, KL, just a 3km drive away from KLCC and directly opposite the Setiawangsa LRT station.
The 16-acre development offers 1,526 units housed in 13 blocks with built-ups ranging from 1,060 sq ft to 2,895 sq ft.
The average transacted price in 1H2016 was RM837,300 or RM578 psf, rising from RM663,202 and RM468 psf in 2012.
The second most searched project was Tropicana Avenue — a mixed development located at Persiaran Tropicana, PJ — which was just completed last year.
The 38-storey serviced apartment houses 453 residential units with built-up sizes ranging between 660 sq ft and 1,621 sq ft. There are 76 listings available on the online portal as at end-January 2017.
Its proximity to the Surian MRT station and to Kota Damansara as well as easy accessibility (through Persiaran Surian) to Ara Damansara and other major townships in PJ are among its attractive points.
As for KL Gateway in Bangsar South, the mixed development comprises residences, corporate office towers and a retail mall. KL Gateway Residences, which is expected to be completed in March this year, comprises two 38-storey towers housing 714 units.
TheEdgeProperty.com’s data showed that the average asking price is about RM1.28 million or RM1,084 psf.
The shopping mall with a gross floor area of 500,000 sq ft is slated to open its door to the public in March this year and this has attracted buyers’ attention to the development. There are only 14 property listings for this project on TheEdgeProperty.com as at end-January 2017.
Other top searched projects were Verve Suites in Mont’Kiara, Solaris Dutamas in KL, Scenaria in Segambut and First Residence in Kepong.
This story first appeared in TheEdgeProperty.com pullout on Feb 10, 2017, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.