Locations with the most clicks in 2020: No 3. Cheras

Bordering Ampang to the north and Kajang to the south, Cheras is one of the oldest residential areas in KL with parts of it located in Selangor.

Location is Cheras’ biggest advantage as the KL portion of Cheras is about 6km from KL city centre. It also offers various housing choices that meet different buyers’ needs and budgets.

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Starting as a residential area, Cheras has evolved into a business, education and entertainment centre for city dwellers. The opening of Ikea Cheras and Mytown Shopping Centre as well as Sunway Velocity have created more vibrancy to this old residential area in KL.

In terms of connectivity, it has easy access to major highways such as the Middle Ring Road 2 (MRR2), Cheras-Kajang Expressway (Grand Saga), East–West Link and the Smart Tunnel.

Furthermore, its massive size means several LRT (Ampang-Sri Petaling line) and MRT (Sungai Buloh-Kajang line) stations serve the area, making commuting convenient. Hence, getting in and around it can be a breeze. Notably, the Bandar Tasik Selatan (BTS) Rail interchange in the district is linked to KLIA via the ERL Expressway. And this route only takes a short 20-minute journey.

Overall, property buyers preferred high-rise residential properties in Cheras over other property types. This could be due to lack of landed housing choices in the area and the high-rise residential segment offers more affordable and lifestyle choices for young homebuyers or investors.

In 3Q20, Cheras has recorded 154 condominium transactions, while 102 terraced houses, nine semidees and three bungalows have changed hands during the review period.

Property prices in Cheras remained steady. Supported by strong demand, the transaction price for condominiums averaged RM383 psf in 3Q20. Average transaction price for terraced houses was RM410 psf, while semidees and bungalows averaged RM476 psf and RM234 psf respectively.

This story first appeared in the EdgeProp.my e-weekly on Feb 12, 2020. You can access back issues here.

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