Which PJ hot spots have the highest transacted home prices?

• Find out the y-o-y median transacted price movements of four of PJ’s most popular locales as of Oct 31, 2024 — based on EdgeProp Research and EPIQ platform.

PETALING JAYA (March 4): Petaling Jaya (PJ), a satellite city with strategic connectivity and robust infrastructure, is known to draw homebuyers and investors seeking prime urban living.

But which neighbourhoods were leading the charge in terms of selling price last year?

By using EdgeProp Research and EPIQ platform, we’ve analysed areas with over 100 active property listings and demand-supply ratio* to identify PJ’s most desired areas in 2024, and the selected locales are Bandar Utama, SS17, SS14, and SS2.

Based on recorded transactions in EdgeProp.my, we list here the year-on-year (y-o-y) median transacted price movements of the past four years for these four hot spots, as per the latest available data on Oct 31, 2024.

And here are the prices beginning from the highest.

Bandar Utama remains a top performer in transacted property prices in PJ, with landed homes here appreciating 3.6% year-on-year (y-o-y) to RM848.9 psf in 2024, according to EPIQ Monitor. Non-landed units also showed growth, rising 4.3% to RM566.1 psf, underscoring the area’s appeal for homebuyers.

Coming in second was SS2, a popular destination for locals and tourists searching for food, clothing and other goods, anchored by a famous night market. During the day, SS2 is a lively hub with a mix of street shops, restaurants, cafes, and banks, catering to the daily needs of its residents and visitors.

Landed property’s median transacted price here rose to RM627 psf, a 3.3% increase in 2024. In contrast, its non-landed units continued its second y-o-y decline from its peak in 2022, depreciating 6.8% to RM537.3 psf in 2024. However, despite the downward trend, the high-rises here still fetched higher median values compared to SS17 and SS14, 

At third place was SS17, traditionally known for its mix of terrace and bungalow home listings. The renovated properties featuring spacious living spaces and modern amenities have always attracted buyers prioritising ready-to-move-in spaces, which is likely one of the reasons for its steady climbing prices. Landed homes here rose by 4.4% y-o-y to RM464.8 psf in median transacted price.

Meanwhile, its high-rise’s median transacted price climbed 1.7% to RM396.9 psf in 2024, maintaining its upward traction from the previous year’s 8.1% increase.

Ranked fourth, SS14 is a vibrant and well-established commercial and residential neighbourhood in PJ. Known for its energetic atmosphere, it attracts both locals and visitors with its mix of restaurants, cafes, and residential homes.

The area's landed homes recorded values dropping for the second consecutive year, to RM330.4 psf (a 0.52% decrease) in 2024.

In contrast, its high-rise segment rebounded to RM384.7, a 4.8% increase in value compared to 2023. Interestingly, of the four highlighted areas, SS14 was the only one whose non-landed median transacted prices exceeded that of its landed counterparts, in fact, consistently for the past four years under this analysis.

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