PropNex leader shares growth potential of Cheras' mature neighbourhoods

• Some mature neighbourhoods in Cheras are experiencing continuous 3% to 5% annual price growth, said Steven Tay.

KUALA LUMPUR (March 21): After more than half a century, Cheras remains a popular area for homebuyers. An expert believes house prices in its mature neighbourhoods will keep up their modest annual growth.

Armed with over 10 years of experience in the property industry, PropNex Realty Sdn Bhd Cheras branch agency leader Steven Tay (pictured) established PropNex Cheras four years ago. Offering professional consultations to homebuyers, it has become one of the prominent real estate agencies in the area.

“Our team now serves clients throughout Cheras,” Tay told EdgeProp.my. “We provide first-time homebuyer guides, property investment advice for wealth creation, and free legal talks to assist lower-income families with their legal challenges. We strive to find suitable buyers and tenants, so they can enjoy an improved quality of life, which contributes to better property appreciation in the community.”

More than 1,000 units at PropNex Cheras Property Xpo 2025

PropNex Cheras is going to hold the PropNex Cheras Property Xpo 2025, highlighting exciting property deals and unveiling market trends for homebuyers.

“The event allows homebuyers to compare various types of properties, with over 1,000 units available,” Tay highlighted.

“I believe everyone wants to find an affordable property. So, we’ll have our professional real estate consultants, legal team, renowned  feng shui masters, and bankers sharing their insights.

“You can buy properties at any time, but if you’re looking for great return on investment (ROI), the key is knowing the right time to sell it,” he shared.

Mature township, abundant opportunities

As one of the oldest mature townships in Kuala Lumpur, with over 60 years of history, Cheras is where generations have settled. Amidst its dense population, Tay sees the area as full of job and investment opportunities.

“Taman Connaught, known for its popular night market, is a thriving business hub. The area attracts many young homebuyers. UCSI University's proximity drives student rental demand. Developers are building mixed-use developments to appeal to high-income investors working in KLCC and Petaling Jaya, who are drawn to Taman Connaught's vibrant amenities,” he said.

He indicated that the average residential prices in Taman Connaught are increasing by 3–5% each year, and condominiums and serviced apartments have become significant rental investment opportunities there.

“Bandar Mahkota was founded in 2004. At that time, the average residential price, primarily for landed homes, was approximately RM170,000. After a decade, prices rose to RM600,000, a threefold increase. From 2014 to 2024, the value of terrace houses in Bandar Mahkota ranged between RM800,000 and RM900,000. Landed home prices are expected to continue their steady growth,” Tay explained.

He said that Bandar Mahkota still has more than 1,000 acres of land for future development. Besides looking for subsale landed homes, transit-oriented projects next to MRT stations could be another opportunity for homebuyers to take a look at.

On the current trends in property purchases here, he highlighted that Cheras will become an increasingly desirable location for locals and foreigners seeking proximity to the KL city centre, attracting both homebuyers and investors.

Tay also shared some investment tips: “If you’re a first-time homebuyer, you must have long-term financial planning to avoid excessive loans. Ideally, your mortgage payments shouldn’t exceed half of your monthly income.

“If you're an investor, the property you invest in must generate passive income. The safest way to maximise your ROI is to find a property below market value," he advised.

PropNex Cheras Property Xpo 2025 is happening on March 22 and 23, at Monkey Canopy Resort in Cheras, Selangor. The event will showcase more than 1,000 properties with wide ranges of new launches, sub-sales and auction properties, from residential to commercial.