PROPERTY SNAPSHOT 4: What’s hot in Puchong?

•     Today, we look at price growth and indicative rental yields for non-landed homes in Puchong. From the analysis of transactions by TheEdgeProperty.com, the average transacted price for non-landed homes in the secondary market was RM327 psf in 1Q2015.

•     Buoyed by the LRT line extension, capital values have appreciated across most properties in the 12 months to 1Q2015. The highest relative growths can be observed at affordable apartments where capital bases are lower. The apartments that charted the highest growths are usually strategically located either at Bandar Puchong Jaya or Bandar Puteri Puchong.

•     Within the mid-end segment, Casa Puteri charted the highest relative capital growth, with the average price gaining 25.5% y-o-y to reach RM437 psf in the 12 months to 1Q2015. Casa Puteri is one of the earliest developments by IOI Properties in the neighbourhood.

•     Rental yields in Puchong are decent, with the average indicative rental yield at about 4.4%. Tropicana and Sunway Damansara are suppressed due to the high capital values of properties as well as the lack of public transportation.

•     The highest indicative rental yields as observed from asking rentals were from The Heron Residency (6.1%). This project is a decade-old, mid-end condominium located in Kampung Baru Puchong. Next is Sri Kesidang (5.9%). Located in Bandar Puchong Jaya, this medium-cost apartment consists of several 5-storey blocks.

•     The current commercial centres in Puchong are located at Bandar Puteri Puchong and Bandar Puchong Jaya while the upcoming Festival Lakecity by Mah Sing Group aims to be the first international Central Business District in Puchong. The 88.7 acre integrated project will include office towers, serviced residences, retail space and a hotel with an expected gross development value of RM9.3 billion.

Click here for the price trends at The Heron Residency.

The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.