• This week, the spotlight falls on the secondary market of non-landed residences in Ara Damansara and the adjacent Subang area. Subang, as defined in this study, spans from Taman Subang Pelangi and Taman Desa Subang in the north to Taman TTDI Jaya in the south, and is bordered by the Guthrie Corridor Expressway in the west.
• Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed homes has been growing over 2014 to reach RM406 per sq ft (psf) in 1Q2015. This represents an outstanding 53.8% y-o-y jump from RM264 psf in 1Q2014.
• On the other hand, transaction activity has slowed in 2014 with transaction volume for the 12 months to 1Q2015 retreating 43% y-o-y from 824 units to 470 units. Transaction activity was especially weaker in the lower-end segment, which contributed to the upwards bias in average prices.
• In 4Q2013, both the average price and transaction volume were skewed upwards on the back of a block of transactions registered at Jazz Residences in Pacific Place, Ara Damansara. The average price and transaction volume have spiked up to RM482 psf and 342 units respectively.
• While both Subang and Ara Damansara are located adjacent to each other, the latter is decidedly more upmarket, due to the spillover effect from more established neighbourhoods like Petaling Jaya, Kelana Jaya and Tropicana. Among some of the more high-profile projects is the ongoing development of Oasis Damansara, Sime Darby’s 85-acre integrated development.
• A catalyst for Ara Damansara is the Kelana Jaya LRT Extension. The extension will include a stop just off Jalan Lapangan Terbang Subang.
Click here for the price trends at Jazz Residences.
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.
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