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KUALA LUMPUR (July 10): Kelana Jaya was a relatively quiet neighbourhood in the city of Petaling Jaya until Paradigm Mall appeared in its midst.
The new landmark along the Lebuhraya Damansara Puchong (LDP) is part of the 12.5-acre Paradigm Kelana Jaya, a mixed-use development by WCT Holdings Bhd. The mall, which opened in 2012, seems to have given a boost to property values in the area.
Covering Aman Suria, Taman Mayang, Taman Mayang Jaya, Taman Bukit Emas, Taman Kelana Idaman, SS3, SS4, SS6 and SS7, Kelana Jaya offers ready amenities and is connected by the LDP and Kelana Jaya LRT line. It is therefore no surprise that properties in Kelana Jaya are popular among homebuyers.
According to theedgeproperty.com’s analysis of transactions, the average transacted price per square foot (psf) of non-landed homes grew 15.9% year-on-year to reach RM455psf in 3Q2014. This followed a growth of 19.8% in the preceding year.
New launches of high-rise residences in the area are mainly in the higher-end segment and this trend is expected to raise the market profile of the area. New developments such as Paradigm Kelana Jaya and Mah Sing's RM1.8 billion Icon City are also expected to bring greater vibrancy to Kelana Jaya.
For the full report, read the Cover Story in the July 10, 2015 issue of The Edge Property, the property pullout of The Edge Financial Daily here. Read the full pullout here. View the video.
For a quick and brief analysis of the property market in Kelana Jaya:
PROPERTY SNAPSHOT Paradigm Mall lifts Kelana Jaya
PROPERTY SNAPSHOT What’s affordable in Kelana Jaya?
PROPERTY SNAPSHOT What are developments priced like in Kelana Jaya?
PROPERTY SNAPSHOT What’s hot in Kelana Jaya?
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