PROPERTY SNAPSHOT 1: Klang market on the rise

This is the first in a series of four snapshots on Klang. Watch out for part two tomorrow.

•    This week, the spotlight falls on non-landed residential properties in Klang, which may be divided into Klang North and Klang South by the Klang River. At the northern side, the area covered in this study spans from Pekan Meru in the north and includes Taman Klang Utama in the west and Bandar Baru Klang in the east. Klang South has seen the emergence of many new townships such as Bandar Botanic, Bandar Puteri Klang, Bayuemas and Bandar Parkland, which are included.

•    Based on theedgeproperty.com’s analysis of transactions, the average price of strata residences in Klang has been growing steadily, hitting a peak of RM155 per square foot (psf) in 3Q2014, up 13.3% y-y. This follows an already healthy 12.6% y-o-y growth in the preceding year. Transaction activity has also been strong, with the total transaction volume for the 12 months to 3Q2014 receding just 4.4% from 676 units to 646 units.

•    Klang has been transforming over the years, with many top developers undertaking large projects. Future developments are also ambitious. Canary Gardens at Bandar Bestari will include KSL City Mall 2, Klang’s largest mall in Klang. Close by, Gravit8 is has GDV of RM1.3 billion.

•    The local property market is set to receive a further boost from public transport infrastructure. A Bus Rapid Transit (BRT) line connecting Klang to Kuala Lumpur is expected to be ready by 2018. Meanwhile, the Bandar Utama-Klang LRT 3 line is due in 2020. The network will pass through the heart of the city and end at Klang South. Klang is set to receive nine new stations: Kawasan 17, Jalan Meru, Klang, Taman Selatan, Sri Andalas, Tesco Bukit Tinggit, AEON Bukit Tinggi, Bandar Botanik and Johan Setia. 

Click here to check out properties in Klang's Bandar Botanic.  

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