PROPERTY SNAPSHOT 1: Prices stabilise in Kelana Jaya

•    This week, the spotlight falls on the secondary market of non-landed residences in Kelana Jaya, Selangor. The areas covered include Aman Suria, Taman Mayang, Taman Mayang Jaya, Taman Bukit Emas, Taman Kelana Idaman, SS3, SS4, SS5, SS6 and SS7.

•    Based on TheEdgeProperty.com’s analysis of transactions, following a rapid rise in 2013, the average transacted price of non-landed homes in Kelana Jaya had remained steady at RM431 psf in 1Q2015. This represents a 16.2% y-o-y growth, although the average price was anomalously low at RM371 psf in 1Q2014.

•    Meanwhile, in terms of transaction activity, there was an unusually high volume of sales at Zenith Residences in 2H2013. Hence, the transaction volume for the 12 months to 1Q2015 appears thin in comparison, falling 39.7% from 307 units to 185 units. 

•    Both the average price and transaction volume are likely to rise with numerous projects underway, including Pinnacle Kelana Jaya, The Azure Residences atop Paradigm Mall and HighPark Suites. These three projects are expected to add another 1,441 homes to the neighbourhood.

•    Another future catalyst would be from Sunway Bhd, which plans to develop a RM1.8 billion mixed development on a 17-acre parcel in SS7.

•    Residents will also enjoy better infrastructure in the near future. The Kelana Jaya LRT extension to Putra Heights will improve connectivity southwards while the new LRT 3 (Bandar Utama–Klang Line) would bring two new stations, at Dataran Prima and Persada Plus, and a new interchange at Glenmarie.

Want to know the price trends at Zenith Residences. Click here.

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.