PROPERTY SNAPSHOT 1: Selayang emerges

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

•    This week the spotlight falls on non-landed residential properties in Selayang, Selangor. Located at the border of Selangor and Kuala Lumpur, the area spans from Taman Selayang Utama and Taman Sri Selayang at the edge of the state’s borders in the south, to Taman Jasa Utama at north. The boundaries of the Selayang area for this study lie at the forest reserve managed by the Forest Reserve Institute of Malaysia at west and Jalan Sungai Tua at east.

•    Based on theedgeproperty.com’s analysis of transactions, the average price and transaction volume of non-landed residences in Selayang, Selangor have been on diverging paths since mid-2013 with momentum picking up in recent years.

•    The growth of the average price had accelerated in 2014, reaching a new peak of RM245 per square foot (psf) in 3Q2014. This represents a significant 23.5% y-y appreciation from RM198 psf in 3Q2013.

•    However, transaction activity had softened considerably in 2014, with the total transaction volume for the 12 months to 3Q2014 declining 33.6% from 431 units to 286 units.

•    The local secondary market has been buoyed by the many new developments in Selayang. The new projects are more upmarket such as 228 Selayang, Emerald Avenue, Res 280, Selayang 18, Selayang Star City and V-Residensi. These projects will contribute some 2,100 new residential units to Selayang in the next few years.

•    Generally, transaction data reveals that average prices have been rising across all market segments. However, transaction activity has fallen significantly in the lower-end segments thus, the average price of the region had spiked upwards.

To check out the price trends for 228 Selayang Condominium, click here.

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.