PROPERTY SNAPSHOT 1: Steady Seri Kembangan

This is the first in a series of four snapshots on Seri Kembangan. Look out for part two tomorrow.

•    This week the spotlight falls on non-landed residential properties in Seri Kembangan. Located at the border between Kuala Lumpur and Selangor, the area in this study is bounded by Taman Harmoni, Taman Desa Serdang and Taman Seri Timah in the east; and the Maju Expressway in the west.

•    Based on theedgeproperty.com’s analysis of transactions, prices of non-landed properties in Seri Kembangan rose steadily in 2012 – 2014. The average price hit a peak of RM306 per square foot (psf) in 2Q2014 before softening slightly to RM303 psf in the following quarter. Nonetheless, this represents a strong 20.6% y-y growth from RM251 psf in 3Q2013.

•    Analysis of the the secondary market reveals that prices have appreciated across most properties. The recent acceleration is due to the completions of new projects such as The Sanderson and Parc @ One South.

•    Meanwhile the total transaction volume for the 12 months to 3Q2014 declined 13.7% y-y from 856 to 739 units.

•    Transaction activity is likely to pick up again with many upcoming projects. The One South integrated development will have 1,369 units due for completion by the end of 2017. Dream City is another ambitious luxury residential project with 812 units also due in 2017. Other new projects include Univ 360 Place and SK One Residence which will contribute another 603 units and 429 units respectively.

•    The property market is expected to be buoyed by the upcoming MRT Sungai Buloh-Serdang-Putrajaya Line. Seri Kembangan will have 5 stations based on the proposed alignment, and will become an attractive option for those working in either Kuala Lumpur City or Putrajaya.

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.

Besides the five shown below, here are even more properties from Seri Kembangan!