PROPERTY SNAPSHOT 1: Subang Jaya average price up 8.4% y-o-y

•    This week, the focus is on the secondary market of non-landed residences in one of Klang Valley’s most coveted addresses: Subang Jaya. Subang Jaya in this study is limited to residential and commercial areas covered by SS12 to SS19, as well as the industrial zones around the Subang Hi-Tech Industrial Park.

•    Subang Jaya remains a desirable place to live due to its high concentration of retail, commercial, healthcare and educational amenities. Additionally, the township is well-governed. The Subang Jaya Municipal Council (MPSJ), whose area of governance spans wider than this study’s boundaries, has been widely recognised for the many environmental initiatives it has implemented.

•    Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed homes was at RM598 per square foot (psf) in 1Q2015. This represents a 9.9% retreat from the peak of RM664 psf in the preceding quarter. Nonetheless, on a year-on-year basis, the average price in 1Q2015 was up 8.4% from RM552 psf in 1Q2014.

•    The average price had spiked in 4Q2014 due to an unusually large number of transactions at Subang SoHo. On the other hand, the transaction volume for the 12 months to 1Q2015 had contracted 28.1% y-o-y from 256 units to 184 units.

•    Both the average price and transaction volume are likely to rebound, buoyed by numerous projects such as the ongoing Tropicana Metropark integrated development. Renowned for the quality of their urban developments, this RM7.2 billion, 88-acre project by Tropicana Corp Bhd is expected to transform the neighbourhood with components including business suites, retail units, an international school and a 9.2-acre Central Park.

Want to know the price trends at Subang SoHo. 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.