PROPERTY SNAPSHOT 1: Tepid transaction activity in Ampang

• This week’s spotlight falls on the strata market in Ampang, one of Kuala Lumpur’s most elite neighbourhoods and embassy enclave. The area under study here is bounded by Jalan Tun Razak to the west, the Ampang-Kuala Lumpur Elevated Highway (Akleh) to the north and the Middle Ring Road 2 (MRR2) to the east.
   
• Based on theedgeproperty.com’s analysis of transactions, the average transacted price of non-landed properties in Ampang grew in 2H2013, remained stable throughout 2014 and dipped to RM629 per square foot (psf) in 1Q2015. This represents an 11.3% y-o-y fall from RM710 psf in 1Q2014, or a 13.6% fall from a peak of RM728 psf in 2Q2014.
   
• The sustained period of high average transacted price in 2014 coincided with the completion of several luxury condominiums: M Suites, Sastra U-Thant, Seri Ampang Hilir and The Elements. Secondary sales at these projects lifted the overall average price.
   
• Overall, transaction activity remained sporadic in 3Q2013, with a spike of 124 units sold. On closer examination, the investment sale of Palas Condominium in August 2013 accounted for 76 of the transactions. Omitting the effect of this investment sale, total transaction volume in the 12 months to 1Q2015 fell 35.7% y-o-y to 126 units from 196 previously.
   
• Despite the lacklustre performance of the high-end segment, there are still several developments in the pipeline (18 Madge, Arte+, Astoria Ampang, Damai 88, M City, NOVO Ampang and Three28 Tun Razak), with some 4,000 new units expected. 

Click here to check out the price trends at M Suites.



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.