PROPERTY SNAPSHOT 1: USJ non-landed housing average price hits new peak

•     This week, the focus is on the secondary market of non-landed residences in Selangor’s UEP Subang Jaya better known as USJ. The property market in USJ appears to be a veritable hotspot, defying the general market slowdown. This is apparent in both price and volume trends.

•     Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed homes had accelerated in 2014 to hit a new peak of RM456 per sq ft (psf) in 1Q2015. This was a 32.6% y-o-y growth from RM344 psf in 1Q2014, following a 12.3% y-o-y growth in the preceding year.

•     Transaction activity was upbeat, with the transaction volume for the 12 months to 1Q2015 gaining 8.6% y-o-y from 602 units to 654 units.

•     USJ’s strong performance in the 12 months to 1Q2015 was buoyed by transactions at Main Place Residence USJ21. This serviced apartment sits atop the Main Place Mall, which opened in early 2014. Other newly completed  projects in USJ include One City Mall by MCT Bhd, which opened in late 2013, Riverdale @ USJ One Park, which was completed around end-2013 to early-2014 and The Regina, which was completed around end-2014.

•     The property market in USJ is poised to take off further with a slew of ongoing major developments. They include Da Men, Empire Remix and One City. The Da Men mall opened in January 2016. Other condominiums in the pipeline include The Duo.

•     Another catalyst will come from the Kelana Jaya LRT extension line. Scheduled for opening on June 30, the extension runs along Persiaran Kewajipan and offers four new stations in USJ at USJ 7, Taipan, Wawasan and USJ 21.

Check out the price trends at Main Place 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.