PROPERTY SNAPSHOT 1: Values hold in Jalan Ipoh

•    This week, the spotlight falls on the secondary market of non-landed residences along one of Kuala Lumpur’s oldest arterial roads, Jalan Ipoh. We examine the stretch of Jalan Ipoh beginning from the intersection with the Middle Ring Road 2 at the north, passing the neighbourhoods of Jinjang, Batu, and Segambut, to terminate at the intersection with Jalan Tun Razak in Sentul. In 2014, the southern half of Jalan Ipoh had been renamed Jalan Sultan Azlan Shah.

•    Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed residences had been steadily appreciating over 2013 and 2014. The average price had dipped in 4Q2014 due to a higher proportion of lower-end sales before rebounding to a new high of RM509 psf in 1Q2015. This represented an outstanding 14.9% y-o-y growth from RM356 psf in 1Q2014, following an already strong 12.2% growth in the preceding year.

•    However, while the average price charted steady growth, transaction volume for the 12 months to 1Q2015 had receded 33.1% y-o-y from 350 units to 234 units. Buyers may have been drawn to the primary market.

•    Upcoming projects are mostly located around the Taman Wahyu lakes at the north. They include Crown Residence by HR Group, DeSkye Residence by Ebic Group, Eco Sky by Eco World Development Bhd, Kiara East by SBC Corp Bhd and Lakeville Residence by Mah Sing Group Bhd.

•    The market will likely pick up as the MRT Sungai Buloh-Serdang-Putrajaya (MRT2) Line begins to take shape. Jalan Ipoh is set to receive two new stations: one at Kampung Baru, with an interchange connecting to the existing Kampung Baru LRT station, and one at Kentonmen.

Interested in property investments in Jalan Ipoh after reading this article? Click here to check out the properties there.

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.