PROPERTY SNAPSHOT 2: What’s affordable in Shah Alam?

This is the second in a series of four snapshots on Shah Alam. Look out for part three tomorrow.

•    Located about 30km west of Kuala Lumpur, Shah Alam is the administrative capital of Selangor and was once better known as an industrial hub. Now the city has evolved into a self-contained metropolis.

•    The high-rise landscape is changing as the newer projects are becoming increasingly upmarket. Based on theedgeproperty.com’s analysis of transactions in the 12 months to 3Q2014, the average transacted price per square foot (psf) was at RM209 psf in 3Q2014, while the average transacted price per unit stood at about RM200,000.

•    Transaction activity in Shah Alam is still dominated by the low-cost segment, with the majority of transaction (30.7%) falling within the RM100,001 – RM200,00 price range. The next price range by market share is RM50,001 – RM100,000 (25.5%). In the review period, 98% of transactions fell under the RM500,000 level.

•    By average transacted price per unit, the most expensive project is Sri Acappella, in Section 13. Units here transacted for an average price of RM550,000 per unit. Closer inspection reveals that this was skewed by an unusually pricey sale at RM1 million for a 1,615 square feet (sf) unit. Typical 2-bedroom, 947 sf units have transacted between the range of RM400,000 – RM420,000. The next most expensive project is Seri Hijauan Condominiums (RM449,000) in Taman Bukit Saga, whose prices have been buoyed by the developments in neighbouring USJ.

•    The least expensive projects are led by the older, low-cost flats built by the Selangor State Development Corporation (PKNS) such as those in Section 20 (RM75,000) and Section 17 (RM77,000).

Click here to see price trends of Sri Acappella and compare prices of neighbouring developments.