PROPERTY SNAPSHOT 2: What’s affordable in Ampang?

•    Long established as the expatriate and embassy enclave of Kuala Lumpur, Ampang is home to among the city’s most exclusive addresses.

•    Based on theedgeproperty.com’s analysis of transactions in the 12 months to 1Q2015, the average transacted price per square foot (psf) was RM629 psf in 1Q2015, while the average transacted price per unit stood at about RM1.06 million.

•    In the same period, a majority of transactions (14.3%) fell within the RM500,001 — RM600,000 price range. Units sold in this range comprise of both studio units of newer condominiums and larger units of the older condominiums. Unsurprisingly for such a prime area, close to a third (34.9%) of transactions were for properties priced above RM1 million.

•    The most expensive project by average transacted unit price is The Madge, an exclusive townhouse project comprising of just 14 units. Each unit is 4.5 storeys high and measures at least 5,414 square feet (sq ft). In the review period, there was only one transaction recorded at The Madge, with a unit was sold for RM5 million in December 2014.

•    The next most expensive projects are U-Thant Residence (RM3.0 million), Iringan Hijau (RM2.93 million), The Residences Katana (RM2.89 million) and 78 LAD (RM2.85 million). These are similarly elite projects, with only a few units in each project.

•    The least expensive project is D-Villa Residence (RM454,000) on Jalan Ampang, the most popular units among buyers here were the studio and 1-bedroom units. The older GCB Court (RM458,000) is next. Another affordable yet comfortable residence would be Suria Jelatek Residence, at RM505,000 to RM530,000 transacted for the 1,087 sq ft, 3-bedroom units

Related story:
PROPERTY SNAPSHOT 1: Tepid transaction activity in Ampang