PROPERTY SNAPSHOT 2: What’s affordable in Cheras?

•    Kuala Lumpur’s Cheras serves a middle-class population but it is seeing more exciting and upmarket properties. Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed homes was RM348 psf in 1Q2015 while average transacted price per unit was about RM314,000.

•    In the 12 months to 1Q2015, the RM300,001 – RM400,000 range recorded the highest number of transactions (29.8%) followed by the RM100,001 – RM200,000 price range (17.4%). Altogether, 86.8% of transactions were for units priced RM500,000 and below.

•    The most expensive project was Vistaria Residensi with an average transacted price of about RM699,000 per unit. This fairly recent, mid-range condominium is located close to the Taman Pertama commercial centre. In the same vicinity is Villa Vista, an upcoming development by the same developer.

•    Prices at Vistaria Residensi are high due to its large units. The 3-bedroom, 2-bathroom units measure from 1,301 sq ft. In October 2014, a 1,453 sq ft unit on the 23rd floor was sold for RM845,000; earning the title of the most expensive unit sold in Cheras within the review period.

•    The next most expensive project was Prima Midah Heights, with an average price per unit of RM670,000. This project is strategically located in Taman Midah, close to shops, banks, UKM Hospital and Tesco Extra Cheras. Units here are similarly large, ranging from 1,460 sq ft to 2,915 sq ft.

•    The least expensive units can be found in the flats in Taman Len Sen (RM70,600), Taman Desa Cheras (RM71,200) and Taman Mulia (RM79,200).

Click here for the price trends of condominiums at Vistaria Residensi.

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.