PROPERTY SNAPSHOT 2: What’s affordable in Cheras South?

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

• Before the wave of new developments at Cheras South, the landscape was fairly homogenous, consisting primarily of low and medium-cost apartments. Thus, local average prices remain very affordable. 
   
• Based on theedgeproperty.com’s analysis of transactions in the 12 months to 3Q2014, the average transacted price per square foot (psf) was RM241 in 3Q2014, with the average transacted unit price at RM205,000. 
   
• In the same period, the RM100,001 – RM200,000 price range accounted for the largest market share of transactions (34.1%). This was followed closely by the RM200,001 – RM300,000 price range (33.1%). Transacted prices on the secondary market have yet to breach the RM500,000 level. 
   
• The newer projects are slowly changing the landscape by bringing to market slightly more upmarket condominiums. The most expensive project on the secondary market is Mahkota Residence in Bandar Mahkota Cheras, with an average transacted unit price of RM382,000. 
   
• The second-most expensive development is Livia Residence with an average transacted price of RM348,000. Located close to AEON Cheras Selatan, the condominium is also part of a larger mixed-use development called C180. The average price here is lower than for Mahkota Residence as the units here consist primarily of 1 and 2-bedroom units between 551 and 853 sq ft, while the units in Mahkota Residence consist primarily of 3-bedroom units between 1,066 and 1,222 sq ft.
   
• The least expensive projects are led by the Taman Damai Jaya flats, with an average unit price at RM56,000. Units here are especially compact with only 517 sq ft available for the 2-bedroom units.

The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data is made available to us.