PROPERTY SNAPSHOT 2: What’s affordable in Setapak?

•     Setapak has an abundance of high-rise residences, most of which are priced to target the middle class. Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price was RM363 per square foot in 1Q2015 while the average transacted price per unit was about RM435,000.

•     In the 12 months to 1Q2015, the RM500,001 – RM600,000 range recorded the highest number of transactions (23.2%) followed by the RM600,001 – RM700,000 range (15.2%).

•     There were no transactions above the RM1 million threshold. There were, however, four units sold for RM1 million each. Three of them were from Platinum Hill PV 8 at Taman Melati. The Platinum Hill projects were developed by local heavyweight Platinum Victory Sdn Bhd, who is also the mastermind behind the series of Platinum Lake residences located around the Danau Kota lake.

•     Platinum Hill PV 8 was the most expensive project during the review period with an average price per unit of about RM733,000. However, unit sizes here are generous ranging from 1,561 sq ft to 1,873 sq ft.

•     Next most expensive was Setapak Green, with an average price per unit of RM700,000. Developed by UOA Group Bhd, this project consists of larger units (1,362 sq ft – 1,588 sq ft) that are more suitable for families.

•     Setapak Green is located off the lower end of Jalan Gombak, an area which is enjoying renewed interest from developers. The newly-completed 222 Residency and 288 Residency are also located here while Ekovest Bhd has plans to develop The Gateway @ KL Bund mixed development nearby, which will include a hotel, six blocks of residential towers and a five-storey retail podium.

Want to know the price trends at Platinum Hill PV 8. Click here.

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.