PROPERTY SNAPSHOT 3: What are developments priced in Cheras?

•     Today, we continue our focus on Cheras in Kuala Lumpur by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by TheEdgeProperty.com, the average price of non-landed homes in the area was RM348 psf in 1Q2015, an 11.5% growth from RM312 psf in 1Q2014.

•     Up until recently, the property market in Cheras has consisted predominantly of mature, middle-class condominiums and apartments. In the 12 months to 1Q2015, 40.7% of the secondary non-landed residential transactions was within the RM201 – RM400 psf range. Another 34.7% fell within the RM401 – RM600 psf range.

•     The most expensive project on a psf basis was Amaya Maluri, recording an average sale price of RM739 psf, or around RM100 psf more than the next most expensive project. Completed at end-2013, the serviced apartment is located in Taman Maluri close to banks, shops and the AEON shopping mall.

•     A 1-bedroom, 667 sq ft unit at Amaya Maluri was sold for RM824 psf, making it the most expensive unit transacted during the review period. In contrast, residences at Sunway Velocity, located just opposite Jalan Peel, have been reported to be priced at around RM1,200 psf.

•     The next most expensive project was Pertama Residency with an average price of RM636 psf. Located in Taman Pertama, this project neighbours other newer condominiums, namely Villa Seri Puteri, Vistaria Residensi and Villa Vista Cheras. Typical 1-bedroom units here measure 603 sq ft.

 Click here for the price trends of condominiums at Amaya Maluri. 

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.