PROPERTY SNAPSHOT 3: What are developments priced in Puchong?

This is the third in a series of four snapshots on Puchong. Look out for part four tomorrow.

•    Today, we continue our focus on Puchong 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 properties here was a reasonable RM334 psf in 3Q2014, up 10.6% y-y.

•    Data analysed by theedgeproperty.com show that prices in Puchong are much lower than the more established nearby townships such as Subang Jaya (RM581 psf in 3Q2014) and USJ (RM411 psf).

•    In the 12 months to 3Q2014, 55.8% of transactions were in the RM201-RM400 psf range, followed by the RM401-RM600 psf range (21.8%).

•    The most expensive addresses in the area of study is Solace with an average price of RM563 psf. Most of the other expensive projects are all fairly new, with the exception of La Vista (RM390 psf), Desa Impiana (RM390 psf) and Casa Puteri (RM399 psf). Among the list, the buyers would find larger unit sizes at Aseana Puteri (RM456 psf), Atmosfera (RM412 psf), La Vista (RM390 psf) and Koi Kinrara Suites (RM390 psf) where the 3-bedroom units have sizes starting from 1,300 sq ft.

•    Within the list, Casa Tropika (RM405 psf) appears reasonably priced. Completed in 2014, it offers many additional facilities including a sky deck, and sits atop a retail podium beneath the residential towers.

•    The least expensive developments are found clustered in Puchong Utama and Taman Mas Sepang. Interestingly, the lower-cost developments are often situated right next to other medium-cost apartments, a pattern of development observed when a neighbourhood undergoes gentrification.

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

Related story:
PROPERTY SNAPSHOT 1: Puchong’s story continues
PROPERTY SNAPSHOT 2: What’s affordable in Puchong?