PROPERTY SNAPSHOT 3: What are the prices of developments in Ampang?

• We continue our focus on the exclusive Ampang neighbourhood by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by theedgeproperty.com, the average price of condominiums here was RM629 psf in 1Q2015, down 11.3% y-o-y.
   
• While we often hear of record-breaking prices, the general market is still concentrated in the RM601 — RM800 psf range. In the 12 months to 3Q2014, 38.9% of transactions fell within this range, while 25.4% fell within the RM401 — RM600 psf range. Only 10.3% of transactions occurred above the RM1,000 psf mark.
   
• The most expensive condominium was M Suites by Mah Sing Group. Since its completion at end-2013, the studio units (502 sq ft to 527 sq ft) have been the most popular, hence the high average transacted price of RM1,238 psf. Nearby, M City is another mixed-use development by Mah Sing with a large number of small units.
   
• Sastra U-Thant (RM1,195 psf), U-Thant Residence (RM1,038 psf) and Iringan Hijau (RM986 psf) are the next-most expensive. These exclusive luxury condominiums are priced between RM2 mil and RM4 mil a unit.
   
• The least expensive projects are the older condominiums such as GCB Court (RM340 psf), Enau Court (RM485 psf) and Ampang Hilir Tara (RM499 psf). In the luxury condominium segment, one finds good value among the older developments. Completed in 1997, 78 LAD on Lorong Ampang 2 has only 20 units in total. In February 2015, a 6,082 sq ft triplex was sold for RM2.85 million, or just RM469 psf.

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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.