PROPERTY SNAPSHOT 4: What's hot in Ampang?

• Here are the price growth and indicative asking rental yields for non-landed residences in Ampang. From an analysis of transactions by theedgeproperty.com, the average transacted price for non-landed residences in the secondary market was RM629 per square foot (psf) in 1Q2015, down 11.3% y-o-y.
   
• Due to the low-density nature of many of the luxury condominiums, transactions were few and far between, with the average price per period varying greatly. Hence in calculating average annual price growth, only projects with more than five transactions per period were considered.
   
• The average price at Desa Angkasa grew 17.2% y-o-y to RM775 psf in the 12 months to March 2015. Desa Angkasa consists of 126 units in low-rise blocks, located just 100m away from the former British High Commission premises that was sold to S P Setia in late 2012 for RM2,200 psf.
   
• The Nomad Sucasa (+16.3% to RM699 psf) and 202 Desa Cahaya (+14% to RM566 psf) are similarly slightly dated luxury condominiums that have aged well due to quality design and good-maintenance.
   
• Rental yields in Ampang are higher than in many other Klang Valley neighbourhoods due to an active expatriate rental market. Indicative rents as observed from listings vary between RM1.78 psf at GCB Court to RM4.35 psf at myHabitat, with annual asking rental yields of 5% to 7%. Among the luxury condominiums and newer projects, rental rates range from RM3.50 psf to RM4.20 psf, with yields of 4% to 5.1%.
   
• With numerous upcoming developments (18 Madge, Arte+, Astoria Ampang, Damai 88, M City, NOVO Ampang and Three 28 Tun Razak) contributing up to 4,000 new units, the rental market will be competitive.

Looking for the prosperous-sounding Damai 88? Tap here to find out!

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.