PROPERTY SNAPSHOT 4: What's hot in Central City KL?

• Here are the trends for price growth and indicative asking rental yields for non-landed residences in Central City Kuala Lumpur, excluding the KLCC area. Analysis by theedgeproperty.com shows that the average transacted price for non-landed residences on the secondary market was RM687 per square foot (psf) in 1Q2015, up 11.7% y-o-y.
   
• As prices in urban areas of Greater KL hit new heights, mid-market products appear relatively attractive. Savvy buyers have found that the slightly older condominiums offer a good balance of price, location and facilities, and thus register the highest growth in capital values.
   
• Among mid-range condos with the highest average price growth in the 12 months to 1Q2015 were Kenanga Point (20.3% to RM464 psf), Angkasa Impian (+18.6% to RM551 psf) and Villa Puteri (+10.1% to RM463 psf).
   
• The city has an active expatriate rental market given the concentration and accessibility of its offices, entertainment venues and amenities. Average rents at high-end condos range between RM4.53 psf at One Residency and RM6.04 psf at Pavilion Residences.
   
• The highest annual asking rental yields are found at The Forum (7%) on Jalan Tun Razak. Capital values at this older, dignified property have hardly grown, but it commands relatively high rents being walking distance to Bukit Bintang. The future Tun Razak Exchange (TRX) MRT Station nearby will boost rents here. Other projects in this rental yield range are Villa Putera (6.5%) and Villa Puteri (5.9%), located nearer the Putra World Trade Centre area.
   
• With numerous projects planned, such as the Bukit Bintang City Centre, TRX and the MRT Sungai Buloh-Serdang-Putrajaya Line, properties in the city will likely remain in demand for both investors and renters alike.

Related stories:
PROPERTY SNAPSHOT 1: Central City KL condos moderating
PROPERTY SNAPSHOT 2: What’s affordable in Central City, KL?
PROPERTY SNAPSHOT 3: Central KL, city of price extremes




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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 becomes available.