PROPERTY SNAPSHOT 4: What's hot in Damansara / Bandar Utama?

• These are the price growth trends and indicative asking rental yields for non-landed residences in Damansara/Bandar Utama. Based on an analysis of transactions by theedgeproperty.com, average prices retreated 6.6% y-o-y to RM493 per square root (psf) in 3Q2014.
   
• In terms of relative growth, the mid-cost apartment Flora Damansara (22% y-o-y) appears to have gained most in the 12 months to September 2014. The projects that gained the most in capital value are well-located. Residents at Pelangi Damansara (16.9% y-o-y) and Surian Condominium (13.4% y-o-y) will soon be able to walk to the Mutiara Damansara MRT Station, while residents at 1 Bukit Utama (16% y-o-y) will soon benefit from both the 1 Utama LRT and MRT interchange.
   
• From observation of asking rents as at June 2015, rental rates are about RM2.10 psf for older condominiums, and about RM3.10 psf for smaller units. Asking annual rental yields are between 3.9% and 6.1%. Most of the highest rental yields are for projects in Damansara Perdana.
   
• Damansara Perdana is becoming the next centre of development with numerous large-scale projects planned, led by Mammoth Empire Group. Elsewhere, Damansara Uptown is also booming and will include Uptown Residences, Somerset Hotel, an office tower and a mall. With public infrastructure projects such as the MRT Sungai Buloh – Kajang line and the LRT 3 (Bandar Utama – Klang Line) due, there will be no dearth of catalysts for the property market here.

Related stories:
PROPERTY SNAPSHOT 1: The ever-accelerating Bandar Utama / Damansara 'hood
PROPERTY SNAPSHOT 2: What’s affordable in Damansara / Bandar Utama?
PROPERTY SNAPSHOT 3: What are the prices of developments in Damansara / Bandar Utama?

Best bang for the buck? Tap here to compare price trends at Uptown Residences with neighbouring developments.

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.