PROPERTY SNAPSHOT 4: What’s hot in Ampang?

This is the final part in a series of four snapshots on Ampang.

•    We look at price growth and indicative asking rental yields for non-landed residences in Ampang, Selangor. Lacking catalysts, secondary market prices inched up slightly while transaction activity was muted in 3Q2014. Based on transactions analysed by theedgeproperty.com, average prices gained only 2.0% y-o-y to RM272 per square root (psf).

•    A few projects outperformed the local market. In the 12 months to September 2014, the average price at D’Casa Condominium gained 36.6% y-o-y to RM275 psf. Located in Taman Sri Watan typical units are between 883 sq ft and 958 sq ft. With asking prices of between RM300,000 and RM340,000, it is an affordable option for living close to the city centre. 

•    Another viable option is The Chancellor. Its average price grew 30.4% y-o-y to RM263 psf. Located in Taman Kosas, it has slightly more facilities and larger units than D’Casa. In the review period, typical 3-bedroom units (1,378 sq ft ) transacted between RM220 – RM280 psf.

•    As at June 2015, asking rental yields appear above average, an an indicative 5% - 7.2% per annum. The rental market is supported by the area’s proximity to the city centre and partly by the expatriate population.

•    The highest yields can be found at leasehold projects along the arterial Jalan Ampang. Tiara Ampang (7.2%) and Kojaya (7.0%) are just off Jalan Ampang, close to Ampang Point mall. They enjoy quick access to the city centre via the Ampang- Kuala Lumpur Elevated Highway.

•    Desa 288 (next to Tiara Ampang) and Ukay Bayu appear to generate the highest indicative rental yields at 7.6% each. However, there were insufficient listings to make a statistically sound inference.

Check out what's hot and what's not in our heat map here.

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