PROPERTY SNAPSHOT 4: What’s hot in Cheras South?

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

•    Today, we look at price growth and indicative asking rental yields for non-landed residences in Cheras South.

•    From analysis of transactions by theedgeproperty.com, most of the projects surveyed charted strong annual gains in average price per square foot (psf) in the 12 months to September 2014, albeit from a low base. The highest growth in capital values can be found at the Taman Minang Flats, with the average price here up 44.1% y-y to RM144 psf.

•    Vistana Mahkota is the next top performer, with a growth 38.7% y-y to RM291 psf. This medium-cost apartment is one of the newer affordable properties, having been completed in 2012. Due to its age and the decent facilities offered, this property has been in great demand. The average price here charted the highest absolute gains, up RM81 psf over the year.

•    From observation of asking rentals as at June 2015, Venice Hill appears to generate the highest annual asking rental yields at 7.1%. This property offers relatively low prices and rents for condominiums with facilities and views over Kuala Lumpur. Renters would be able to find 3-bedroom units here for just RM1,200 a month. Livia Residence at C180 is next, with indicative rental yields at 5.5% per annum.

•    With many new properties coming up, renters can expect to have more choices in the future. Among the new developments, the You City mixed development is expected to be located within walking distance of the Taman Suntex MRT Station. The upcoming Sungai Buloh – Kajang MRT line is further expected to boost the rental market and help alleviate traffic in Cheras. 

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.