PROPERTY SNAPSHOT 4: What’s hot in Puchong?

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

•    Today, we look at price growth and indicative asking rental yields for non-landed residences in Puchong. From analysis of transactions by theedgeproperty.com, low-cost apartments displayed the largest percentage growth in average transacted price per square foot (psf).

•    The highest growth in capital values are found at Permai Villa, with an average price up 46% y-y to RM229 psf in the 12 months to September 2014. This may likely be due to its strategic location close to two upcoming LRT stations in Taman Puchong Perdana. There are very few residential high-rises located close to the LRT stations in Puchong as the stations are located mostly along the LDP highway and within landed residential or commercial precincts in Taman Industri Puchong, Taman Puchong Perdana and Taman Puchong Prima. Other developments that will benefit most from the LRT extension are Permai Court, Desa Idaman, Desa Impiana, Vista Millennium and Aurora Residence.

•    Most notably, half of the top 10 condominiums/apartments that registered the highest percentage growth are from Bandar Puteri Puchong. They are Sri Begonia Apartment (33.3%), Sri Alpinia (32.7%), Seri Jati Apartment (30.3%), Sri Pinang (29.2%) and Puteri Bayu (27.6%).

•    The Puchong rental market is a renters' market, with ample supply of units available. As a result, asking rental yields observed are fairly average, ranging between 3.7% — 5.7% annually.

•    Future supply, as well as new pricing benchmarks, will come from the many ambitious township projects planned by established developers such as the Festival Lakecity by Mah Sing Group and D’Island Residence by LBS Bina. IOI Properties Group still has a sizable land bank there.

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.

Related story:
PROPERTY SNAPSHOT 1: Puchong’s story continues
PROPERTY SNAPSHOT 2: What’s affordable in Puchong?
PROPERTY SNAPSHOT 3: What are developments priced in Puchong?