PROPERTY SNAPSHOT 4: What’s hot in Tropicana/Sunway Damansara?

•    Today, we look at price growth and indicative rental yields for non-landed homes in Tropicana/Sunway Damansara. From the analysis of transactions by TheEdgeProperty.com, the average transacted price for non-landed homes in the secondary market was RM518 psf in 1Q2015.

•    Buoyed by the upcoming MRT and LRT lines, capital values had appreciated moderately across most properties in the 12 months to 1Q2015. The highest relative growth can be observed at Sunway Sutera Condominium, where the average price grew 11.6% y-o-y to reach RM544 in the 12 months to 1Q2015.

•    Capital values may have been buoyed by new projects in the vicinity. They include the Tropicana Avenue mixed development comprising offices, retail and residences. The neighbourhood is also home to the new Tropicana PJ Campus of St Joseph’s Institution International School Malaysia, which will begin operations this year.

•    Rental yields at Tropicana and Sunway Damansara are suppressed due to the high capital values of properties as well as the lack of public transportation.

•    The highest indicative rental yield as observed from asking rentals was from Mutiara Oriental (5.3%). This project is located at the southern end of the Tropicana enclave, close to Taman Bukit Mayang Emas and Kampung Cempaka. Hence, capital values here remain relatively lower.

•     Rental interest is likely to pick up with both the Sungai Buloh–Kajang MRT Line (MRT1) and the Bandar Utama–Klang LRT Line (LRT3) traversing the region.

Click here for the price trends at Sunway Sutera Condominium.

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