PROPERTY SNAPSHOT 4: What’s hot in Wangsa Maju?

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

•    Based on analysis of transactions by theedgeproperty.com, average prices grew 17.7% y-y to RM356 per square root (psf) in 1Q2015. Capital values have appreciated most among the mass-market products.

•    In terms of average price growth, Pangsa Murni leads with the average price up 36.5% to RM320 psf. Completed in 1985, this project consists of 110 units spread out over 14 blocks of low-rise, walk-up apartments.

•    Within the mid-end condominium segment, the average transacted price at Wangsa Metroview gained the most, up RM61 psf or 16.3% y-o-y, to RM433 psf. Completed in 2005, this condominium is located close to the commercial shops of Taman Sri Rampai. The 1,152 sq ft, 3-bedroom units here had transacted for prices between RM515,000 to RM580,000.

•    Prospective buyers in the mid-end segment would find good opportunities at Sri Jelatek, Sri Kenangan and Sri Ledang. In the period reviews, the 3-bedroom properties here measure about 1,100 to 1,200 sq ft and transacted for between RM300,000 and RM380,000.

•    The local rental market is partly supported by the student population from Tunku Abdul Rahman University College. From observation of asking rentals as at June 2015, asking rental yields range between 5.3% - 6.6% per annum. The highest asking yields can be found at Menara Alpha (6.6%). This condominium has an asking monthly rental rate of RM1.71 psf and transacted capital cost of RM313 psf, and is located close to Wangsa Maju LRT Station (pictured) and the Taman Sei Rampai shops.

Check out the price trends at Wangsa Metroview.

Related stories:
PROPERTY SNAPSHOT 1: Development activity intensifies in Wangsa Maju
PROPERTY SNAPSHOT 2: What’s affordable in Wangsa Maju?
PROPERTY SNAPSHOT 3: What are the prices of developments in Wangsa Maju?