PROPERTY SNAPSHOT What’s hot in Cheras?

•    Today, we take a look at capital appreciation and indicative asking rental yields for non-landed homes in the Cheras area.

•    While the average price growth on a per square foot (psf) basis for the year to 3Q2014 was relatively low at 1.5% (but following a 22.3% jump the year earlier), analysis by theedgeproperty.com shows that some developments managed to secure above 20% growth.

•    In that period, Cemara Apartment in Bandar Seri Permaisuri outperformed the others, with a jump of 29.8% y-o-y to RM382 psf. Although the apartment complex is basic, it is close to highways and amenities.

•    Projects in the same price bracket that fared well were Villa Tropika @ Pudu Impian II (up 22.6% to RM341 psf), Seri Mas in Taman Ikhsan (up 22.2% to RM288 psf), and Seri Cendekia in Taman Connaught (up 21.7% to RM297 psf).

•     Prima Midah Heights, the most expensive address in terms of absolute prices, chalked up a strong 20.6% increase to RM436 psf. Coupled with its large sizes, it indicates a growing demand from among the upper-middle class. 

•    Rental yields are surprisingly decent, with many developments yielding above 5% due to reasonable capital values. Monthly rental rates on a psf basis mostly range from RM1.40 to RM1.60 psf.

•    In terms of asking rental yields, Vistaria Residensi has the highest at 6.8% with an average asking monthly rent at RM1.77 psf.  Located off Jalan Cheras, this property is relatively new, close to Shamelin Business Centre.

•    Other projects with high asking rental yields are Putra Suria Residence (6.2%) and Pangsapuri Lestari (6.0%), both in Bandar Sri Permaisuri; and, Prisma Perdana in Taman Midah (5.6%) and Seri Cendekia.

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.

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