PROPERTY SNAPSHOT What’s hot in Dutamas?

• Today we look at price growth and indicative asking rental yields for non-landed residences in the Dutamas area.

• Existing developments in Dutamas have shown strong appreciation over the past year. From analysis of transactions in the 12 months to 3Q2014 by theedgeproperty.com, Prima Ria saw the highest growth of average price per square foot (psf), up 18.3% y-y to RM385 psf, although from a low pricing base. Anggun Puri also enjoyed strong price appreciation, up 17.8% y-y to RM510 psf.

• The average price at Sri Putramas 1 at Jalan Kuching grew 18% y-y to RM432 psf. Prices here are likely buoyed by the completion of the sister building Royal Regent Sri Putramas 3, which was completed at end-2013. The units at the Sri Putramas buildings were among the most highly transacted in the period observed, likely due to its high density.

• From an observation of rental listings as at February 2015, asking monthly rental rates for projects in the Dutamas area generally range from between RM1.50-RM2.50 psf, as most are medium cost units.

• The units at Solaris Dutamas are an exception, with an average asking rental rate of RM4.14 psf. This development commands a large premium over its peers. Asking rental yields here are also very decent at 5.5%.

• From rental listings, it appears the highest rental yields can be found at Hartamas Regency 1 and 2, with asking rental yields of 6.1% and 5.7%, respectively. Given the developments’ proximity to the many international schools in the area, the rare family-sized large units found at these projects are able to fetch slightly higher than average rental rates.

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.

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