PROPERTY SNAPSHOT What’s hot in Kelana Jaya?

•    Today, we look at price growth and indicative asking rental yields for non-landed residences in Kelana Jaya.  The property market here has benefitted from the success of Paradigm Mall. Based on analysis of transactions by theedgeproperty.com, the average price grew 15.9% y-y to RM455 per square root (psf) in 3Q2014.

•    Many of the top-performing properties are located within the vicinity of Paradigm Mall. They are Kelana D’ Putera (up 23.3% y-y), Tiara Kelana (up 20.9% y-y) and Sterling Condominium (up 20.4% y-y).

•    Kelana Impian recorded the highest growth of average price psf, up 49.5% y-y to RM365 psf in the 12 months to 3Q2014. Upon closer examination, the data reveals that there were a few undervalued transactions of the development in the preceding year, which led to a lower base. Located just off the LDP highway, this freehold development in SS8 is close to the amenities in SS2 and SS3, and Mah Sing Group’s new Icon City.

•    Monthly rental asking rates typically range between RM1.30 psf and RM1.50 psf. Generally, the condominiums around Paradigm Mall are able to command better rates. The highest rental rates can be found at Dataran Prima Condominium, with an average of RM1.77 psf.

•    Typical indicative rental yields in Kelana Jaya range between 2.8% and 5.5%. They are led by Tiara Kelana (5.5%) and Suria Damansara (5.3%).

•    Suria Damansara could benefit from the Kelana Jaya LRT extension, with the upcoming Ara Damansara LRT Station within walking distance. Properties located closer to Paradigm Mall and Icon City could also benefit from new pricing benchmarks at these developments.

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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