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• Today, we continue our focus on Brickfields by looking at development prices on a per square foot (psf) basis. Based on transactions analysed by theedgeproperty.com, the average price psf of non-landed properties was RM762 psf in 3Q2014.
• In the 12 months to 3Q2014, about 33% of transactions were for properties in the RM401-RM600 psf range, followed by 19.3% for the RM801-RM1,000 psf range. The large spread between these two price brackets reflects the different market segments available.
• There is a large premium for developments located within KL Sentral, with a premium of at least 40%-50%. Location, immediate surroundings, building age and maintenance are some of the key determinants of value for projects outside KL Sentral.
• The most expensive developments are Suasana Sentral Loft (RM1,006 psf) and Suasana Sentral Condominium (RM989 psf), both within KL Sentral. This was followed by Dua Sentral (RM964 psf), a hotel suites project; Residency Mutiara (RM684 psf) and 633 Residency (RM666 psf).
• At the other end, the least expensive developments are Crescent Court (RM341 psf), Menara Puteri (RM352 psf) and Menara Pelangi (RM473 psf). These are older projects located further away from KL Sentral.
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.
Related stories:
PROPERTY SNAPSHOT Brickfields prices hit new high
PROPERTY SNAPSHOT What’s affordable in Brickfields?
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