PROPERTY SNAPSHOT What’s affordable in Cheras?

•    Cheras is now enjoying renewed interest, thanks to the upcoming MRT line and the entry of established developers such as Sunway and Boustead.

•    Absolute prices for non-landed properties in Cheras are affordable, although part of it is being skewed by a large number of low-cost flats transacted. In 3Q2014, the average price per square foot (psf) for non-landed properties increased by 1.5% y-o-y to RM334 psf.

•    Based on analysis by theedgeproperty.com, the majority (31.9%) of transactions were for units in the RM300,001 to RM400,000 price range, followed by 22.8% for RM200,001 to RM300,000 range. Prices in the highest bracket, RM700,001 to RM800,000, accounted for just 0.2% of transactions.

•    Some 49.5% of units transacted were in the RM201 to RM400 psf range, followed by RM401 to RM600 psf (25.7%) and under RM200 psf (19%).

•    The most expensive development was Prima Midah Heights, with an average transacted price of RM643,909. Developed by the UOA group, the project in Taman Midah has large-sized units of above 1,400 sq ft.

•    This was followed by Amaya Maluri (RM586,706), D’Alamanda (RM502,324), Ketumbah Hill (RM426,797) and Pertama Residency (RM417,727).  Besides Ketumbar Hill, the others are located close to the Cochrane area, which is being redeveloped by Boustead. Findings from theedgeproperty.com show that over 60% of the projects transacted above RM400,000 were near the Cochrane area.

•    The least expensive units are mostly old, low-cost walk-up flats, such as Flat Taman Desa Cheras (RM66,778) and Segar Perdana (RM88,917). Mid-market options include Pangsapuri Lestari (RM245,000), Prisma Perdana (RM271,824) and Ketumbar Heights (RM275,667).

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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