PROPERTY SNAPSHOT What’s hot in Sentul?

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

• The development of the Sentul Masterplan has benefitted all existing developments in the Sentul area. All non-landed residences surveyed have shown price appreciation over the past 12 months to 3Q2014.

• From an analysis of transactions by theedgeproperty.com, the older properties have led in price growth, given their low starting price points. Sentul Park Apartment saw the highest growth of average price per square foot (psf), up 21.3% y-y to RM188 psf, although from a low pricing base.

• Developments located further away such as Pelangi Condominium and 1 Sentul have also enjoyed the spillover effects. The former is up 21.2% to RM332 psf while the latter is up 14.4% to RM476 psf.

• From an observation of rental listings as at February 2015, asking rental rates for the older developments in Sentul generally range between RM1.40-RM2.00 psf, while rental rates for the condominiums within the Sentul Masterplan range between RM2.00-RM2.50 psf.

• From rental listings, it appears the highest rental yields can be found at Menara Orkid, with asking rental yields at an estimated 7.3%. The elevated yields here are supported by its close proximity to the Sentul LRT Station as well as low sale prices as the apartments have few facilities.

• With the steady supply of units, the rental returns at developments within the Sentul Masterplan are somewhat subdued. In the future, rental rates may have potential upside with a station of the upcoming MRT Sungai Buloh-Serdang-Putrajaya Line proposed at Sentul West.

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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