News by TheEdgeProperty.com

Today, we continue our focus on Kelana Jaya by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by TheEdgeProperty.com, the average price of non-landed homes in the area has remained steady at RM431 psf in 1Q2015.

Home to Paradigm Mall and serviced by the Kelana Jaya LRT Line, Kelana Jaya is a highly popular neighbourhood. Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price was RM431 psf in 1Q2015 while the average transacted price per unit was about RM516,000.

This week, the spotlight falls on the secondary market of non-landed residences in Kelana Jaya, Selangor. The areas covered include Aman Suria, Taman Mayang, Taman Mayang Jaya, Taman Bukit Emas, Taman Kelana Idaman, SS3, SS4, SS5, SS6 and SS7.

The Plaza Rakyat project was abandoned in 1997 during the Asia-Pacific financial crisis and after developer Plaza Rakyat Sdn Bhd ran into financial problems.

New ruling applies to all (local and foreign) skilled construction workers and site supervisors, but excludes general construction workers.

IQI Group Holdings chief economist/investment strategies Shan Saeed said Malaysia's property segment was growing in a structured manner and this would continue to attract investments from Europe, China, Japan and South Korea.

Average prices have grown modestly across the market. The highest relative price growths were among the affordable properties, in part due to their lower capital bases. The top three performers were Indah Apartment, Medan Intan Apartment and Idaman Suria, with prices up 34.9%, 31.4% and 25.4% respectively.

Fomca deputy president, Mohd Yusof Abdul Rahman, said the banking industry should consider such a scheme as its corporate social responsibility.

 The property market in Setapak consists mainly of mass-market condominiums and apartments.

DBKL executive director of economic development, Datuk Mohd Sauffi Mohamad said stern action will be taken against those who abuse the PPR and PA housing schemes. "We take back the houses," he warned.