Unlike its more established neighbours of Bangsar and Mid Valley, the Kerinchi/Pantai areas have yet to be fully gentrified. Here, one would find the whole gamut of residences from low-cost flats, to student housing, to luxury condominiums.
This week, the spotlight falls on the secondary market of non-landed residences in Kuala Lumpur’s Bangsar South, Pantai and Kerinchi areas.
Overall, capital values in Bangsar have remained stable. The top performers were the older mid-end properties. The highest relative price growth can be found at Jamnah View, with the average price up 23% to reach RM898 psf in the 12 months to 1Q2015. The 1-bedroom units here have begun to surpass the RM1,000 psf threshold.
The condominiums offered in Bangsar consist primarily of large, exclusive, family-style units.
Commonly referred to as the Beverly Hills of Kuala Lumpur, Bangsar is an elite enclave, dominated by landed housing and exclusive, low-density, boutique condominiums.
This week, the spotlight falls on the secondary market of non-landed residences within the highly popular neighbourhood of Bangsar.
“Auctions are no longer for just distressed properties. With the right knowledge and skills, non-distressed properties in the secondary market can be sold with style through auctions,” said Malaysian Institute of Estate Agents (MIEA) state branch chairman Lim Boon Ping of Kim Realty.
On closer inspection, the growth in average price is derived from a lack of transactions in the relatively lower-end segment. Few observed projects displayed significant actual appreciation in capital values.
Of the top five most expensive projects, most of them (with the exception of The Troika) have smaller than average unit sizes in order to cater to different needs.
KLCC remains the most exclusive address in the country, with prices here reflecting the prestige of living in the heart of the city.
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