PROPERTY SNAPSHOT 1: Taman Desa enjoys steady interest

•    This week, the spotlight falls on the secondary market of non-landed residences in Taman Desa, Kuala Lumpur. Originally developed in the 1970s, Taman Desa is now a mature and well-established neighbourhood. The area is known as the home of Desa Waterpark, Taman Desa Medical Centre as well as numerous upmarket dining spots.

•    With its strategic location close to Old Klang Road, Mid Valley City and the Kuala Lumpur city centre, properties in Taman Desa enjoy steady demand. Due to the lack of vacant land, prices of existing condominium units have been gradually appreciating.

•    Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed homes grew over 2013 and 2014 to reach a new peak of RM480 psf in 1Q2015. This represents a strong 24.4% y-o-y jump from RM386 psf in 1Q2014.

•    On the other hand, transaction activity slowed in 2014 with transaction volume for the 12 months to 1Q2015 retreating 30.9% y-o-y from 333 units to 230 units.

•    Both average price and transaction volume are expected to pick up to reflect the area’s newest developments, which are noticeably more high-end than the existing supply. Among the latest projects are Desa Eight and Desa Green, both by UOA Development Bhd.

•    Other future catalysts for Taman Desa include Bandar Malaysia, which is located just north of Taman Desa across the East–West Link Expressway (also known as Salak Expressway).

Want to know the price trends at Desa Eight. Click here.

The Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.