PROPERTY SNAPSHOT 3: What are developments priced in Kelana Jaya?

•    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 had remained steady at RM431 psf in 1Q2015.

•    Up until recently, residences here primarily fell within the mid-end segment. In the 12 months to 1Q2015, more than half (58.4%) of the secondary non-landed residential transactions were within the RM401 – RM600 psf range. Another 26.5% fell within the RM201 – RM400 psf range.

•    The priciest residences in the neighbourhood were led by Zenith Residences (RM598 psf), Kelana Mahkota (RM473 psf) and Sterling Condominium (RM472 psf), all of which were developed by South Malaysia Industries Bhd. Situated behind Paradigm Mall, these three projects are located adjacent to each other, though they present vastly different facades.

•    Zenith Residences is one of the latest completed projects and is part of a mixed development, located atop the Zenith Corporate Park. Typical units here are from 710 sq ft to 1,173 sq ft. In June 2014, a 901 sq ft unit here had transacted for RM707 psf making it the most expensive transaction in Kelana Jaya during the review period. In comparison, Gamuda Land’s upcoming HighPark Suites are reported to be priced from RM900 psf.

•      Kelana Mahkota is the oldest of the trio, having been completed in 2005. However, due to its strategic location, the numerous facilities offered and good maintenance, this condominium remains in demand, and its value has continued to appreciate with time.

Click here to check out the price trends at Kelana Mahkota.

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.