PROPERTY SNAPSHOT 3: What are the prices of developments in Wangsa Maju?

• We continue our focus on Wangsa Maju by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by theedgeproperty.com, the combined average price of condominiums and apartments in the area was RM356 psf in 1Q2015, up 17.7% y-o-y.
   
• The older buildings here consist of low-cost flats and apartments. In the 12 months to 1Q2015, some 63.6% of secondary transactions were for properties priced between RM201 – RM400 psf. Another 30.2% of transactions were for properties priced between RM401 – RM600 psf.
   
• The most expensive address was Desa Putra, with an average transacted price of RM555 psf, due to its proximity to the Sri Rampai LRT station.
   
• The next-most expensive was Riana Green East, located near the commercial areas of Wangsa Walk Mall and AEON Big Wangsa Maju. There is a range of unit sizes here. In the review period, the 1,087 sq ft, 2-bed units transacted for between RM414 – RM506 psf.
   
• In contrast, the newer condominiums are setting new price benchmarks. Located right next door would be Seri Riana Residence. Units in Phase 2 reportedly sold for about RM600 psf. Similarly, Wangsa 9 was reportedly sold for between RM600 – RM700 psf.
   
• Surprisingly, Rampai Court, a walk-up apartment, has a relatively high average transacted price, at RM418 psf. This is due to its compact unit sizes (600 sq ft for a 2-bedroom unit). As such, the price quantum is low, with units here transacting at an average of RM248,000. 

Related stories:
PROPERTY SNAPSHOT 1: Development activity intensifies in Wangsa Maju
PROPERTY SNAPSHOT 2: What’s affordable in Wangsa Maju?

Where is Riana Green East? What is it? Tap here to find out!

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.