PROPERTY SNAPSHOT 4: What’s hot in Kelana Jaya?

•    Today, we look at price growth and indicative asking rental yields for non-landed homes in Kelana Jaya. From analysis of transactions by TheEdgeProperty.com, the average transacted price for non-landed homes in the secondary market had remained stable at RM431 psf in 1Q2015.

•    Growth in average prices was more significant among the more affordable properties. The top performer by relative average price growth was Kelana Impian, with prices up 21.8% to reach RM341 psf in the 12 months to 1Q2015. This was followed closely by the adjacent Pangsapuri PKNS SS3, with prices up 16.1%. Demand for these properties are likely buoyed by their proximity to the Sungai Way Free Trade Industrial Zone, located just across the Damansara-Puchong Expressway.

•    Average prices have also grown significantly at Dataran Prima Condominium, appreciating 13.6% to reach RM466 psf. This project will benefit from the new LRT3 Line (Bandar Utama–Klang Line). The upcoming Dataran Prima LRT station will be located just opposite the New Klang Valley Expressway.

•    The highest rental rates can be found among properties located within the vicinity of Paradigm Mall. Similarly, these properties also appear to generate the highest annual indicative yields.

•    These properties are set to benefit further from the Kelana Jaya LRT extension and the new LRT3 Line. Both Suria Damansara condominium and Kelana Idaman will be located within walking distance from the upcoming Ara Damansara LRT station. Meanwhile, the Glenmarie station will be located closest to Shang Villa condominium, while the Persada PLUS station will be located close to the cluster of condominiums behind Paradigm Mall, though access is hampered by the NKVE-Subang toll plaza.

Click here for the price trends at Kelana Impian.

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.