A Promising Future Holds For Puchong And Rawang

A Promising Future Holds  For Puchong And Rawang

From small mining and plantation towns, Puchong and Rawang have since seen rapid growth in properties since 1990. What used to be a single two-lane road running through estate and villages filled with rubber estates and oil palm plantations are now experiencing the spillover effect of urbanisation from Kuala Lumpur city centre. 

 

Liveable Puchong

Puchong, once a haven for rubber and tin in the 1960s is no longer the same and has transformed into one of the fastest growing commercial and residential districts in Selangor, thanks to the pioneer developer in the township – IOI Properties Bhd, which was followed by other developers soon after.

The Puchong township appears to have successfully balanced out between development and nature with the Ayer Hitam forest reserve providing Puchong’s estimated population of more than 400,000 some relief from the concrete jungle – perhaps the near perfect place to start and raise a family for today’s modern Malaysians.

The property market in Puchong has been going strong since its major developments in the 1990s and the price of properties in the township has never seen a negative trend, not even during the 1997 economic turmoil.

With the light transit rail (LRT) making its presence in Puchong, the populace can expect easier and smoother traffic. The full extension system from LRT Ampang Line is expected to be opened and fully operational by March 2016. 

According to James Tan, Associate Director of Raine & Horne International, this LRT extension will make Puchong part of the  ‘Golden Ring’ encompassing Puchong, USJ, Subang Jaya and the areas around Sungai Besi bypass.  

Currently, the main highways  serving the Puchong area are the Damansara – Puchong Expressway (LDP) and Shah Alam Expressway (KESAS) other than Jalan Puchong. The proposed Serdang-Kinrara-Putrajaya (SKIP) Expressway  will help alleviate traffic congestions along the  LDP during rush hours. The new highway stretching 17.5 km, will enhance the accessibility and connectivity of Serdang, Sri Kembangan and Kinrara.

Properties in Puchong consist mainly of apartments, flats, terrace houses, condominiums, and semi-detached houses with a large number of reasonably priced residences. Based on brickz.my data analysis of Puchong from 2014 – 2015, the average transacted price as of September 2015 for landed properties is at RM671,800 with a decline in annual growth of 5.89% in average price per sq ft; while non-landed properties’ average transacted price is at RM316,564 with an annual growth of 0.34%. 

The performance of the Puchong property market has been quite a consistent as illustrated in the graphs attached. The whole Puchong area has grown in and around the LDP; as confirmed by the rise in property prices.

RAWANG ON THE RISE

Founded in the early 19th century, Rawang was one of the earliest satellite towns of Kuala Lumpur pioneering in tin mining and rubber. Since the North-South Highway (PLUS) started its operations in the 1990s, the area of Rawang has experienced tremendous growth in both development and population.  The township is home to various new and old housing areas, namely the Rawang Putra, Taman Bukit Rawang, Taman Pelangi, Rawang Perdana, Bandar Country Homes, Taman Tun Teja, and Bandar Tasik Puteri. Few of the first modern housing estates, such as Rawang Garden and Green Park were mostly developed by Lim Tan & Sons Management Sdn Bhd. 

Newer upscale neighbourhoods that emerged in the recent years such as Hong Leong Emerald, Hong Bee Anggun, Lake Club Parkhomes and M Residences added greater infrastructure into the township with the introduction of gated and guarded development for private living.

According to Daniel Yap How Bin, Senior Sales Manager of GS Realty Sdn Bhd, Rawang is one of the hottest developments in Northern KL and it will transform into a thriving township like PJ due to the incoming projects by prominent developers. Areas to look out for in the future developments in Rawang are Ijok, Batang Berjuntai and Kuala Selangor.

Residential properties in Rawang mainly consist of terrace houses, apartments and flats with a large number of houses within the affordable range. Based on brickz.my data analysis of transactions from 2014 – 2015, the average transacted price as of September 2015 for landed properties in Rawang is at RM411,192 with an annual growth of 25.16% in average price per sq ft while non-landed properties’ average transacted price is at RM84,769 with an annual growth of 3.18%.

This positive growth for both type of properties in Rawang appear to be a good platform for investors to capitalize in the township.

 

 

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