Bangi: Property Figures

Bangi: Property Figures

The neighbourhood which saw the highest number of residential property transactions is Seksyen 4 Bandar Baru Bangi [BBB] (39) followed by Bandar Sri Putra (31).

According to Aziz Ahmad, Founder of hartanahguru.com, Seksyen 4 BBB is divided into two, namely – Seksyen 4 and the newer Seksyen 4 Tambahan. The latter consists of older landed residential properties (roughly 20 years old) priced within RM400,000 – RM500,000 while residential properties in the newer section mainly consist of newly completed houses priced from RM600,000 onwards. As both this price ranges are considered affordable, the area is popular among homebuyers.

In terms of location, Seksyen 4 is very strategic – it is located in between of two access points; the North-South Expressway (PLUS) and the Kajang Dispersal Link Expressway (SILK) Highway.

On top of that, a flyover connecting BBB and Kajang 2 is currently under construction. Seksyen 4, which is in the middle of these two points will definitely benefit in terms of enhanced connectivity and it will be the nearest neighbourhood to the upcoming Kajang 2, a 270-acre freehold township fronting Jalan Reko. Kajang 2, designed as a live, work and play development, is expected to draw a population of 25,000 to 30,000 people.

Seksyen 4 is also close to Jalan Reko, which connects BBB to Kajang – its central location is most probably its main selling point.

Similarly, Bandar Sri Putra (BSP) is popular among homebuyers due to its strategic location. It is the nearest township to the Putra Mahkota toll along the PLUS Highway and is surrounded by many other townships including Bandar Bukit Mahkota, Puteri Mahkota, Bangi Avenue, Serene Heights and Alam Sari.

As BSP is located in the middle of Kuala Lumpur and Seremban and along the Multimedia Super Corridor, it is fast becoming the choice of residence for those working in the KL city centre, Putrajaya and Seremban.

Aziz Ahmad also explained that its developer, UMLand has done a great job with BSP’s master plan. The township offers a variety of properties and price ranges to choose from including 2-storey terrace houses, townhouses, semi-Ds, bungalows, bungalow lots, low-cost flats and medium-cost apartments with complete facilities. Thus, catering to a wide range of homebuyers with different levels of purchasing power.

Furthermore, the residential properties in BSP are comparatively cheaper than its neighbours (except Bukit Mahkota) as there are quite a few secondary properties which are 10-15 years old. Potential homebuyers could possibly purchase landed homes and apartments for less than RM500,000 and RM250,000, respectively.

There are many amenities and facilities within a short drive away from BSP, including grocery shops, numerous eateries and clinics. Even though BSP does not have it own entertainment center, medical center and shopping mall, its residents can enjoy the amenities in the neighbouring townships. They have the option to shop or get medical attention at Bandar Baru Nilai, Putrajaya or BBB, which are all less than 20 minutes away.

There are primary, secondary and Islamic schools located a short distance away from the township as well. It includes Kolej Universiti Islam Selangor (KUIS) and SK Bangi.

GROWTH POTENTIAL

Aziz Ahmad believes that the rental market in Bangi will remain healthy moving forward, rental prices will gradually increase as the cost of living increases and more buyers purchase newer properties in the area.

At this point of time, the average monthly rental rate for landed properties in Bangi is roughly RM1800 and RM1200 for non-landed properties.

The building type that registered the highest number of units sold was Terraced Houses (155), Apartments (83), followed by Flats (60).

Aziz Ahmad foresees this buying trend to be similar for the next 3 – 5 years as the majority of residential properties in Bangi (including upcoming ones) are landed properties followed by apartments.

Also, the properties’ prices are relatively cheaper than its Kuala Lumpur counterparts. A double-storey terrace house in Bangi would have the same price tag as a standard apartment located in the city centre. With Bangi located within a convenient distance of the KL City Centre and Putrajaya, most buyers are willing to forgo shorter commutes for a better living environment.

The total number of transactions for landed properties in Bangi was 193 with an average price per sq ft of RM262.

Aziz Ahmad attributes the increase in 7.3% between Jan and Oct to the hike in demand from home buyers and there being no new supply of landed residential properties priced less than RM650,000.

He explained that Bangi is fast gaining popularity among Malay home buyers. The two suburbs on their list include Shah Alam and Bangi. As the homes in Shah Alam is generally 10-20% pricier than its Bangi counterparts, many are opting to purchase homes in Bangi instead. Its rising popularity will eventually see the prices of landed properties in Bangi to increase in the near future.

Aziz Ahmad recommends potential home buyers who have a budget of less RM500,000 and below to scout around for sub-sale properties.

Moving forward, Bangi’s landed property market will remain strong. There are many new townships in the making including Mah Sing’s Southville, Bangi Avenue by Trans Loyal Development Group and UEM Sunrise’s Serene Heights.

Upcoming developments in the area include TESCO at Puteri Mahkota, Water Park at Bangi Avenue and the MRT Kajang Station – all of which will add to Bangi’s appeal.

The total number of transactions for landed properties in Bangi was 172 with an average price per sq ft of RM233.

Aziz Ahmad predicts a solid market performance for non-landed properties in Bangi as there is quite a few high-rise properties coming into the market in the next 2-4 years. 2015 saw many new launches of non-landed residential properties namely in BBB, Southville City, Sg Tangkas and Puteri Mahkota.

According to him, these residential projects were already priced at more than RM300 psf when it was first launched. Many of its buyers’ are property investors who plan to flip said properties.

Once completed, home buyers can expect to purchase them at RM400,000 or less – which is still within an affordable range for many first time home buyers.

The surrounding secondary properties will certainly appreciate in value as well as Bangi gets more developed in the next few years.

Disclaimer: The source of data on brickz.my is from the Valuation and Property Services department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase is paid. 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.

This article was first published in the iProperty.com Malaysia June 2016 Magazine. Get your copy from selected news stands or view the magazine online for free at www.iproperty.com.my/magazine.  Better yet, order a discounted subscription by putting in your details in the form below!

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