The residential property market in perspective – Demand in Urban Centres in The Peninsular

Klang Valley

The Klang Valley real-estate sector is mainly dominated by demand for terrace houses, being the most transacted residential property at 31.6%. This is followed by condominiums at 22%, flats at 17.1%, apartments at 14.7% and serviced residences at 7.6%. Other smaller segments include semi-detached homes at 2.9%, bungalows at 2.2%, townhouses at 1.3% and cluster homes at 0.6%.

Topping the list for buildings with the highest searches in the Klang Valley are condominiums and serviced residences at 26.6% while terrace, link and townhouses record 14.2% of searches. This is followed by apartments and flats at 7.5% while semi-detached and bungalow houses stand at 5.6%. Residential land poses the least searched properties at 0.8%.

The locality with the most transactions for terrace homes is Klang at 1,500 transactions, while Mont Kiara demonstrates the highest transactions for condominiums at 428 transactions over the last 12 months.

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Median prices for homes ranging from 1,501 to 2,000 sq ft stand at RM540,000 in Klang, RM854,000 in Subang Jaya, RM720,000 in Cheras, RM915,000 in Kota Damansara, RM1.5mil in Taman Tun Dr Ismail, RM1.7mil in Desa ParkCity and RM1.8mil in Bangsar

The transacted median prices for condominiums ranging from 1,001 sq ft to 1,250 sq ft include RM420,000 to RM450,000 in Puchong, Old Klang Road, Shah Alam, Sri Petaling, Cheras and Seri Kembangan, while those on the higher range between RM500,000 and RM1 million include areas such as Bukit Jalil, Subang Jaya, Ara Damansara, Petaling Jaya, Dutamas, Mont Kiara, TTDI, Desa Parkcity and Bangsar, among others.

A total of 90% of buyers have purchased terrace houses below 2,000 sq ft in the Klang Valley, with 70% of buyers making purchases of terrace homes below RM700,000. Meanwhile in the condominium segment, 85% purchased units less than 2,000 sq ft, while 70% purchased units below RM750,000.

Penang

In Penang, the most transacted properties are terrace houses and flats at 30.5% and 28.3% respectively. Condominiums transacted at 14.9% and apartments at 14.2%, while other smaller segments such as semi-detached, bungalows, cluster homes, townhouses and serviced residences transacted between 7.1% and 0.5%. The most transacted area for terrace houses is at Bukit Mertajam at 521 units and condominiums at Sungai Ara at 189 units over the last 12 months.

Properties with the highest search include condominiums and serviced residences at 20.1%, terrace, link and townhouses at 16.0% as well as semi-detached and bungalow units at 9.7%. Meanwhile, apartments and residential land transacted at 8.5% and 1.3% respectively. The localities with the highest search include Bukit Mertajam and Tanjung Tokong.

The transacted median prices for terrace units ranging from 1,501 sq ft to 2,000 sq ft in Penang include Nibong Tebal, Sungai Jawi, Sungai Bakap, Tasek Gelugor at prices between RM200,000 and RM400,000, while units with prices ranging from RM500,000 and above are located in Bayan Baru, Sungai Ara, Balik Pulau, Jelutong, Butterworth and Gelugor.

Meanwhile, the median prices for condos ranging from 1,001 sq ft and 1,250 sq ft include RM400,000 to RM600,000 located at Bukit Mertajam, Bayan Baru, Sungai Ara, Air Itam and Batu Ferringhi, while condos ranging from RM600,000 onwards are located in Bayan Lepas, Gelugor, Jelutong, Tanjung Bungah and Tanjung Tokong.

Johor

In Johor, the highest transacted properties include terrace houses at 70.9%, followed by apartments at 9.0%, semi-detached units at 6.8% and other smaller segments such as flats, bungalows, serviced residences, condominiums, cluster homes and townhouses ranging between 3.6% and 0.5%. The most transacted locality for terrace houses is at Skudai with1,000 units and apartments at Johor Bahru at 339 units over the last 12 months. The properties that showed the highest searches included terrace, link and townhouses at 26.2%, semi-detached/ bungalows at 10.7%, condominiums and serviced residences at 10.4% and apartments at 8.2%. Residential land is only at 1.4%. The areas that appeared most in searches include Johor Bahru for terrace houses.

The transacted median prices for terrace houses with sizes ranging from 751 to 1,000 sq ft in the price range of RM200,00 and RM350,000 are located in Pontian, Pasir Gudang, Skudai, Batu Pahat and Muar, while those ranging in prices from RM350,000 and above are located in Iskandar Puteri, Tebrau and Johor Bahru.

DISCLAIMER: The source of Sale data is from the Valuation and Property Services Department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase Agreement is paid while the source of rent data is from agents’ listings listed at iProperty.com. 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.

 

 

 

 

 

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