Why property buyers should really be looking at Setapak.

The population in Setapak has increased tremendously in recent years, but does it mean that the real estate market in Setapak still has a steady pulse?

In the gradual boom of neighbourhoods in and around the KL city centre, one would argue that Setapak has been quietly biding its time, growing steadily but perhaps a little under the radar. The township is located just 8km from the heart of KL city, and it is steep in rich history, dating back to the early 20^th century.

The township grew in prominence back in the late 19^th century because of its proximity to the Klang River and the foothills of the Titiwangsa range, making it a hotbed of tin-mining activity back then. The township first grew from families of miners who were working there before infrastructures such as roads, schools and markets were developed to serve the growing community.

What has led to the growth of Setapak over the years?

Like many townships in and around the city centre, such as Cheras, Ampang and Kajang, Setapak underwent a boom in growth in the mid-20^th century when demand for housing in and around the KL city centre increased, and the township started filling out with residential developments to accommodate the growing need.

Setapak became one of the more popular choices for middle-class families seeking affordable housing options close to the city centre.

The population makeup of Setapak today covers a wide range – from long-staying families to middle-income groups, blue-collared workers and most notably, students. This is because, over the years, Setapak has evolved into a township that houses reputable educational institutions such as Tunku Abdul Rahman University of Management & Technology (TAR UMT) and VTAR Institute.

Factors that affect demand in Setapak

Like all townships that are situated in and around the KL city centre, there will always be an inherent attractiveness about living and investing in a mature neighbourhood like Setapak. These neighbourhoods tend to have good amenities and lifestyle options. This is certainly the case with Setapak.

Many of the most sought-after jobs are also located around the city centre, this means that demand for rental will be decent because there will be people looking to live not too far away from where they work. So if you can secure an affordable property to either live in or as an investment in Setapak, why wouldn’t you go for it?

Does Setapak offer affordable property investment?

The chart below shows the median price ps ft of transacted property in the past 5 years for residential non-landed property <= 1000 sqft.

Median price psf of Non-Landed Residential Property

Year of transaction	Apartment	Condo	Service Residence
2018-Q1	327.25	311.76	442.42
2018-Q2	332.2	294.9	478.96
2018-Q3	332.72	294.12	477
2018-Q4	285.71	317.35	472.94
2019-Q1	411.63	281.57	512.56
2019-Q2	424.6	263.72	558.19
2019-Q3	354.64	311.72	604.51
2019-Q4	296.8	269.3	538.3
2020-Q1	321.1	314.9	486.94
2020-Q2	334.86	328.43	556.62
2020-Q3	314.3	304.54	536
2020-Q4	325.67	296.7	598.42
2021-Q1	357.14	306.1	517.15
2021-Q2	313	319.53	543.28
2021-Q3	321.2	299.21	541.8
2021-Q4	346.9	300	453.32
2022-Q1	332.87	320.51	569.15
2022-Q2	365.3	343.82	469.26
2022-Q3	357.14	352.94	532.85
2022-Q4	332.97	372.78	569.1

As you can see from the chart, with median price ranges for Apartment and Condo mostly hitting below the RM400,000 mark and media price range for Serviced Residences hovering mostly below the RM600,000 mark, you could say there is still plenty of value to be had from properties in the Setapak township.

The other thing to take note of is that prices have been relatively steady in the last 2-3 years despite all the global uncertainties.

Interested to buy into the Setapak township? We may have just the development for you – J.Satine.

J.Satine SOHO, Apartment and Retail is a mixed development by Gandingan Jakel catering for the general market. It is designed in line with government initiatives in addressing the need for more affordable housing.

J.Satine is a high-rise development that consists of two different types of development. Firstly, there are the Residensi Wilayah apartments, which are affordable housing priced at RM300,000. There are a total of 3,600 units located in 4 blocks. Buyers for these units are required to fulfil certain criteria through an application to the relevant authorities. They can only purchase these units once they obtain approval on their application.

The second type of development consists of 661 SOHO units located on a single block, perfect for young working professionals or even small families. Developed over a 0.92-acre site, these exclusive SOHO residential units have a built-up size ranging from 546 – 966 sq ft with prices starting from RM328,000, complete with necessary fittings and furnishing.

Given the price range, J.Satine is a very affordable option to buy yourself into this budding and growing township.

J.Satine is strategically located within an established neighbourhood and sits around other mature neighbourhoods such as Wangsa Maju, Gombak and KL city centre. It also boasts excellent connectivity with access to major highways such as Middle Ring Road 2 (MRR2), Duta Ulu-Kelang Expressway (DUKE) as well as the new Sungai Besi-Ulu Kelang Elevated Expressway (SUKE). To top it all, the development is situated within LRT Wangsa Maju, LRT Sri Rampai and LRT Taman Melati’s proximity, which are all less than 3 km away. It is also close to many lifestyle options, such as Giant Hypermarket, Setapak Center Mall and NSK Wangsa Maju, which are accessible within walking distance.

Want to know more about J.Satine? Visit www.gandinganjakel.com to find out more.