Old Klang Road

Old Klang Road

Starting from Mid Valley Megamall, it stretches all the way down to Kampung Medan connecting Seputeh, Taman Desa, Taman Shanghai, Taman Lian Hoe, Kuchai Lama, Oversea United Garden (OUG), Taman Nam Fong, Puchong, Taman Petaling Utama, Taman Sri Sentosa, Taman Sri Manja and many other schemes towards Petaling Jaya and Kuala Lumpur. Till today, the road remained as one of the major roads with high traffic flow, even though it has been widened, it struggles to accommodate the traffic demand. Along the OKR are mainly commercial undertakings with a few residential developments, ranging from shops, car reselling centres and petrol stations to malls, commercial centres, condominiums and apartments.

Connecting to OKR are two major highways within Klang Valley known as the Federal Highway and New Pantai Expressway (NPE), acting as the joint point of Kuala Lumpur and Petaling Jaya. Public transport in terms of buses and taxis are sufficient, in fact, more regular than many another areas within Klang Valley. KTM commuter services to the Mid Valley Megamall are available and the KL Sentral is also only 2 stations away. Sources revealed that the KL Monorail line extension towards Taman Gembira has been proposed and recently resurfaced with a further link down south towards Bandar Sunway. Upon realization of said extension, travelling from Old Klang Road to Kuala Lumpur city centre or Bandar Sunway will be much easier and convenient.

On-going projects noted along Old Klang Road are as follows:-

Landed

Strata

From the analysis, dwellings along and around OKR is generally still in an increasing trend, although there is some inconsistency seen especially among the landed houses. Semi-detached houses ranged from RM2.1 million to RM3.4 million in 2015 and terraced houses ranged from RM490,000 to RM1.5 million, showing a decreasing trend since 2012. In 2015 (as of October 2015), a mere 22 transactions were recorded among the analysed schemes. The high rise dwellings face the same situation whereby the recorded average transaction prices is in an increasing trend, with an analysed average price psf of RM463 in 2015, showing a sharp rise between 2012 to 2013, followed by a consistent pace towards 2015. Transaction activity in 2013 recorded an all-time high as well, with the a total transaction of 671 units as compared to 2015 where merely 130 units were recorded.

It is noted that serviced apartments is the main development component in the on-going and coming developments along the OKR, from 192 units development to 1,798 units integrated development, priced from about RM550 psf up to RM800 psf and above. Most of these developments are currently under construction and are estimated to be completed within the coming 3 to 4 years, thus increasing the supply of higher-end residences along OKR.

Old Klang Road has always been a busy road as many working professionals traverse it for their daily commute to work. Buses and taxis are essential, with the planning for development of public transportation system underway, it will provide more convenience to commuters and residents. Looking at the limited land available, redevelopment is the current trend along the road, old properties are being taken down or refurbished into modern and well-designed premises, which only goes to show that OKR is a most sought after locality.

Source: Oregeon Property Consultancy Research Team
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