A high number of homebuyers who visit iProperty.com.my are looking for a condominium for sale in this suburb. We take a look at the 5-best selling condominiums as well.
Drumroll, please…
And the crown goes to Petaling Jaya! In the past year (May 2017-April 2018), this area garnered the highest number of interest among iProperty.com.my visitors who were looking for a condominium for sale/to purchase in Selangor. At 585,100 property listing *visits, Petaling Jaya (PJ) beat other popular residential areas in the Klang Valley including Puchong, Subang Jaya and Cheras.
In case you are wondering, one of the most famous nasi lemak haunts in Selangor is Village Park Restaurant, situated in Damansara Uptown, PJ.
First developed in 1952 to serve as a sister city to the then-burgeoning capital of Kuala Lumpur, Petaling Jaya has grown by leap and bounds into an economic powerhouse housing some 550,000 people (as of 2015). Divided into several sections, some of the popular neighbourhoods in Petaling Jaya include Taman Jaya, SS2, Seksyen 51A, Kelana Jaya, Mutiara Damansara and Kota Damansara.
PJ’s appeal as a residential address is undisputed, many homebuyers are drawn to its prime location. Many commercial businesses and offices are headquartered in the business districts within Petaling Jaya, particularly Seksyen 14, Bandar Utama, Kota Damansara, Damansara Damai and Ara Damansara. It is also a mere 15km eastwards (from the centre point of Petaling Jaya) to KL Sentral and the city is flanked by other major suburbs; Subang Jaya and Shah Alam to the west, Sungai Buloh to the north, and Bandar Kinrara to the south.
DID YOU KNOW: Petaling Jaya was first developed on a piece of 1,200 acres rubber estate around Old Klang Road to address the overpopulation of Kuala Lumpur in the 1950s – the first phase saw the construction of 800 houses. This area is known today as PJ “Old Town”.
The city offers a plethora of houses across the price board – a quick check on the iProperty.com.my listing page showed that there are numerous sub-sale options in the affordable range, i.e from RM400,000 to RM600,000. These homes’ built-up sizes run the gamut from 300 sq ft to 1,900 sq ft!
Meanwhile, higher-end residential units are mostly located on the north-eastern side of Petaling Jaya, namely Seksyen 16, Bukit Gasing, Damansara Utama and Bandar Utama. The mixture of condos and landed homes here command prices in the range of millions, considering the higher proximity to the city centre and their large built-up sizes.
In fact, PJ bagged the ‘Highest condominium sales in Selangor’ title based on latest data gleaned from iProperty.com.my’s big data solution, iPropertyiQ.com. A total of [1] 311 transactions were recorded between September 2016 and August 2017, where the total sales amounted to RM205.7 million. Coming in second and third were Ampang and Puchong with 270 and 219 transactions, respectively.
Top 5 condominiums (September 2016 – August 2017)
Here we highlight the 5 best-performing condominiums in Petaling Jaya in terms of the number of sales (transaction volume).
1. 1120 Park Avenue
» [2] Median Price: RM450,000
» [3] Capital Growth: -1.2%
» [4] Rental Yield: 3.7%
A leasehold condominium, 1120 Park Avenue is located along Jalan PJS 1/52 in PJS 1. It offers 1,120 units spread out across 5 blocks. With built-up sizes of units ranging from 873 sq ft to 1,193 sq ft and a median pricing of RM450,000, 1120 Park Avenue poses as a very attractive residential option, especially for families. Its location is convenient too – it is situated just off the New Pantai Expressway (E10) while the nearest public transportation link is the Jalan Templer KTM station, located 1.7km away. Completed in December 2013, the building’s facilities include a swimming pool, a multi-purpose hall, playground and a jogging track.
According to recent Google reviews, its residents are pretty satisfied with the condo’s living conditions as well.
READ: What is it like living in Puchong? Here’s your neighbourhood guide
2. Villaria
» Median Price: RM360,000
» Capital Growth: -1.5%
» Rental Yield: 4.0%
Villaria is also a mid-range condominium with a standard built-up of 3 bedrooms and 2 bathrooms, encased within a 987-1,010 sq ft unit (depending on the unit location on each floor). The leasehold development offers 304 units, with 1 car park slot each. Situated along Jalan PJS 2 in PJ Seksyen 2C, Villaria is surrounded by various amenities including banks, eateries and grocery stores – the Tesco Pernama Express Department store is located just opposite the condominium. There is a good number of schools within a 1km radius of PJS 2 too, such as SK Taman Medan, SMK Taman Dato Harun, SK Taman Dato Harun and SRJK (C) Sungai way. Meanwhile, the Seri Setia KTM station is 2km away.
Scheduled to be completed in 2003, Villaria was abandoned when the original developer ran into financial trouble during the 1997 Asian financial crisis. Later taken over by Masteron Sdn Bhd, the residential project was fully completed in March 2016.
3. Park 51 Residency
» Median Price: RM555,000
» Capital Growth: -4.7%
» Rental Yield: 4.1%
Completed in 2016, Park 51 Residency is located in PJ Seksyen 51A. Comprising of 4 residential blocks and 664 condo units, homebuyers have a wide range of built-ups to choose from, ranging from 662 to 2,443 sq ft.
Considering its slightly higher than average median pricing, the condominium offers an extensive list of facilities such as a gym, launderette, convenience shop, swimming pool, sauna, poolside cafe, indoor games room, business function rooms, basketball court, BBQ area and a landscaped garden.
CHECK OUT: 11 properties in Cheras near MRT stations
4. Five Stones
» Median Price: RM1.7 Million
» Capital Growth: 2.3%
» Rental Yield: 3.6%
Five Stones is the outlier from the list of popular condominiums in PJ; this luxury development situated in SS2 caters to the upper market segment. Units are very generously sized, from 1,785 sq ft to 5,183 sq ft. The freehold project is low-density too with 377 units split between 5 blocks, of which Block B and C consist of low-rise villa homes.
Facilities include a 1-acre landscaped garden, a clubhouse Kompan playground, multi-purpose hall, healing gym, dynamic gym, swimming pool, basketball, badminton and futsal courts. Various educational establishments are within easy reach such as KDU University College, Segi College, University Tunku Abdul Rahman, University Malaya, KBU International College, Stamford College and the Yamaha Music School.
A project by Selangor Dredging Berhad Properties Sdn Bhd, Five Stones has 2 unique selling points:
1) the walls between units do not touch each other, this vacuum of sorts provides the residents with the novelty of a landed house experience.
2) The development is earthquake-proof!
» Median Price: RM380,000
» Capital Growth: 5.9%
» Rental Yield: N/A
A 41-year old condominium, Sri Manja is housed in Taman Sri Manja, just opposite the commercial and residential precinct of PJS 3. Unit sizes start from 825 sq ft up too 1,215 sq ft, all of which are encompassed within 6 blocks. The leasehold development provides a few facilities – swimming pool, covered car park, playground as well as tennis and squash courts.
Residents enjoy easy access to 2 major highways, namely the New Pantai Expressway (E10) and KESAS Highway (E5) while the nearest KTM link is Jalan Templer, situated roughly 3km away. Meanwhile, surrounding amenities are plentiful, with clinics, restaurants, banks and minimarkets within easy reach. Also, the Giant Hypermart is only 850 metres away.
[1] These transactions are for secondary properties only. Sales data is captured from the Valuation and Property Services Department (JPPH) and compiled by iProperty.com.my’s big data solution, iPropertyiQ.com. JPPH’s data officially record a property transaction once the stamp duty for the SPA is paid. Hence why the review period ended in August 2017 as the complete JPPH data has not been released yet.
*For detailed explanations on Median Price, Capital Appreciation & Rental Yield, click here.