Is Desa ParkCity a prime location to buy a house?

Desa ParkCity continues to gain strong demand as a sought-after location among property enthusiasts for many reasons. Let’s take a look at how this neighbourhood enjoys steady growth and positive appreciation during the last few years and hear what experts from the property market have to say.

Desa ParkCity is developed by ParkCity Group, a unit of Miri-based Samling Group. They acquired the 473-acre tract of barren granite quarry site in 1999. The area’s rocky nature was a challenge to the developer, and it incurred much work and capital outlay to have it ready for development. Despite the challenges, this sought-after township is seeing steady growth and positive appreciation in the last few years. Here’s what industry experts have to say.

Desa ParkCity introduced the first gated-and-guarded strata landed homes in Kepong, with complete amenities for residents, including an international school, medical centre, club house, places of worship, recreational parks, sports centre, offices, commercial hubs, and residential projects.

This thriving neighbourhood has drawn growing crowds, and one of its most alluring features is the pet-friendly 13.9-acre Central Park. It has tree-lined jogging tracks and walking pathways surrounding a 6.34-acre recreational lake. Aside Central Park, there are 2 other landscaped parks within the township – East Park and West Park – which are dog-free zones.

What do area experts say about Desa ParkCity?

Managing Director of Cornerstone Xstate Sdn Bhd, Wong Yau Long, highlighted that there is still substantially strong demand from Desa ParkCity enthusiasts and other interest groups. Considering the low-density environment and its scarcity, Desa ParkCity has become one of the most sought-after locations for middle-class and affluent residents.

“Both landed and high rise properties are still high in demand, even during the pandemic, as all properties in Desa ParkCity come with great facilities, infrastructure, security and amenities surrounding the area,” Yau Long said.

The residential offerings within the various gated and guarded precincts in Desa ParkCity include courtyard terraces, park homes, terraced houses, condominiums, semi-detached homes, and bungalows.

Knight Frank Malaysia’s Executive Director for Research & Consultancy, Amy Wong shared, “Properties that have performed well are The Waterfront (retail), and Park Place and Park Regent (residential).

“The Waterfront achieved over 90% occupancy rate (NLA 124,471 sq ft), housing a range of F&B, grocery stores, beauty services, houseware, and so on. It has direct access to the Central Park, which attracts many visitors to dine at The Waterfront due to the ambience and view.

“Park Place is located between the Central Park and upcoming Town Square Park. It was launched in September 2020 and achieved a take-up rate of 86% during its priority sales event. Built-up ranges from 1,109 sq ft to 4,047 sq ft (penthouse). For Park Regent, it was launched in 2019, and achieved a sales take-up rate of 80% during its priority sales event. The built-up is from 872 sq ft to 4,887 sq ft.

“Majority are local buyers, with international interest from South Korea, Finland, the United Kingdom, Australia, and Hong Kong. The project is situated next to the Central Park and Central Lake, which is one of the main pull factors of the project,” Amy shared.

How’s the property market performance in Desa ParkCity?

Yau Long opined, “The property value in Desa ParkCity continues to rise despite the pandemic. From an investment point of view, Desa ParkCity is viable and a profitable source of income. From the homeowner’s point of view, it’s safe to say that Desa ParkCity is the most liveable township in the country.

“It’s visible that Desa ParkCity has emerged as a strong alternative to Mont Kiara and has attracted tenants who previously resided in Mont Kiara as every addition and improvement made in the township itself is to promote the community’s health, happiness and well-being.

“In view of that, there is a phenomenon where demand is higher than supply in Desa ParkCity, especially the landed properties were in the last 6 months there has been an increase in the overall sales price by 20%, and there’s very limited inventory available to be offered to clients. With the demand for condos also starting to emerge post-pandemic, we saw a gradual improvement in condo prices as the rental market has started to pick up.”

Amy pointed out that there’s a slight decline in the number of transactions in both high-rise and landed residences in Desa ParkCity during the pandemic years of 2020 to 2021, as compared to pre-pandemic years of 2018 to 2019.

“This could be due to a couple of reasons. There’s the overall economic uncertainty and job instability which affected buying and selling decisions. Also, it could be because existing owners were not putting their units up for sale,” Amy said.

Amy shared that the Central Park, adjacent to The Waterfront retail centre, will continue to record promising transactions and rental growth and attract the attention of many due to the ambience. It is “a place for all” and the facilities and amenities within the township will continue to be an advantage to attract owner-occupiers and investors.

“With about 1,042 units in the development pipeline, and the overwhelming sales take-up of over 80% during the priority sales event, they indicate the demand for properties in Desa Park City. The population is expected to increase upon completion of Park Place and Park Regent.

“Overall, given such a liveable community and environment, the township will continue to attract working adults, young families and individuals, growing families, as well as expats and foreigners who want to make Malaysia their home to reside at Desa ParkCity,” Amy said.

Desa ParkCity area performance comparison vs other townships

Amy shed some insight into key performance comparisons among highly desired areas and listed down what makes these townships stand out from each other.

• Desa ParkCity – Offers an enviable lifestyle in a well-located and well-served neighbourhood away from the city.
• Damansara Heights – One of the most expensive addresses in Malaysia, but the high-rise residences in the secondary market are typically older schemes.
• Mont Kiara – Hotspot for expats and high-end income earners; lifestyle is a mix of “shop, work and socialise”, which attracts working adults and single individuals.
• Kota Damansara – Highest rental yield, possibly due to its establishment as a self-sustaining township, availability of MRT Kota Damansara station and proximity to a few MRT stations.

Selected Area	High-rise Average Transacted Price (psf) in 2017	High-rise Average Transacted Price (psf) in 2022	Compound Annual Growth Rate	Average Rental Yield
Desa ParkCity	RM787	RM858	2.20%	3.80%
KLCC	RM1,123	RM1,008	-2.70%	3.20%
Mont Kiara	RM804	RM725	-2.50%	4.60%
Damansara Heights	RM1,100	RM1,146	1.40%	3.60%
Kota Damansara	RM676	RM574	-4.00%	5.00%

Is Desa ParkCity a good investment?  

Desa ParkCity has proven to be popular with both Malaysians and expatriates. Its ongoing appeal is reflected in the prices, which have been trending upwards. It is a thriving neighbourhood with a population of approximately 16,500 residents. More than 4,000 homes, and 520 commercial parcels in Plaza Arkadia, have been sold thus far. Once completed, the township will have about 7,500 homes and an estimated population of 30,000. 

The residential properties are considered to be one of the most expensive in Klang Valley, And as reported in a news publication in 2020, the area has registered compounded capital appreciation of about 100% to 150% or more since 2002.

Yau Long shared, “Properties in Desa ParkCity generally enjoy steady growth and positive appreciation during the last five years, with an average appreciation rate of 7% to 10%. Current observations also suggest an upwards trend with a continual stream of projects still to come in the pipeline.”

According to data from iProperty.com.my, the median transacted price of residential properties in Desa ParkCity from October 2020 to September 2021 is RM2,015,000 up 29.58% y-o-y, at RM1,095 per sq ft.

Prices of high-rise residential properties in Desa ParkCity

Project	Average Launch Price	Average Transacted Price	Estimated Rental Yield
The Northshore Gardens (launched in 2008)	RM480,000 (about RM575 psf)	RM1,350,000 (RM891 psf)	4%
The Westside One (launched in June 2010)	RM500,000 (about RM600 psf)	RM1,215,000 (RM767 psf)	3.5%
The Breezeway Garden (launched in 2011)	RM700,000 (about RM720 psf)	RM1,552,500 (RM933 psf)	3.5%
The Westside II (launched in May 2012)	RM550,000 (about RM650 psf)	RM1,030,000 (RM736 psf)	5%
One Central Park (launched in Sept 2013)	RM850,000 (about RM825 psf)	RM1,375,000 (RM1,035 psf)	4.5%
Westside III (launched in June 2015)	RM780,000 (about RM780 psf)	RM1,280,000 (RM918 psf)	4%
South Brooks (launched in Aug 2017)	RM720,000 (about RM700 psf)	Completed: Q3 2021	N/A
Park Regent (launched in July 2019)	RM1,050,000 (about RM1,100 psf)	Expected completion: 2023	N/A
Park Place (launched in Sept 2020)	RM1,550,000 (about RM860 psf)	Expected completion: 2024	N/A

How is Desa ParkCity’s rental market?

The rental market in Desa ParkCity is active from pre- to post-pandemic, with positive growth compared to pre-pandemic times. Amy opines, “The implementation of the Movement Control Order (MCO), travel restrictions and work-from-home (WFH), has changed many buyers’ and owners’ perception to reside in a more conducive and liveable community.

“According to the rental evidence recorded by Valuation and Property Services Department (JPPH) from 2017 to 2020, the tenant profile has a balanced mix of locals and expatriates. International buyers and tenants prefer to reside at Desa ParkCity for its green and low-density environment as compared to other expatriate hotspots such as KLCC, Mont Kiara and Bangsar, which are crowded and busier.”

Current asking rent for residential projects in Desa ParkCity

• High-rise – From RM3,000 to RM4,500 per month for 2+1 and 3 bedrooms
• Landed – From RM4,500 to RM7,000 per month for 3, 3+1 and 4 bedrooms

Source: Knight Frank Malaysia

Yau Long concurred, “The residential rental yield is noticeably more resilient than a lot of other areas such as Mont Kiara and KL City Centre where the annual rental return for entry-level property in Desa ParkCity is about 3% to 6% per annum. Although rental yield often varies with projects, the overall appreciation rate is strong. Condominium projects generally enjoy much higher rental yields compared to landed property.”

Common questions about Desa ParkCity

Is Desa ParkCity a strategic address?

Desa ParkCity is situated next to the border of Petaling Jaya, and well within KL West, where upper-middle suburbs such as Hartamas, Mont Kiara and Damansara are also located. As for townships, Desa ParkCity is neighbours with Bandar Menjalara, Kepong, Segambut, Mont Kiara and Bandar Sri Damansara.

Major highways such as Damansara-Puchong Expressway (LDP), Middle Ring Road 2 (MRR2), SPRINT Highway, Penchala Link, New Klang Valley Expressway (NKVE), and elevated Duta-Ulu Klang Expressway (DUKE) connect Desa ParkCity to all key locations in the city and its surroundings.

Knight Frank Malaysia’s Executive Director for Research & Consultancy, Amy Wong, shared, “The network of expressways and highways attract owner-occupiers, especially those with families and looking for property outside of KL, due to the high housing price in the city centre.”  

How to get to Desa ParkCity by road?

Location	Distance	Route
Bangsar	16km	LDP SPRINT Highway
Mont Kiara	11km	LDP SPRINT Highway Penchala Link
Kuala Lumpur City Centre	18km	DUKE Duta Expressway
Hartamas	10km	LDP Penchala Link
Damansara Heights	13km	LDP Penchala Link

How to get to Desa ParkCity by MRT?

Phase 1 of the Mass Rapid Transit Line 2 (Putrajaya Line) began operations in June 2022. The nearest station to Desa ParkCity is Sri Damansara Sentral, which is about 5km away. Once all phases have been launched, accessibility for residents is expected to be further enhanced.

Is Desa ParkCity an award-winning freehold township?

The project was launched in 2002 and today, after two decades, the self-contained Desa ParkCity is often touted as one of Kuala Lumpur’s most liveable townships. A testament to this is the multiple international and local accolades that Desa ParkCIty has won, including Masterplan Development of the Year and Residential Development of the Year – Park Regent at the Real Estate Asia (REA) Awards 2021, FIABCI World Prix d’Excellence Award 2020 (Gold) for Plaza Arkadia, and the FIABCI World Prix d’Excellence Award 2019 (Gold) for its Master Plan, among others.

Most recently, Desa ParkCity was chosen as one of the 13 regional winners of the 2022 Urban Land Institute Asia Pacific (ULI APAC) Awards for Excellence, widely recognised as one of the region’s most prestigious awards in the development community.

What are Desa ParkCity’s key features?

• Streetscape and landscapes
• Dog-friendly Central Park
• Lepironia reed forming a natural safety barrier around the lake
• Mini roundabouts that eliminate the need for traffic lights
• Canopy of trees
• On-site nursery and organic waste compost centre
• Back lanes transformed into linear parks

As for shopping and dining options, there are 2 retail hubs – The Waterfront, an iconic retail entertainment centre, and Plaza Arkadia, a British colonial-style architecture that houses offices, SOHOs, restaurants, coffee bars, and a supermarket.

Amy also shared that two upcoming retail malls could lead to growth surrounding Desa ParkCity. They are:

• Empire City Mall, Damansara – 6km away, NLA 1.7 million sq ft, target completion by end of 2023
• D’immersione Avenue, Mont Kiara – 8km away, new street mall, target completion 2023

What amenities does Desa ParkCity have?

• Plaza Arkadia Shopping Mall
• Village Grocer @ Plaza Arkadia
• The Waterfront @ ParkCity
• AEON MaxValu Prime @ The Waterfront
• The Central Park
• The Sports Centre
• Eateries, restaurants, cafes
• Banks
• Sports centre
• Fitness centres
• Convenience stores
• Toy store
• Medical clinics
• ParkCity Medical Centre
• Traditional Chinese Medicine (TCM) shops
• Hair salon
• Florist
• Pharmacies
• Pet store
• Clothing stores
• Health and beauty shops
• Jewellery store
• Art studio
• Bicycle store
• The East Park
• Bukit Sri Bintang Peak 2
• The ParkCity Club
• Dog training ground

What are the healthcare options in Desa ParkCity?

• ParkCity Medical Centre
• General clinics
• Dental clinics
• Veterinary clinics

What are the education options in Desa ParkCity?

• The International School @ ParkCity
• Kolej Tingkatan Enam Desa Mahkota
• SJK (C) Kepong 3 ParkCity
• International Village of Early Years (IVEY)
• Prodigy Learning Centre
• Learning Buddy Education Center
• A PRO Education Centre
• Reed Education
• HJ Education
• Inspire Secondary Education
• V.I.P. Education Group
• Dixon English Language Centre

Tips for purchasers when considering a residential property in Desa ParkCity

• Based on transactions, condominiums in Desa ParkCity have performed well; up 16.43% y-o-y.
• The rental yield for residential properties in Desa ParkCity is better than in areas such as Mont Kiara and KL city centre (KLCC). The gross rental yield ranges from 3% to 6%.    
• One Central Park, The Breezeway condo, and Park Regent are closer to the Central Park. Thus, the price per sq ft of units there is higher.
• The developer will be launching Noora @ Desa ParkCity, sometime in Q3 of 2022. Be sure to register with the developer to stay in the loop.

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