Residential market may see single-digit rise in transaction volume and value
Henry Butcher Malaysia expects the residential property market in Kuala Lumpur and Selangor
This week, we take a look at Kuala
Lumpur's Mont'Kiara suburb
Prices for non-landed properties in the area rose slightly
faster than the Kuala Lumpur average for the 12 months to 3Q2014.
Based on theedgeproperty.com's analysis of transactions
completed in that period, average prices rose 7.8% y-y from RM635 per square
foot (psf) to RM685 psf. This was above the increase of 7.0% for Kuala Lumpur,
according to Napic statistics, and follows an 8.3% y-y growth in 2013.
Prices in Mont'Kiara appear to be picking up momentum
following a slower growth in preceding years, with the earlier large supply now
digested by the market and limited new projects due to scarcity of land.Â
New projects are mostly located in the neighbouring Dutamas and Segambut areas.
Total transactions for the 12 months to 3Q2014, however,
fell 24.8% from 955 to 718 units.
The Analytics
are based on the data available at the date of publication and may be subject
to further revision as and when more data is made available to us.
