Damansara Heights’ property values—since the opening of Pavilion 3

• The prime lifestyle hub, along with its premium office and residential segments, has been viewed to further enhance the value of properties in the affluent address. Gleaning from EdgeProp’s EPIQ data, we give you a clearer picture of the figures.  

KUALA LUMPUR (Sept 4): Damansara Heights, one of Kuala Lumpur’s most established and affluent residential enclaves, is well known for its landed homes, which make up 473.16 acres or 90.80% of the area.

Long regarded as one of the city’s most exclusive addresses, the neighbourhood combines tree-lined residential streets with a lively mix of cafes, restaurants, and nightlife spots that attract both residents and visitors. In the evenings, its many dining and entertainment venues give the area a vibrant energy, balancing the quiet, low-density atmosphere of its housing estates with a cosmopolitan lifestyle offering.

The address also carries a certain prestige as a business hub, with commercial towers such as Wisma UOA Damansara, Wisma E&C and Menara Milenium accommodating multinational corporations and professional firms.

Demographically, the area is predominantly occupied by households within the T20 income group (90%), while the M40 and B40 make up 3.7% and 6.3% of the population respectively.

In late 2023, Pavilion Damansara Heights opened its doors here. Also known as Pavilion 3, the integrated development is anchored by a shopping mall under the Pavilion brand, with dining, retail, and leisure facilities; next to premium office and high-end residential components. The prime lifestyle hub has been deemed to further enhance the value of properties in Damansara Heights, which earlier had received a boost from rail connectivity through the MRT2’s commencement in mid-2022.

So, do the numbers reflect this view? We gleaned EdgeProp’s EPIQ data to give you a clearer picture.

Landed homes reaching above RM800 psf

According to EdgeProp EPIQ data, from 2022 to 2024, landed homes here recorded consecutive yearly increases in average transaction prices from RM3.8 million to RM4.3 million to RM5.2 million. However, the average price psf dropped from RM802 in 2022 to RM727 in 2023 before surging again to RM839 in 2024, based on land sizes ranging from 1,582 sq ft for a terrace unit to 11,442 sq ft for a bungalow.

More recently, EdgeProp transactions showed on May 8, a bungalow along Jalan Birah in Damansara Heights was transacted for RM6.6 million, or RM719 psf based on a land area of 9,180 sq ft. Around the same period, a terrace property on Jalan Setiapuspa changed hands at RM1.4 million, or RM884 psf, based on a land area of 1,582 sq ft.

Non-landed continues to command four figures psf

Non-landed residences, consisting of condominiums and apartments, account for only 0.32%  (21.58 acres) of the Damansara Heights area. In this segment, average transacted values eased steadily downwards from RM3.7 million in 2022 to RM3.5 million in 2023, to RM3.2 million in 2024. However, the average price psf remained steady, commanding a four-figure value of RM1,400 throughout the three-year period, with built-ups ranging from 1,023 to 4,510 sq ft in 2024.

On the development front, EPIQ shows four residential projects are in the pipeline, with two currently under construction, and the remaining two, spanning 12.64 acres, at the proposal stage. Notably, they are all non-landed developments.

The upcoming ones are: first, The Peak by Eastern & Oriental Bhd—a low-rise luxury condominium comprising 54 units on 3.9 acres of landscaped grounds, scheduled for completion in the fourth quarter of this year; and second, The Cedar by Satin Magic Sdn Bhd, a low-density residence featuring a single 18-storey block with 70 units, comprising spacious apartments and penthouses. Situated on a 4.2-acre freehold site, the project is being developed by Satin Magic Sdn Bhd. 

Strong commercial values

Meanwhile, in the commercial segment—average transacted prices rose sharply from RM1.5 million in 2022 to RM24 million in 2023, before moderating RM8.3 million in 2024. The average price psf charted a similar pattern, but in lesser degrees, where it leapt from RM1,300 in 2022 to RM2,200 in 2023, before easing to RM1,900 in 2024.

The surge in 2023 was largely attributed to a RM73 million transaction of an office lot on Jalan Medan Setia, with a land size of 33,939 sq ft and priced at RM2,150.92 psf.

Meanwhile, phase 2 of Pavilion Damansara Heights is underway, which will see the construction of an additional seven-storey retail podium, corporate tower, and two more residential towers with built-ups of 452–4,090 sq ft. These forthcoming lifestyle venues are anticipated to further enrich the district’s well-established social infrastructure, catering to the needs of both affluent residents and weekday professionals. 

Bolstered by ready amenities and accessibility

Besides Pavillion Damansara Heights, the area is also anchored by Damansara City Mall, which provides an array of amenities along with access to banks, cafes and various lifestyle facilities, most of which are located within a 10-minute drive from the neighbourhoods. Within a 1.5km radius from the borders of Damansara Heights, the area is also experiencing a notable influx of curated F&B establishments such as Jake's Charbroil Steaks, Victoria Station Restaurant, and Starbucks.

Damansara Heights also benefits from strong connectivity through the MRT Kajang Line or MRT2, served by the Semantan and Pusat Bandar Damansara stations, with the latter directly linked by a pedestrian pathway to Pavilion Damansara Heights. Combined with its proximity to major highways such as the SPRINT Expressway, the neighbourhood enjoys both accessibility and a central location within the Klang Valley.

EPIQ also indicates that within a 1.5km radius from the borders of Damansara Heights, there will be stations under the planned MRT3 line such as Bukit Kiara (provisional) and Bukit Kiara South located within 10-minute drives.  

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.