Prices on the secondary market here are strong, mirroring that of adjoining Kota Damansara. A major catalyst is the Tropicana Gardens project, which includes an MRT station and a mall, where residences were launched at over RM1,000 per square foot (psf).
Mah Sing Group Bhd has revised its sales target for the year to RM2.3 billion from RM3.4 billion and has also scaled back its launches to RM2 billion from RMM3.4 billion amid a softer market.
In the review period, transactions of non-landed residences in the secondary market have yet to breach the RM1,000 psf level, although this will likely change once Tropicana Gardens is completed, as primary prices there have exceeded that threshold.
Based on theedgeproperty.com’s analysis of transactions in the 12 months to 3Q2014, the average transacted price per square foot (psf) was RM539 in 3Q2014, while the average transacted price per unit was RM661,000.
The Tropicana address has long been associated with exclusivity. Most homes there are luxury bungalows, but new developments are mostly condominiums as land is now scarce and expensive.
The Manor will have 212 condominium units with a built-up area of between 2,426 and 7,356 sq ft. Prices start at RM1,100 psf.
Meet us at 8am tomorrow at Southville City @ KL South, Bangi, to watch the last leg of what may well be Malaysia’s biggest property competition.
In less than 24 hours, 21 finalists will meet at the grand finale of The Edge-Mah Sing Millionaire Contest!
The group is also concentrating on its mixed-use development of SA65 Taman Perdana Development in Simpang Ampang, Penang.
Rental yields in Kota Damansara are fairly decent, especially in two key markets – the lower end market and those that cater to the student population or are near amenities. Most projects provide an annual yield of above 4%, with monthly asking rent of RM1.50 to RM1.70 psf.
The only property app you need. More than 200,000
sale/rent listings and daily property news.
