KUALA LUMPUR: Despite two phases of the movement control order last year, the volume of residential transactions in Selangor only declined by 2.2% compared with 2020.
Nevertheless, median transacted prices in the state increased by 17% from RM380,000 to RM450,000, likely driven by the purchase of more expensive properties.
Here are the top five most transacted residential areas in Malaysia’s wealthiest state.
Puchong has edged out Klang to become Selangor’s most transacted area in 2021, with an increase of 27.5% last year compared with the year before. The self-sustained township remains in high demand despite congestion woes and its many toll booths.
A major catalyst was the extension of the Ampang LRT to serve the township’s dense neighbourhoods.
As many as seven stations run through the township, namely BK5 (Kinrara), IOI Puchong Jaya, Pusat Bandar Puchong, Taman Perindustrian Puchong, Bandar Puteri Puchong, Puchong Perdana, and Puchong Prima.
Median transacted prices were the highest at RM650,000 – an 18.4% increase from the previous year, which saw median prices at RM549,000.
In the past, Klang would consistently rank the most transacted area in the state, as it was in 2020. Last year, however, saw transaction volume drop by 4%, leading the city to claim the second spot.
Klang and Shah Alam were the only two areas in the top five to record a negative change in transaction volume for 2021.
Median transacted prices, nevertheless, increased by 14.86% to RM425,000 last year from RM370,000 the year before.
Population density might be a driver behind the high property transactions in the city – Klang is among the oldest and most largely populated cities in the country.
The completion of the LRT 3 in 2024 is expected to further boost accessibility and complement the existing KTM rail network.
Some neighbourhoods in Klang experienced floods for the first time at the tail end of last year, but its impact on property transactions, if any, would only be measured in this year’s transaction data.
The bustling mature township of Kajang is the starting point for the MRT Sungai Buloh line and hosts four stations within its borders.
The Kajang KTM serves as the principal railway station within 1km from the centre of town. It also acts as an interchange station between the MRT, the KTM Seremban Line, and KTM ETS.
Median transacted prices in Kajang grew by 22.8% from RM350,000 in 2020 to RM430,000 last year.
Transaction volumes recorded the biggest change among the five areas with a 28.1% increase.
Being a suburb of both Kuala Lumpur and the Hulu Langat district, Cheras was also the most transacted area in KL.
Owing to excellent connectivity and amenities, the mature suburb has seen a host of new developments pop up.
Selangor’s portion of Cheras saw median prices rise from RM400,000 to RM500,000, while the volume of transactions grew by 24%.
5. Shah Alam
Selangor’s capital city fell to fifth place in 2021 with a median transacted price of RM600,000, having grown 15.47% from RM519,600 previously. However, transaction volume declined by 25.8% compared with 2020.
Shah Alam’s booming townships such as Setia Alam, Puncak Alam, and Kota Kemuning continue to draw interest in the primary and secondary markets.
As with Klang, any impact of last year’s floods on property transactions in Shah Alam’s central areas should only be visible in 2022’s transaction patterns.
This article was written by Vigneswar Rajasurian of PropertyAdvisor.my, Malaysia’s most comprehensive source of property data, property analytics and insights.