Shah Alam bungalow land prices have increased from around RM60 per sq ft to RM110 per sq ft
Hot spots in Shah Alam include the Jalan Batu Arang corridor in Shah Alam with various new developments such as Bukit Bayu, Kayangan Heights, Sunway Alam Suria, Bandar Nusa Rhu, Greenfield, Saujana Utama and Taman Seri Pristana, reveals Reapfield Shah Alam principal Norashikin Kamarudin, who was interviewed in conjunction with the upcoming Malaysian Secondary Property Exhibition (Maspex) 2013.
Central Shah Alam such as Section 7, 9 and 13 are also very much in demand and already facing a limited supply of houses for sale, says the head of this agency which focuses on sale and rental of residential properties.
“Ninety percent of our deals are bungalows, semi-detached, bungalow lands, link houses, apartments and condominiums. However, we do deal with commercial shop houses, office space, factories and land.”
Another property type much in demand is bungalow land and prices have increased. In 2011, it was around RM60 per sq ft but now it is more than RM110 per sq ft.
Freehold townships such as Alam Impian, Bukit Jelutong and Denai Alam, meanwhile, have seen good capital appreciation and will continue to be in demand.
“The residential market segment of below RM1mil has shown itself to be resilient and unaffected by market sentiments. Buyers in this segment are made up of first-time buyers, small investors and young couples upgrading from small apartments to two-storey links or semi-detached houses. Most of the purchases in this segment are based on need rather than a desire to make money through speculative investments,” she adds.
Maspex 2013 will be held over the weekend of April 12 to 14, at the concourse of Tropicana City Mall, PJ. Organised by the Malaysian Institute of Estate Agents (MIEA), it will feature booths by 32 real estate agencies with photos and presentations of previously owned properties for sale.