iProperty discloses properties that gained in value in 2020

Eight high-rise residential properties gained in value despite the negative impact of the Covid-19 pandemic

by NURUL SUHAIDI / Pic Source: uemsunrise.com

IPROPERTY.COM.MY stated eight high-rise residential properties gain in value in 2020 based on favourable demand and area density and despite the negative impact of the Covid-19 pandemic on the economy.

According to the proptech platform, Residensi 22 in Mont Kiara, Kuala Lumpur (KL) experienced capital growth of 7.28% based on date from 11 transactions. Mont Kiara is known for its high expatriate population in Kuala Lumpur.

Seringin Residences, a freehold condominium consisting of 542 units within two 24-storey residential towers in Happy Garden, Old Klang Road, KL, ranked second with a capital increase of 5.7% based on 15 units transacted.

Mutiara Condominium in Bukit Mertajam in Penang was ranked third by iProperty with capital growth of 5.49% based on 26 units transacted in the year.

Mutiara Condominium’s appeal lies in its low-price points with buyers able to own a three-bedroom unit for as low as RM165,000 and is 10 minutes away for quick access to Penang island.

Coming fourth was Villa Wangsamas, a high-density condominium consisting of 1,300 units across nine residential towers in Wangsa Maju, Kuala Lumpur which experienced price growth of 4.57% over the year.

“Based on current market sentiments, we want to make sure these data-driven findings are made available so that it benefits property investors and homebuyers, be it for the investment purposes or own stay,” Shylendra Nathan, GM of iProperty.com Malaysia Sdn Bhd, noted in a statement.

The Z residence in Bukit Jalil came in next with a capital gain of 2.81% based on 17 transactions.

Z Residence provides a comprehensive list of facilities for its residents with a commitment to green living with 50% of the condominium is dedicated to greenery with trees and lush landscaping.

Similar to the Z Residence, OUG Parklane is another high-density development which saw a capital growth of 2.7%.

Strategically located in Old Klang Road, the serviced apartment complex has 4,225 units across 11 blocks and 204 commercial units located on the ground floor.

Due to its massive scale and the variety of retail units available including eateries, launderettes, 24-hours clinics and minimarts, OUG Parklane can be considered a mini township of its own.

iProperty findings identified Mutiara Ville, a mixed-use development in Cyberjaya, as a rising residential neighbourhood which saw a 1.64% rise in market value. The property consists of seven residential towers, a commercial centre, and a four-storey retail complex.

Completed in 2017, the condominium’s main highlight is its strategic location nearby various hotspots in Cyberjaya including Cyberjaya Lake Garden, DPulze Mall, Shaftsbury Square and institution such as Cyberjaya University of Medical Sciences, Kirkby College, University of Cyberjaya.

This would make Mutiara Ville a top choice for student accommodation, making it an attractive option for property investors.

Lastly, with capital growth of 1.07 % based on 13 transactions is Westside Three, located in Desa ParkCity in KL, iProperty noted.

Desa ParkCity is an upscale self-contained suburb in KL that is popular with families and couples in the higher income bracket and was completed in 2019.