Petaling Jaya has emerged as one of Malaysia’s top property investment hotspots, with home prices significantly rising since the downturn caused by the 2008 Global Financial Crisis.
As a matter of fact, data from the number-crunching website Numbeo show that the selling price of an apartment at PJ’s city centre has increased to RM906.52 per square feet (psf), while those in the outskirts rose to RM550.14 psf as of December 2019.
To help you narrow down your list of potential investment properties, we listed the top five best-selling condo projects in PJ in terms of transaction volume, according to data from the Valuation and Property Services Department (JPPH). We arranged the developments by their capital appreciation from September 2016 to August 2017 in ascending order.
I. Park 51 Residency
Median Selling Price: RM555,000
Situated in Seksyen 51A, this is a leasehold residential project built in 2016. It consists of four blocks containing a total of 664 units. The condos there are suitable for small and large families, with built-up areas ranging between 662 sf and 2,443 sf.
While Park 51 Residency’s median price is slightly higher than average, the development features a wide array of facilities. For instance, there’s a gym, sauna, swimming pool, and basketball court for staying fit. There’s an indoor games room for entertainment and a landscaped garden, where one can relax amidst nature’s embrace. There’s also a launderette, a poolside cafe, a convenience store, business function rooms, and a barbecue area.
II. Villaria
Median Selling Price: RM360,000
Located along Jalan PJS 2 in Seksyen 2C, this is a leasehold condominium 2km away from the Seri Setia Komuter Station. But compared to Park 51, units here are within reach of middle-income earners due to the more affordable price tag.
The project comprises 304 units and each buyer gets one parking space. The typical unit type contains two bathrooms and three bedrooms. Depending on the condo unit’s location per floor, built-up areas measure from 987 sf to 1,010 sf.
This property has good investment prospects due to the many nearby amenities, such as eateries, grocery stores, financial institutions and other businesses. For example, Tesco Express - PJCC is just a stone’s throw from the development. Aside from that, there is no shortage of good schools in the area. These include SK Taman Medan, SRJK (C) Sungai way, SK Taman Dato Harun and SMK Taman Dato Harun.
Interestingly, Villaria was supposed to be completed earlier in 2003. But the original real estate developer went into dire financial straits during the Asian Financial Crisis. But fortunately, another home builder by the name of Masteron took over the project and fully completed it by March 2016.
III. 1120 Park Avenue
Median Selling Price: RM450,000
This is a large leasehold development that was finished in December 2013, offering a total of 1,120 condo units housed in five residential blocks. It has great appeal to families thanks to its reasonable selling price and wide variety of units, with built-up areas spanning from 873 sf to 1,193 sf.
Situated along Jalan PJS 1/52 at PJS 1, the project enjoys a strategic location. It iss close to Klang Valley’s New Pantai Expressway (NPE), while the distance to the nearest public transport node, the Jalan Templer Komuter Station, is merely 1.7km.
Moreover, the condominium has decent facilities, such as a jogging track, playground, multi-purpose hall, and a swimming pool. In addition, many existing residents gave this condo favourable reviews.
For example, they lauded the clean and spacious common areas, as well as the well-maintained facilities. Apart from praising the project’s modern design and strong security, they also said that it’s difficult to find a relatively new condo in Petaling Jaya that gives each buyer two parking spaces at the aforementioned median price.
IV. Five Stones
Median Selling Price: RM1.7 Million
Despite the sky-high price tag, this was still one of the top selling condominiums, but it can only be afforded by high-income earners. This low-density luxury development offers 377 units spread across five residential blocks, with two blocks comprising low-rise villas. These posh units have large built-up areas ranging from 1,785 sf to a whopping 5,183 sf.
Located within the affluent inner suburb of SS2, residents of this high-end project have no problem in finding a nearby good school for their children. There’s University of Malaya, Seri Stamford College, KDU University College, and SEGi University & Colleges, as well as First City University College, University Tunku Abdul Rahman, and Yamaha Academy of Arts & Music.
Being a luxury condo, Five Stones comes with superb facilities. These include a clubhouse, a terrific playground, a landscaped garden spanning one acre, a multi-purpose hall, swimming pool, and two kinds of gymnasium (healing and dynamic), plus courts for futsal, basketball and badminton.
Furthermore, the earthquake-proof project was built by Selangor Dredging Bhd (SDB), a reputable and award-winning property developer in Malaysia.
V. Sri Manja Court
Median Selling Price: RM380,000
This development has a large number of units housed in six residential blocks, while built-up areas measure from 825 sf up to 1,215 sf. It recorded the highest capital growth in the stated period. But consider carefully if you’re thinking of investing here. Apart from being leasehold, it’s the oldest condominium in this list as it was constructed in 1977.
Nevertheless, this condominium in Taman Sri Manja enjoys an excellent location as it’s within close proximity to PJS 3, a residential and commercial precinct in Petaling Jaya. In fact, Giant Superstore Sri Manja is just a short stroll from home, likewise for banks, convenience stores, eateries and clinics.
Another positive aspect is that residents can easily travel to not just one but two major highways – the Shah Alam Expressway (KESAS) and New Pantai Expressway (NPE). Meanwhile, the Jalan Templer Komuter Station is merely a 3km drive away.
The downside is that this development has a dearth of facilities. There’s only a playground, covered parking space, and swimming pool, as well as courts for squash and tennis. Another con is that people tend to avoid the area as it’s surrounded by many low-cost developments housing tenants of ill repute.
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(Written by G. Zizan, 24th December 2019)
