The headquarter of the first company I joined was located along Japan Ipoh. On and off I would fly down from Penang to KL for meetings. That was 16 years ago. Then, I felt that the houses or even offices there were not that modern. In fact I felt the area was a little dated. Yes, even then I already felt so. Recently, theedgeproperty.com published a series of articles on Jalan Ipoh. Well, except for the newer project by YTL, the rest of the projects are considered the affordable ones.
It said that the average price per square foot (psf) of non-landed properties was slightly lower than RM400 and the average transacted price of a unit was RM435,000. (HEY, if you are looking for affordable high-rise, this is still available). In fact according to the report, the largest number of transactions were for properties between RM300,001 to RM400,000 price range (29%). This is then followed by the usual RM400,001 – RM500,000 range (22%).
When ever we look at average prices, always note that when an area is mature and there are not many new launchings, the price psf is unlikely to undergo a sudden huge change. Of course, there are also few available plots of empty land for sale too. The main reason why prices would increase would also have to be pushed up by new condo projects. In Jalan Ipoh, the main contributor would be YTL’s Sentul West. That’s a totally new level altogether compared to the older projects all along Japan Ipoh. The Maple in Sentul West had an average transacted price of RM1 million. Other cheaper but still very affordable in terms of location would be Villa Angsana (RM560,000), Sang Suria (RM553,000) and Rivercity Condominium (RM533,000).
Updated on 14 May 2016. Please refer image from propertyguru.com.my A few projects with prices ranging from RM350,000 to RM635,000. Not too bad for an area which is just a few kms away from KLCC. Personally, unless the maintenance has been good I would not recommend apartments which are older than 15 years. Reason is simple, if the maintenance has been good all these years, the prices would have also appreciated in tandem, except if the location is totally BAD which is not the case for Jalan Ipoh. Yes, the jams are likely to be bad but then again, there are really not many things we can do except to change the lifestyle a bit. OR, take the public transport.
So yes, another area where affordability is still present today. View a couple of units if you are in the market for a home. Chances are there would be those that meets your budget. Stay objective and buy accordingly. Happy searching for an affordable unit, especially during the current slowdown.
written on 21 June 2015 and updated on 14 May 2016.
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