What’s affordable in Setapak?

• With the advantage of being close to the city centre, Setapak has witnessed the development of many condominiums. However unlike areas such as KL Sentral and Sentul, it would be inaccurate to say that Setapak has been gentrified as there is a lack of major developments or catalysts to change the area’s landscape. Many of the new projects have been attractively priced to target the mass-market segment.
• As such, based on theedgeproperty.com’s analysis of transactions in the 12 months to 3Q2014, the average transacted price per unit stood at a reasonable RM446,000. The RM400,001 – RM500,000 price range accounted for the largest market share of transactions (21.3%). Some 86.7% of transactions were for homes between RM200,001 – RM700,000.
• Notably, there were no transactions above RM1.0 million except for the sale of a penthouse at Platinum Lake PV12 in March 2014 for RM2.68 million, making it the most expensive condominium unit sold in Setapak.
• By average transacted price, Platinum Hill PV8 is the most expensive development with an average price of RM708,000. In mid-2014, there were two sales of units at RM1.0 million each, which pulled up the average transacted prices there.
• Located just off Jalan Gombak, 288 Residency is the second most expensive condominium with an average transacted price of RM679,000.
• The older developments are more affordable. They are led by Idaman Suria with an average transacted price of RM173,000. The units here are compact at 700 sq ft for a 3-bedroom unit. Other less pricey developments include Teratai Mewah Apartments (RM191,000), Genting Court (RM223,000) and Medan Intan Apartment (RM238,000).