SUBURBAN living with bigger and inexpensive offerings, and spacious landed properties priced below RM1 million are rare in the Klang Valley. What more in established areas like Petaling Jaya, Cheras, Bangsar and Puchong.
This has pushed those seeking decently-priced terraced houses to tap second-tier locales.
The “PropertyGuru Sentiment Survey H1 2018” shows this prevailing trend, with 22 per cent of the respondents looking at buying properties in the outskirts of Selangor.
PropertyGuru Malaysia country manager Sheldon Fernandez said property seekers have been flocking to the suburbs since 2016.
“This indicates the emergence of new property hotspots in suburban areas of Selangor, which are between 20km and 40km from the city centre,” he told NST Property.
He said there is no doubt the Klang Valley is still the preferred area at 73 per cent, but the trend to buy further from the city is becoming more prevalent and buyers are told to consider buying further from the city centre as properties are cheaper.
“For example, hotspots that have ample amenities, such as Subang Jaya, USJ and Puchong, are ideal choices and move-in ready.
“However, a single-storey landed property in matured Subang and USJ areas can cost above RM800,000, making it harder for property seekers to reap value from their purchase.”
On the other hand, Fernandez said Putra Heights in the district of Subang, which is close to these hotspots, is a township that has an abundance of landed properties and appeals to families and upgraders due to its conducive and family-oriented environment.
Putra Heights, set in the foothills of Bukit Cermin, is a 727ha mature township developed by Sime UEP Properties since 1999.
Centrally located, the township is relatively quiet, giving it an illusion of being secluded.
The good news is, according to the PropertyGuru Market Index (PMI), the asking prices have been on a decline in the last quarter.
Prices have peaked and now are showing signs of a correction as the PMI has dipped 5.7 per cent year-on-year (second quarter of last year to second quarter of this year).
Fernandez said it seems that sellers are beginning to lower the prices, as there is a quarter-on-quarter decline of three per cent in asking prices.
Double-storey terraced houses with land area of 22ft by 75ft and built-up of 1,600 sq ft are being priced from RM600,000.
For the first-time buyer, a monthly mortgage of about RM2,600 for the next 30 years for a four-bedroom and three-bathroom unit may seem reasonable.
“Property value in Putra Heights has enjoyed an average increase of 30 per cent, reflecting the increasing attractiveness of the area’s residential and commercial products over the years,” said Fernandez.
Tough start for Putra Heights
A bulk of houses was completed and the keys handed over to the buyers just before the 1998 financial crisis. Thus, those who purchased the properties were unable to service their loans, resulting in foreclosures and auctions.
Many units were left empty until 2007, and Putra Heights was deemed as a ghost town. Furthermore, there were no supporting commercial components such as shops, banks, restaurants or clinics.
However, when Sime UEM Property launched properties there in 1999, it became an extension of the successful Subang Jaya and UEP Subang Jaya neighbourhoods.
In 2009, Putra Heights had more than 6,400 units of mixed properties comprising 5,000 double-storey link houses, 56 bungalow lots, 324 shop-offices and 1,400 mid-cost apartments.
The take-up was an impressive 98 per cent, with sales totalling RM 1.6 billion.
The opening of Sime Darby Property Bhd’s RM65 million Putra Heights Interchange in 2009 further boosted demand, and the developer continued building.
The interchange is strategically located within the fast-developing corridor leading to Putrajaya, Cyberjaya and the Kuala Lumpur International Airport via the North South Expressway Central Link.
Today, there are many housing estates in Putra Heights, such as Laman Putra and Putra Avenue and Putra Bistari, comprising two-storey terraced and link houses.
The township is also famous for its upper-scale gated-and-guarded neighbourhoods, such as Putra Palms, Putra Bistari, The Glades and Kingsley Hills, featuring luxurious high-rise condominiums to low-density villas, link houses, semi-detached and bungalows suitable for upgraders.
Bringing life to Putra Heights
The township is home to Giant Putra Heights and the Putra Point Commercial Centre, which has two- and three-storey shop-offices.
There are restaurants, clinics, cafes,
boutiques, mini-markets, car services, pet shops and banks, adding vibrancy to the township.
Near the commercial centre are residences which include Putra Bahagia, Laman Putra, Putra Palms, Putra Avenue and The Glades.
Kingsley International School in the commercial centre, SRJK (C) Tun Tan Siew Sin and Sekolah Menengah USJ23 are educational offerings in the township.
Institutes of higher learning are available in neighbouring locales.
Putra Heights owes its renewed life to the extended Kelana Jaya light rail transit (LRT) line which ends in the township.
The LRT from Putra Heights to the Kuala Lumpur city centre began operations in 2016 and is within a walking distance from the commercial centre.