Apartments At Bangi Might Be Your Best Bargain In 2021

Since the Covid-19 pandemic happened approximately in early 2020, the property market performance in Malaysia experienced a significant decline compared to the year 2019 (source: Valuation & Property Services Department Ministry of Finance Malaysia). The residential property sub-sector led the overall property market activity, with 64.7% contribution in volume. The sub-sector recorded 191,350 transactions worth RM65.87 billion, decreased by 8.6% in volume and 9.0% in value compared with 2019.

In macro view of such report as above, it is easy to overlook that the residential property prices took a dive. What is surprising is this isn’t really the case for property prices at Selangor and in the context of what we are going to focus here is the price of non-landed properties at Bangi.

Let’s put these findings on the table, shall we?

Apartments & Other Non-landed Properties At Bangi: Defying Perceptions

According to Brickz.my (all source of data is taken from Valuation and Property Services Department), based on collective data from October 2019 to July 2020 for non-landed properties transacted in Bangi, the highest median price per square foot (psf) in July 2020 was RM491.18 psf compared to Selangor’s average median price psf of RM268.95 psf. Not only that, these prices at Bangi is actually on an upward trend compared to Selangor prices in general where it has been quite stagnant.

Thanks to possibly the spillover effect from buyer’s decision to get a more bang for the buck property at Bangi compared to its nearby peers, it is easy to see why they will flock over to Bangi as their best choice to scoop up properties at Bangi, contributing to its increasing demand and prices that defy the external market conditions.

Apartments At Bangi Vs Its Peers

For the context solely on apartments, let’s take a look at Bangi’s apartments transaction performance compared to its nearby peers:

Overall, we can observe that Bangi recorded the most transactions with the second lowest median price psf. The comparisons overall may not seem that fair, given that Cyberjaya and Putrajaya only recorded 1 transaction in 2 years. However, the above indicates that the market for apartments is pretty active in both Bangi and Kajang compared to Cyberjaya and Putrajaya.

Evidently speaking, the active market for non-landed properties generally indicate the increase of economic growth prospects in the particular area with properties like typical apartments and condominiums being a more affordable option for property buyers.

To establish a fair comparison, compare the prices of apartments between Bangi and Kajang. Figure wise, it would have been tilted towards Kajang. But for those who would have been familiar with the development of Bangi which is arguably more superior than Kajang (in terms of emergence of numerous property developers, new hospitals, better education establishments and abundant natural landscapes), we believe Bangi’s apartment prices still have more room to grow in terms of price appreciation.

Southville City’s Serviced Apartments: The Catalyst Of Premier Lifestyle In Bangi

Southville City is located in the prime location of Bangi with 4 beautifully landscaped parks within a 10-acre green sanctuary with 1,400 trees from 26 species. Park areas feature over 20 outdoor gym and par-course facilities, a 7.1 km loop track for jogging and cycling, and ‘The Pinnacle’ a 2,200 sqm open area. It also features one of the largest playgrounds in the state, which is the first to be certified to international safety standards.

With three projects of eclectic serviced apartments: The immersive Sensory Residence that comes with modern lifestyle facilities, Cerrado Suites that boasts large podium with themed landscaped gardens and Savanna Executive Suites that are highly customizable to suit your personality and profession, Southville City is the gateway to a holistic living in Bangi.

Be mesmerized with the lifestyle of Southville City at http://www.southville-city.com/

Citations:

1. https://www.brickz.my/transactions/residential
2. https://napic.jpph.gov.my/portal/key-statistics