Platinum OUG Residence

Platinum OUG Residence, located in Bukit Jalil, Kuala Lumpur, is a residential condominium developed by Platinum Victory Group.

It consists of two blocks, with Block B offering 440 free cost units and 220 RUMAWIP units, and Block A comprising 660 PPA1M apartments.

Sub Sale Market Analysis

1. Transaction Price Analysis

• Launch Price: The launch price of the units ranges from RM 150,000 to RM 557,000[2].
• Median Sale Price: The median sale price is RM 501,300[2].
• Sub-Sale Price: Sub-sale prices are range from RM260,000 to RM618,000, based on recent transactions, a 1,250 sq ft dual-key unit was sold at RM 453,600 during a reauction, indicating a price per square foot (psf) similar to RUMAWIP units[5].

2. Rental Price Analysis

• Rental Prices: Rental prices at Platinum OUG Residence range from RM 1,100 to RM 2,800 per month, as seen in listings on PropertyGuru[3].

3. Market Trends

• Klang Valley Residential Market: The broader Klang Valley residential property market saw an improvement in 2023, with a 1.4% increase in transaction activities compared to 2022. The average prices in some areas like TTDI and OUG increased by 3.9% and 6.5%, respectively, indicating a stable and recovering market[4].
• Loan Applications and Approval Rates: Loan applications and approval rates for residential purposes increased by 12.87% and 11.52%, respectively, in 4Q2023, suggesting a positive outlook for property developers[4].

4. Challenges

• Facilities and Quality Issues: There have been concerns raised by residents and potential buyers about the quality of construction and the allocation of facilities, with some facilities being squeezed into residential units and a lack of clear separation between different types of units[5].
• Legal Issues: There are ongoing legal issues related to the project, which have been announced on Bursa Malaysia[5].