For Sale: 2 Storey Terrace Corner House
Location: Jalan Krokop 3, 98000 Miri, Sarawak
Type: Terrace House
Price: RM 680,000

Property Details:

– Corner unit
– Leasehold (Until 2117)
– 5 bedrooms 2 bathrooms
– Land size : 9 points
– 356.9 sq meters

Nearby Amenity
– Lao Yang Cafe
– Ah Beng’s Laksa
– QAVAH by js
– Madam Wee Food Cafe
– Taska Dunia Kanak-Kanak
– Jin Jin Cafe
– Some Shak Lung Kung Temple 海龙寺斗姆宫
– Pasar Besar Krokop
– Everwin Supermarket (Krokop)
– Pei Min Middle School
– Sekolah Kebangsaan Miri
– Tadika Thai Poo
– Pelita Commercial Centre

Sub-Sale Market Analysis

1. Recent Transaction Prices

The following are some recent transaction prices for properties in the Krokop area, showcasing the diversity in pricing based on property size, condition, and location within the neighborhood:

Krokop 2: A property with a land size of 534.59 square meters and built-up area of 183 square meters was sold for RM 550,000 in December 2021.
Krokop 3: Two properties with a land size of 243.60 square meters were sold for RM 480,000 in January 2022 and RM 495,000 in May 2022. A corner lot similar to the one currently listed at RM 680,000 exemplifies the upward trend in pricing.
Krokop 4: A property with a land size of 392.10 square meters was sold for RM 498,000 in January 2024, while another property with a land size of 391.40 square meters fetched RM 700,000 in September 2022.
Krokop 5: A larger property with a land size of 387.60 square meters sold for RM 770,000 in January 2022.
Krokop 6: Properties here have seen higher transaction prices, with one selling for RM 800,000 in April 2023 and another for RM 750,000 in May 2024.

2. Rental Prices

In addition to sales transactions, the rental market in Krokop is also thriving. The following are insights into current rental prices for properties in the area:

Monthly Rent: Depending on the size and condition of the property, rental prices typically range from RM 1,200 to RM 2,500 per month. For example, a standard 5-bedroom terrace house can command a rental price of around RM 1,800 to RM 2,200, while larger or newly renovated properties may go for higher amounts.
Demand for Rental Properties: The steady demand for rental properties can be attributed to the area’s appeal among families and expatriates. Krokop’s proximity to schools, shopping centers, and healthcare facilities makes it an attractive option for long-term renters.

3. Market Trends

The Krokop sub-sale market shows several key trends:

Increasing Transaction Prices: There has been a noticeable upward trend in transaction prices over the past few years. This is indicative of increased demand for properties within Krokop, driven by its favorable location and amenities.
Stable Rental Market: The rental market remains robust, with consistent demand from both local residents and expatriates. This stability offers a reliable income stream for property investors.
Investment Potential: With property values steadily rising and rental prices remaining competitive, investing in the Krokop area presents a promising opportunity for both new buyers and seasoned investors.