Menara UOA Bangsar

1. Transaction Prices

• Median Transacted Price: The median transacted price for Menara UOA Bangsar is RM 1,117,000 with a median price per square foot (psf) of RM 858.07. This data is based on the latest 12-month available period[1].
• Year-over-Year (YoY) Change: The median transacted price has seen an 8.45% YoY increase, while the median price psf has experienced a -1.36% YoY decrease[1].
• Range of Transaction Prices: The transaction prices range from RM 880,000 to RM 1,406,000, with prices per square foot ranging from RM 857.63 to RM 894.48[1].

2. Rental Prices

• Rental Listings: Rental listings for Menara UOA Bangsar show a variety of prices depending on the size and furnishing of the units. For example, a 1,324 sqft fully furnished office is listed for rent at RM 5,000, which translates to RM 3.78/sqft[2].
• Larger Units: A 7,287 sqft unfurnished office is listed for rent at RM 38,600, which equates to RM 5.30/sqft[5].

3. Market Insights

• Occupancy Rates: The occupancy rate for Parcel B (Menara UOA Bangsar) is expected to rise to above 60% in the fourth quarter of financial year 2024, from 58% in 3QFY2024, which could positively impact rental prices[4].
• Market Challenges: The office market in Kuala Lumpur faces challenges due to oversupply, which limits positive rental reversions and necessitates asset enhancement initiatives to sustain existing and attract new tenants[4].

Key Points:

• Median Transacted Price: RM 1,117,000
• Median Price psf: RM 858.07
• Rental Price Range: RM 3.78/sqft to RM 5.30/sqft
• Expected Occupancy Rate: Above 60% in 4QFY2024

Sources:

• [1] www.propertygenie.com.my
• [2] www.edgeprop.my
• [3] www.edgeprop.my
• [4] www.edgeprop.my
• [5] www.edgeprop.my