Novum Bangsar South

Novum Bangsar South is a serviced residence located in Bangsar South, Kuala Lumpur.

Completed in 2019, it offers from 647 sq ft to 1,429 sq ft.

The project is part of the larger Bangsar South development, which has evolved into a thriving district with a mix of technological advancement, architectural brilliance, and cosmopolitan living.

Subsale Market Analysis

1. Transaction Price:

• Launch Price: RM720,000 – RM1,725,000 (RM346 psf – RM1,217 psf)[3].
• Current Selling Price: RM450,000 – RM1,650,000 (RM346 psf – RM1,217 psf)[3].
• Average Transacted Price: Not explicitly stated, but units are selling within the range of RM450,000 to RM1,650,000.

2. Rental Price:

• Rental Range: RM2,500 to RM5,500 per month[2].
• Average Rental Price: RM3,590 per month[2].
• Rental Yield: 4.33% based on the average rental price and the current selling price[3].

3. Market Trends:

• Higher-Price Range Transactions: There has been a spike in the market share of higher-price range (RM750-RM1,000 psf) non-landed properties in Bangsar South, indicating a trend towards more expensive units[1].
• Rental Demand: The area’s proximity to office buildings and amenities contributes to a high demand for temporary space, resulting in higher rental prices[4].

4. Comparative Analysis:

• Neighboring Projects: Projects like The Estate by BON Estates have shown an 18% gain from their launch price to their current median sold price, indicating a positive trend in the area[1].
• Rental Yield Comparison: Novum’s rental yield of 4.33% is competitive with other projects in the area, such as KL Eco City (4.18%) and Camellia (4.55%)[3].

Sources:

• [1] www.edgeprop.my
• [2] www.propsocial.my
• [3] www.propsocial.my
• [4] www.youtube.com
• [5] www.bangsarproperty.com.my

Key Points:

• Location: Novum is strategically located near universities, transit stations, hospitals, and schools, making it a desirable residential and investment option[2][4].
• Facilities: The development offers comprehensive amenities, including multiple sky terraces, a 50m lap pool, and fully equipped gym facilities[4].
• Investment Potential: The high demand for rental properties in Bangsar South, coupled with the area’s growing popularity, makes Novum a promising investment opportunity[1][4].