Riam Miri

Riam, located in the heart of Miri, Sarawak, is a flourishing residential neighborhood that offers an attractive blend of modern living and traditional charm.

Known for its strategic location, Riam provides residents with unparalleled access to major highways, commercial centers, and recreational facilities.

The diverse range of housing options makes it an ideal choice for families, professionals, and retirees seeking a vibrant and well-connected community.

Features

• Prime Location: Riam is strategically situated near the Miri Bypass, providing seamless connectivity to other parts of Miri and beyond. This makes commuting to work, schools, and shopping centers convenient for residents.
• Diverse Housing Options: The neighborhood boasts a wide selection of residential properties, including 1-1.5 storey semi-detached houses, 1-1.5 storey terraced homes, and 2-2.5 storey terraced units. This variety caters to different budgets and lifestyle preferences.
• Thriving Commercial Hub: Residents have easy access to a vibrant commercial landscape with numerous shopping complexes, supermarkets, local shops, and eateries. This ensures that daily needs and leisure activities are easily fulfilled.
• Recreational Facilities: The nearby Miri Recreational Park offers lush greenery and family-friendly facilities, while the Miri-Bintulu coastal road provides stunning views and opportunities for outdoor activities such as jogging and cycling.
• Educational Institutions: Riam is home to several reputable schools, including primary, secondary, and international institutions, making it an attractive option for families with children.
• Healthcare Accessibility: A range of healthcare facilities, including hospitals and clinics, are readily available to meet the medical needs of residents.
• Rental Opportunities: With its strategic location and amenities, Riam presents attractive rental opportunities for investors seeking steady returns.

Subsale Market Analysis

1. Transaction Prices

The transaction prices for residential properties in Riam vary widely, reflecting the diversity of housing options available.

Here’s a detailed breakdown based on recent data:

• 1-1.5 Storey Semi-Detached Houses: These properties have shown a price range from RM388,000 to RM668,000. The variation in prices can be attributed to factors such as property size, location within Riam, and the condition of the house.
• 1-1.5 Storey Terraced Homes: These homes typically see transaction prices ranging from RM380,000 to RM545,000. Terraced homes often appeal to first-time buyers and small families due to their affordability and manageable size.
• 2-2.5 Storey Terraced Units: The prices for these larger homes range from RM498,000 to RM690,000. The added space and modern designs make these units attractive to larger families and those seeking more luxurious living arrangements.
• Detached Houses: Detached homes in Riam have seen transactions at higher price points, often exceeding RM700,000. These properties offer more privacy and land space, catering to buyers looking for exclusivity and comfort.

2. Rental Prices

Riam’s rental market is equally dynamic, offering a range of options that cater to various tenant needs.

Rental prices vary depending on the type of property and its specific location within Riam:

• 1-1.5 Storey Semi-Detached Houses: Monthly rental prices for these homes typically fall between RM1,200 and RM1,800. Their spacious layouts make them popular among families seeking more room.
• 1-1.5 Storey Terraced Homes: These properties command monthly rents ranging from RM800 to RM1,200. Their affordability makes them an attractive option for young professionals and small families.
• 2-2.5 Storey Terraced Units: With added space and amenities, these units generally rent for between RM1,500 and RM2,500 per month. They appeal to tenants who prioritize modern living spaces with ample room.
• Detached Houses: Detached homes in Riam are often rented out for RM2,000 to RM3,500 per month. They provide tenants with privacy, larger plots of land, and more luxurious accommodations.

3. Factors Influencing Prices

Several factors influence the transaction and rental prices in Riam:

• Proximity to Amenities: Properties closer to commercial centers, schools, and healthcare facilities tend to command higher prices due to their convenience.
• Property Condition: Well-maintained or recently renovated homes are likely to attract higher transaction and rental prices.
• Market Demand: High demand for specific property types can drive up prices. For example, larger families may prefer 2-2.5 storey terraced units, increasing their market value.

4. Comparative analysis of properties near Riam