Taman Esplanad Bukit Jalil

Taman Esplanad, located in Bukit Jalil, is an old and valuable mixed development that has seen significant appreciation in property prices since its inception.

Here is a detailed analysis of the sub-sale market, focusing on transaction prices and rental prices:

Sub-Sale Market Analysis

1. Transaction Prices

• Price Range: The selling prices of properties in Taman Esplanad range from RM380,000 to RM5,200,000, with a price per square foot (psf) ranging from RM452 to RM5,966.
• Appreciation: The prices of homes and shop lots in Taman Esplanad have appreciated immensely over the years. For example, bungalows that were selling for about RM1,600,000 a few years back have now appreciated to over RM2,000,000[3].
• Comparative Analysis: Other developments in Bukit Jalil have also seen significant price increases. For instance, 2.5-storey terraced houses in Jalil Sutera, which were launched at RM200 per sq ft or RM500,000, now command a price of up to RM1.8 million[4].
• Market Trends: The compounded annual growth rate (CAGR) for residential strata properties in Bukit Jalil has recorded about a 10% per annum growth over a 10-year period (2008 to 2017)[4].

2. Rental Prices

• Range: Rental prices in Taman Esplanad range from RM 650 to RM 18,000, depending on the property type and size[2].
• Average Rental: The average cost of renting a property in Bukit Jalil is RM 5,172[2].
• Specific Listings: Examples of rental listings include a 3-storey semi-detached house for RM 5,000 and a 3-storey semi-detached house for RM 6,000[5].

3. Market Insights

• Supply and Demand: The landed segment in Bukit Jalil is becoming pricey due to limited supply and high land prices, leading to a preference for strata properties among buyers[4].
• Oversupply Concerns: There are concerns about an oversupply in the area, with an upcoming offer of 11,214 units of residential properties from 2018 to 2022, which may result in price stagnation and traffic congestion[4].
• Future Prospects: The completion of Pavilion Bukit Jalil in 2020 was expected to turn the neighborhood into the new commercial hub of Kuala Lumpur South, potentially leading to a price hike in residential properties[4].

Sources:

• [1] www.propsocial.my
• [2] www.propsocial.my
• [3] www.realestatemy.com
• [4] best.starproperty.my
• [5] www.edgeprop.my