Featured Image from www.thestar.com.my
2018 saw some interesting transactions coming in, with price tags that shoots through the roof and beyond. This time, we’re going to dig our golden shovel into some of the most expensive transactions in Malaysia throughout 2018 across various sectors – from residentials to development lands.
RESIDENTIAL – BUKIT TUNKU, KUALA LUMPUR
Bukit Tunku is an affluent residential enclave on the fringe of Kuala Lumpur. A quick check on listing sites online shows that bungalows in the area can easily reach more than RM10 million, with some selling for up to RM35 million. It’s even coined as the “Beverly Hills of Kuala Lumpur”.
With its reputation, it comes as no surprise that a residential property there tops our list of the most expensive transaction in 2018. Transacted on April 2018, it is the 2nd largest transaction in terms of price for the area since 1999 – signed sealed and delivered for a staggering RM45.68 million.
Having its own cul-de-sac entrance, the 3-floor residential property is tucked away in Jalan Tijani boasting a land area of 45,607 sq.ft., disclosing a rate of RM1,002 psf.
The second most expensive transaction last year is also from around the neighbourhood transacted for RM26,635,164 (RM1,203 psf) with a land area of 22,142 sq.ft.
Bukit Tunku residential properties (inclusive of all property types such as condominiums)
Median price: RM1,550,000
Median rate: RM651.58 psf.
COMMERCIAL – BANGSAR SOUTH, KUALA LUMPUR
There are various types of commercial properties – retail, office, shop lots, mixed development etc, however the biggest transaction in 2018 involved a purpose-built office (PBO), transacted in June 2018 for RM120 million.
The PBO is located in Bangsar South, located on a very spacious land area of 41,818 sq.ft. The 7-floor office has a total built-up area of 157,090 sq.ft.
Bangsar South, previously named Kpg. Kerinchi, is a popular commercial and business hub, absorbing the spill from the bustling Golden Triangle. With great connectivity and living up to the concept of live-work-play, it has the reputation of being one of the most sought-after addresses in Klang Valley.
Bangsar South commercial properties (mostly PBOs and office lots)
Median price: RM1,072,850
Median rate: RM926 psf
Median price/floor: RM71,429
INDUSTRIAL – SHAH ALAM, SELANGOR
Industrial properties were seen to have better sentiment in the past year, as reported by The Star. The paper reported that, according to the Valuation and Property Services Department’s Property Market Report 2017, the industrial property sub-sector has weathered the past couple of years well and is poised for good growth.
The highlight in industrial property transaction in 2018 saw a major transaction priced at RM85 million (RM134 psf.) involving a 209,477-sq.ft. detached factory in Seksyen 15, Shah Alam – transacted on April 2018. The factory is built on a 634,935 sq.ft. piece of land.
Although the rate per square-foot is lower than the median rate for industrial properties in Shah Alam, this particular transaction owes its hefty price tag to its large land area, which is 7 times larger than the median land size for detached factories in the area (87,118 sq.ft.).
Shah Alam industrial properties (across all industrial property types)
Median price: RM1,850,000
Median rate: RM407.89 psf.
AGRICULTURE – KLUANG, JOHOR
As for agriculture land, the most expensive transaction of the year occurred in March 2018 involving a purchase of share of an oil palm estate in Kluang, Johor. It involved a 571.76 acres oil palm estate worth RM34.3 million, with a rate of RM60,000/acre.
As one of the largest producers of palm oil in the world, Malaysia’s total oil palm planted area stood at 5.81 million ha as of 2017. However, a freeze on land expansion for oil palm plantations was announced by the government in September in order to maintain at least 50% of the land as forest cover.
Its effect on plantation land prices remains to be seen however the government is hopeful for diversification within the industry as a counter measure against the current overproduction of palm oil in the region.
Johor agriculture lands (transacted share for oil palm estates only)
Median price: RM225,000
Median rate: RM50,094/acre
DEVELOPMENT LAND – SUBANG HI-TECH, SHAH ALAM
Last but not least, development lands saw some huge transactions in 2018 and at the top of the list is a RM143 million potential commercial development land situated in Subang Hi-Tech, Shah Alam. Transacted for RM585 psf., the total land area spans 244,450 sq.ft.
Subang Hi-Tech Industrial Park comprises various businesses and it owes its popularity to its strategic location and great accessibility to major highways such as Federal Highway, NKVE and ELITE. The availability of the extensive range of businesses shows that it is an area with high potential and great possibilities for businesses to develop and grow.
Subang Hi-Tech development land
Median price: RM7,150,000
Median rate: RM84.25 psf.