Kuala Lumpur: Prices of double-storey residential houses in the Klang Valley, particularly in Kuala Lumpur (KL) and Petaling Jaya (PJ), are projected to rise by 3.0 to 4.0 percent this year.
According to BERNAMA News Agency, property influencer and YouTuber Sean Tan highlighted this trend, noting that high-demand areas such as Desa ParkCity, Bangsar, and Mont Kiara are witnessing significant price increases. Tan emphasized the continued strong performance of landed properties in the Klang Valley, particularly in gated and guarded communities where homebuyers prioritize safety and security.
Tan explained that in areas like Desa ParkCity, limited supply and high living standards contribute to the rising prices. However, he also noted that prices might hit a ceiling in older neighborhoods like SS2 and Kepong due to affordability issues and the competition from newer developments that offer more security.
Looking ahead to 2025, Tan identified industrial properties as potential star performers, especially in regions like Johor and the Klang Valley. Locations such as Jelutong in Penang and Lagong in Selangor are emerging as hotspots, driven by competitive land prices and new infrastructure development.
Tan advised potential buyers to analyze data, understand demand-supply dynamics, and keep an eye on infrastructure developments that could impact property values. He suggested that first-time homebuyers focus on affordability and meeting personal needs, while investors should target areas with strong rental yields and future growth potential.
Focusing on industrial property trends, Tan noted the influx of multinational companies attracted by competitive land prices and burgeoning infrastructure around the Klang Valley. He also mentioned that new infrastructure projects, such as the East Coast Rail Link and the Light Rail Transit in Penang, are enhancing property attractiveness in areas connected by these transport links.
Tan sees growth opportunities in regions like Pahang, Kelantan, and Puncak Alam, attributing this to successful industrial development and infrastructure projects like the West Coast Expressway, which are transforming previously overlooked areas into promising real estate locations.