Urban areas see a surge in property searches, with prospective buyers seeking homes in close proximity to workplaces
by NORAIN MT
PETALING Jaya (PJ) emerged as the hottest area in demand among property seekers for 2023, marking its second time securing the top spot in the annual list, having been the winner previously in 2021. Meanwhile, Bangsar and Bukit Jalil made their debut on the yearly list.
Urban areas saw a surge in property searches, with prospective buyers seeking homes in close proximity to workplaces. The trend marked a shift in preference back towards established urban areas due to the return-to-office policy complemented by an increasing number of employers.
In revealing the top 10 most searched areas among property seekers in Malaysia, iProperty. com.my said that the trend in 2023 varied from the previous year where homebuyers were considering select areas outside of Klang Valley due to work flexibility. The return-to-office trend boosts the appeal of urban living with benefits like connectivity, convenient access to workplaces via public transport and vibrant amenities.
Here are the top-searched areas in 2023, listed in descending order.
10. Cyberjaya
Cyberjaya has returned to the list of most searched areas in 2023 after its last appearance in 2021. Known as the Silicon Valley of Malaysia, Cyberjaya serves as the base for many multinational technology companies with Multimedia Super Corridor (MSC) status.
In addition to its rapid technological advancement, Cyberjaya is surrounded by public parks and recreational spaces, including the Cyberjaya Lake Gardens. It is also an educational hub with various tertiary learning institutions such as Multimedia University (MMU), Limkokwing University and the University of Cyberjaya.
The student-friendly environment, combined with the presence of many expatriates working in the area, contributes to the thriving rental market and the increased number of searches in the past year.
The top three most transacted properties in Cyberjaya were Evergreen Garden Residence, Serin Residency and The Mulia Residences. In terms of property searches (the most-searched property percentage is derived from a comparison of data from January to November 2023 versus the same period in 2022 on iProperty.com.my), Aspire Residence and Sanderling Lakefront saw the most significant gains, with year-on-year (YoY) increases of 731.6% and 256.7% respectively.
Alfa Bangsar Serviced Apartment is the most searched property in Bangsar (Source: alfabangsar.com)
9. Bangsar
Making its debut on the list is Bangsar, a residential suburb on the outskirts of Kuala Lumpur (KL). The upscale neighbourhood is strategically located near PJ, KL City Centre (KLCC), Mont Kiara, Sri Hartamas and Damansara Heights.
Bangsar is renowned for its luxurious landed and non-landed developments, offering a diverse set of options for aspiring buyers. With several ongoing developments in the area, developers are actively seeking landbanks to meet the high demand, further solidifying its association with affluence.
The top three transacted landed homes in Bangsar were Bangsar Baru, Bukit Bandaraya and Lucky Garden (Jalan Bangsar). Meanwhile, Alfa Bangsar Serviced Apartment (103.9% YoY) and Bangsar Peak Condominium (43.1% YoY) gained the most searches.
8. Subang Jaya
In 2023, Subang Jaya made a comeback, securing the eighth place since its last appearance in 2021. This suburban area offers diverse property options such as Teja by Sime Darby Property Bhd and is home to multiple educational institutions, including INTI International University and Colleges, Monash University Malaysia and Taylor’s University Lakeside Campus.
Nestled within this lively community, Subang Jaya boasts exceptional highway connectivity, placing it in close proximity to the vibrant districts of Klang Valley, Damansara Utama, Bandar Utama, Kota Damansara and Mutiara Damansara.
The most transacted properties in Subang Jaya were landed homes in Putra Heights, USJ2 and USJ11, while the most-searched properties were Armani Soho (402.5% YoY) and Summer Villa Condominium (71.3% YoY).
7. Kuala Lumpur City Centre
KLCC returns to the list at the same position it finished in 2021. The area is renowned as the central district of KL, home to both expatriates and locals, featuring iconic landmarks such as the Petronas Twin Towers. It continues to serve as KLCC’s hub of convenience, connected to Bukit Bintang, TRX and the Cochrane/Maluri area via the mass rapid transit (MRT) Line 1. The scarcity of land around KLCC’s stations enhances its value growth and the resurgence of various business sectors has led to the development of numerous high-end homes within the city.
The main transactions this year include Residensi Laville, Suria Stonor and Platinum Suites (The Face Suites), while the top two most-searched properties, Royce Residence (255.3% YoY) and The Manor (218.5% YoY), testified to the area’s alluring attractions.
6. Bukit Jalil
A newcomer to the list, Bukit Jalil has gained prominence as an affluent suburb housing numerous sports and tech facilities, including the Bukit Jalil National Sports Complex and Technology Park Malaysia. It is also home to tech companies such as Mimos Bhd, Sirim Bhd, Iris Corp Bhd, Astro and more. Bukit Jalil thrives with local developments such as Bukit Jalil City and Pavilion Bukit Jalil.
The top three transacted properties in Bukit Jalil — The Z Residence, Residensi Park and Arena Green — stood out with their decent median price of RM308,000, promoting affordable properties surrounded by ample facilities and amenities within the suburb itself. The two most-searched properties were Aurora Suites @ Bukit Jalil (148.3% YoY) and Casa Green (16% YoY).
5. Puchong
Retaining its fifth-place position from 2022, Puchong stood out as a mature and well-established area, offering numerous shopping and leisure centres such as Tesco Extra Puchong, IOI Mall Puchong and SetiaWalk Mall.
In terms of accessibility, Puchong is served by the Damansara-Puchong Expressway (LDP), Shah Alam Expressway and Putrajaya Link. The extension of the Sri Petaling Light Rail Transit (LRT) Line into Puchong has further enhanced its connectivity.
Looking at Puchong’s property transactions in the past year, most homebuyers purchased terrace houses in Bandar Puchong Jaya, Taman Putra Prima and Taman Puchong Utama. The top two most-searched properties are high-rise homes — Twin Residences (230% YoY) and Seri Puteri Hills (98.5% YoY).
4. Cheras
Nestled in a mature area featuring old restaurants and new shopping hubs, Cheras boasts a perfect blend of old-world charm and modern attractions. The area benefits from its proximity to KLCC and is well-served by the Sri Petaling LRT Line and the Cheras-Kajang Highway.
The completion of the Sungai Buloh-Kajang MRT Line and new highways such as the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) has significantly boosted demand for properties in Cheras. The Sungai Buloh-Kajang MRT Line, with 11 stations passing through Cheras, has further enhanced its connectivity.
The projects in Cheras mainly comprise high-rise condominiums and apartments, with the top three most transacted properties this year were Residensi M Vertica, Sri Penara and Angkasa Condominiums. The two most-searched properties are Aster Residence (363.5% YoY) and Trion @ KL (271.4% YoY).
Country Garden Danga Bay is among top 3 transacted properties in JB (Source: dangabaycondo.com)
3. Johor Baru
Johor Baru (JB) secured the third spot, one position higher than in 2022. The number of property transactions in the area is on the rise as property seekers hunt for deals ahead of the opening of the JB-Singapore rapid transit system (RTS), expected to be completed by the end of 2026. Additionally, the move to ease the conditions of the Malaysia My Second Home (MM2H) programme, coupled with the rise in rental costs in Singapore, could further boost the sale of properties in Johor.
The top three transacted properties in JB were Taman Johor Jaya, Country Garden Danga Bay and Taman Pelangi. One of the most searched properties this year is Trellis Residences (521.6%), strategically situated at the intersection of major roads and near the CIQ Complex, JB Sentral and the Bukit Chagar RTS Link Station, offering a direct link to Singapore. Meanwhile, Twin Tower Residence recorded a 237.3% YoY increase in searches.
2. Mont Kiara
Mont Kiara finished as the runner-up in 2023, jumping from eighth place in 2022. Renowned among expatriates and affluent locals, Mont Kiara flaunts its established amenities and prestigious international schools such as Mont’Kiara International School, Garden International School and the French School of Kuala Lumpur. Its central position among Damansara Heights, Bangsar and KLCC, coupled with easy access via key expressways, allows for quick entry to the main city.
For Mont Kiara, the most transacted properties were Seni Mont Kiara, Residensi 22 Mont Kiara and Pavilion Hilltop. The top two most-searched properties are serviced residences, Trinity Pentamont (417.8% YoY) and Residensi Sefina Mont Kiara (89.1% YoY).
1. Petaling Jaya
Taking the crown this year is PJ, marking its second time securing the top spot in the annual list, having been the winner previously in 2021. Its network of highways and public transport, along with a diverse range of amenities, makes it an ideal living destination for city folks. Situated at the crossroads of KL, Sungai Buloh, Shah Alam, Subang Jaya and Puchong, PJ hosts popular shopping malls such as 1 Utama Shopping Centre, IKEA Damansara, The Curve and IPC Shopping Centre.
The top three transacted properties in 2023 included a variety of bungalows, semi-Ds and terrace houses in SS2, SS3, SS22 and SS22A Damansara Jaya. Meanwhile, two of the most searched properties in PJ were Atwater Serviced Apartment (386.6% YoY) and Panorama Residence Condominium (148% YoY).
This article first appeared in The Malaysian Reserve weekly print edition
Source: The Malaysia Reserve
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