Cheras is known to be one of the most in-demand locations for property.
That being said, Cheras is huge and so it’s good to know which areas are trending in the property market and why.
Here are the top five hottest locations in Cheras based on completed transactions in 2020.
Bandar Mahkota Cheras
This township is affordable for most budget buyers as there is something for everyone – from low-cost flats to three-storey semi-detached villas.
This area also gets five stars in terms of convenience and accessibility as there are many restaurants, hospitals and clinics to serve the residents.
On the downside, there is the rather high crime rate to consider and traffic congestion during rush hours. However, the new MRT line planned in the near future will ease congestion considerably.
This highly sought-after township in Cheras saw a drop in sales transactions by 14.75% from 2019 to 2020 although the median price range within this same period appreciated by 1.37%.
Venice Hill
This second most sought-after location for property buyers is situated to the south of Cheras and has some excellent developments in the neighbourhood.
This area has a green landscape with an excellent view of Kuala Lumpur city. This makes it an in-demand location for even medium range home buyers. The availability of hospitals, restaurants and schools makes Venice Hill a good place for a young family to settle down.
The downside is that Venice Hill is only accessible through the Cheras-Kajang Highway, making rush hour traffic a daily occurrence.
As a high-demand area, the median price of the average house here was RM265,000 in 2019 but only RM240,000 in 2020, a drop of 67%.
Oddly enough, the number of transactions went up by 81.08% in 2020, propelling the area into the top five most-transacted in Cheras.
Bandar Tun Hussein Onn
Bandar Tun Hussein Onn is a township situated in Batu 9 Cheras. Just 20 minutes from Kuala Lumpur city centre, this is a strategic location with ample amenities from shopping malls to private schools, medical facilities and restaurants.
Most importantly, the township has a green landscape stretching over 752 acres. Named after the third prime minister of Malaysia, Bandar Tun Hussein Onn is the largest freehold housing development in Batu 9 Cheras.
Similar to Venice Hill, Bandar Tun Hussein Onn also saw a rise in property sales in 2020 compared to 2019 by 1.59%. However, the median price of transactions in 2020 increased by only 0.18% compared to 2019.
Bandar Damai Perdana
Located southeast of Kuala Lumpur, this area is credited for its amenities and accessibility. Besides restaurants, banks, petrol stations, schools and hypermarkets, this location is serviced by RapidKL, Metro buses, the Bandar Tasik Selatan LRT as well as multiple highways.
The value of the properties here have appreciated well in the past due to its fast-growing developments as well as the Phoenix flyover and MRR2 highway. Located on slightly elevated land, this area also affords a breathtaking bird’s eye view of the surroundings.
Being in such a strategic position, the median price of properties here have not dropped from 2019 to 2020 despite the pandemic.
However, transactions in the area dipped by 38.89%. This year, developers might be more willing to negotiate a good price to sell the properties here due to the low sales in 2020.
PR1MA Alam Damai
The houses here are modern with lots of greenery, giving the neighbourhood an urbanised look. If you wish to live in close proximity to Kuala Lumpur and enjoy a secured gated community, this is the place for you.
Accessibility is good with MRT stations and the Bandar Tasik Selatan LRT. Amenities here include a hospital, schools, a university and malls.
The average median price of properties here was RM330,000 in 2019 and remained the same in 2020. However, this area saw the most extreme drop in sales by 94.73%.
This suggests that there are a lot of vacant homes at present so prices are negotiable.
This article was written by Fahri Ahmed of PropertyAdvisor.my, Malaysia’s most comprehensive source of property data, property analytics and insights.