KUALA LUMPUR: Property prices are expected to rise around three to four per cent this year in the Klang Valley, particularly landed houses in Petaling Jaya, according to real estate services company CBRE WTW Valuation and Advisory Sdn Bhd (CBRE|WTW).
Its associate director of research and consulting, Mary Kurien, said the price increase is driven by land scarcity in the areas, followed by the rising cost of raw materials.
She pointed to the difficulty of purchasing a landed house in the Klang Valley, in areas such as Petaling Jaya, Bangsar, Mont Kiara, Hartamas and Subang.
"You have to go much further out.
"(Landed property projects) are very active in Semenyih, Rawang, and Puncak Alam. New (landed housing) schemes are coming up, but they are significantly further from the city," she said at a press conference following the agency's Sustaining Game Changers: Malaysia Real Estate Market Outlook 2025 presentation here today.
Kurien said there would always be demand for houses, and as property prices are always rising, it is better to buy now to take advantage of prices potentially increasing.
She said there is also higher demand for high-rise properties close to Mass Rapid Transit (MRT) stations.
"So there was quite an interesting shift, where prices of the existing units nearer the train station are affected by the MRT construction due to the nuisance and disturbance.
"However, when it (the MRT station) is completed, rentals, rental activities, and investment activities in these areas have been particularly active," she added. - Bernama
