Our Guide To Petaling Jaya’s Property Prices
Petaling Jaya, often referred to as PJ, is a city located in Selangor to the south of Malaysia’s capital Kuala Lumpur. Originally developed as a satellite town to ease overcrowding in Kuala Lumpur, PJ today is a popular city with its own unique atmosphere.
Petaling Jaya property is mainly comprised of residential communities, with some industrial areas offering local job opportunities. The city’s convenient location to the major population centres of KL and the wider Klang Valley has seen it established as a prime location for major federal government departments.
PJ is home to respected malls such as The Curve, Ikea, Mutiara Damansara, and One Utama. The city also boasts impressive academic institutions such as Tunku Abdul Rahman Universiti (UTAR), Tun Abdul Razak Universiti (UNITAR), and Kolej Damansara Utama (KDU).
The wider Petaling district includes over 1.6 million citizens in Selangor, incorporating nearby residential centres of Shah Alam and Subang Jaya, alongside Petaling Jaya.
Petaling Jaya is arranged in city sections such as SS1-SS11, and SS20-SS26, with some sections grouped as part of named neighbourhoods. Some sections in the region such as SS12-SS19 come under the management of neighbouring municipalities, like Subang Jaya.
Sections PJU1-PJU10 incorporate the more affluent Damansara neighbourhoods, and include PJU9, the only township in PJ which shares a postcode with a Kuala Lumpur township. PJS1-PJS10 include areas from Petaling Utama through to Bandar Sunway, with areas of PJS7, as well as PJS9 and PJS11, incorporated under Subang Jaya municipality.
Petaling Jaya Property: Then And Now
Development of Petaling Jaya in Selangor began in the early 1950s, when 800 houses were built on a section of land previously utilised as a rubber estate. The city enjoyed a period of rapid growth in following decades, with the town granted official city status in 2006.
PJ has grown substantially since those early days, with the local council area now covering almost 100 square kilometres, providing a home to over 600,000 residents and approximately 220,000 properties.
PJ has a well-developed infrastructure, and its history as a planned city has seen it grow in a more arranged fashion than the rapid growth of cities such as Kuala Lumpur. Selangor State Development Corporation (PKNS) was primarily responsible for the early PJ property development, but has been followed by other major and renowned Malaysian developers.
Early development mainly focused on accessible and affordable housing, fulfilling the initial goals of creating an affordable housing location to tackle the housing pressures of KL. PJ’s popularity has seen those developments extend significantly into luxury Petaling Jaya condo developments and bungalows, particularly in affluent neighbourhoods such as Damansara, which extends across the KL-PJ state border.
Petaling Jaya enjoys good public transport, with bus routes that stretch throughout the Klang Valley. It also enjoys access to the Kelana Jaya LRT, with five stations extending into a select number of neighbourhoods in Petaling Jaya. The township is well served by expressways, with multiple access points to the federal North-South Expressway, as well as connectivity through the Damansara-Puchong Expressway, Sprint Expressway, New Pantai Expressway, and Federal Highway.
Overall Property Price Trends In Petaling Jaya
PropertyGuru data shows that the average price of property for sale in Petaling Jaya over the 12 months to June 2020 was RM946,000. That represents a 7.6% compound annual growth rate (CAGR) in median price.
The average listing prices in PJ on PropertyGuru have increased steadily in the two years from April 2018 to April 2020, rising from an average listing price of RM756,544 to RM891,556 by 27 April 2020. Those prices have consistently tracked below the Selangor average, which saw average listing prices rise from RM901,347 to RM1,037,871 over that same period.
Petaling Jaya incorporates a wide range of property types, and a house for sale in the city’s desirable Damansara district will fetch a higher listing price than it’s older and more affordable terrace housing. That being said, we can dive into some facts and figures about average prices for property types across PJ.
Bungalows In Petaling Jaya
There are over 2,500 bungalow homes for sale in Petaling Jaya on PropertyGuru, and the average price per sq ft (psf) as of June 2020 is RM989. The most expensive property (at the time of writing) is a stunning luxury bungalow in Tropicana Indah at RM18,000,000, with ten bedrooms and nine bathrooms spread over 12,000 sq ft of property. The most affordable landed property is a one-storey terrace house in Kampung Cempaka at RM250,000.
This huge range of values for landed property in Petaling Jaya showcases the wide availability of properties to suit a range of budgets, reflecting both the early affordable roots and more contemporary growth in luxury properties.
According to Malaysia’s National Property Information Centre (NAPIC), there were 157 detached properties sold in the wider Petaling area, which incorporates Petaling Jaya, Shah Alam, and Subang Jaya, in the third quarter of 2019. That represents just a fraction of the 3,685 property sales that took place in the area that quarter!
Semi-Detached Houses In Petaling Jaya
There are over 300 semi-detached houses for sale in Petaling Jaya on PropertyGuru at the time of writing, with an average price psf of RM2,912, ranging from a lovely one-storey property in Seksyen 8 through to a RM5.5 million seven-bedroom and seven-bathroom semi-detached house in Tropicana Pool Villas.
There were 134 properties defined as semi-detached sold in Petaling in Q3 2019, according to NAPIC. That compares to eight cluster house properties, 34 town houses, and 78 low-cost houses.
Analysis by Rahim & Co Research reveals that prices for both one-storey and two-storey semi-detached houses in Petaling Jaya have remained broadly unchanged between 2015 and 2019, although both experienced a slight drop in the last year. The average price of a one-storey semi-detached has hovered around RM1.5 million, and two-storey houses at approximately RM2.4 million.
Petaling Jaya Condominium Prices
Condominiums are now a popular housing type in PJ, with over 1,068 of these units transacted in the Petaling region in Q3 of 2019 according to NAPIC. That compares to 1,102 in Q4 of 2018. That makes them the most popular housing type after terraced housing, and ahead of low-cost flats which saw 505 transactions in Q3 2019.
Average condominium prices in Petaling Jaya approximately doubled between 2014 and 2019 according to data from Rahim & Co Research, growing faster than any other property type. The average property price for a PJ condo in 2019 reached RM1.5 million.
The city is home to a number of exciting new apartment complexes currently under development, providing a range of options for buyers looking for Petaling Jaya new condo developments.
There are close to 5,000 condos for sale on PropertyGuru in Petaling Jaya at the time of writing, with an average price psf of RM751. The most expensive condo for sale is a beautiful five-bedroom apartment in Bandar Utama, coming in at an impressive RM4.9 million. One of the most affordable condos for sale in PJ (at the time of writing) is a three-bedroom apartment in Taman Medan 3, with an auction price starting at just RM80,000.
Terrace Houses In Petaling Jaya
Terrace houses are one of the most popular house types in Petaling Jaya. At the time of writing there are over 1,200 terrace house properties listed on PropertyGuru in the area, with an average price psf of RM544. They range from a RM6,000,000 nine-bedroom terraced house in Mutiara Homes to a more affordable RM250,000 property in Kampung Cempaka.
There were 1,256 transactions of properties classed as terraced housing in Petaling in Q3 2019 according to data from NAPIC. The majority of those (1,066 units) were two-storey or two-and-a-half-storey terrace house properties.
Both one-storey and two-storey terrace houses showed gradual price growth between 2014 and 2018, with a small decline in average prices in 2019, according to data from Rahim & Co Research. Average property prices for a one-storey terrace sat at roughly RM600,000 in 2019, and RM1.3 million for a two-storey terrace.
So, whether you’re looking for a beautiful new PJ condo or an affordable slice of Petaling Jaya property, this is a city which offers a huge range of property types for future homeowners of all budgets to explore.
Explore your ideal Petaling Jaya property on PropertyGuru today!
