Bangi is a town governed under Majlis Perbandaran Kajang (MPKJ) in the district of Ulu Langat. With a population of 4,811 (Department of Statistics Malaysia, 2010), the town is located at the border of Selangor and Negeri Sembilan, where it is cradled by Nilai, Kajang, Cheras and Putrajaya. The town is connected to the north (Tanjung Malim) and south (Negeri Sembilan) by the KTM train system stationed at Pekan Bangi, and the North-south Highway. The town is a combination of commercial, industrial and residential sectors while new developments are inclined towards residential and commercial.
Bangi may not be the largest city in the Selangor state or within the district, however there is a lot of activity here, more than expectations. Besides the fresh supply of dwelling units and shops, remarkable projects such as De Centrum, Southville City, Bangi Avenue and Bangi Gateway are all underway. As it is, other than Giant Hypermarket, Econsave and Kompleks PKNS, which are all geared towards the conventional grocery shopping mall type in fact, there is no mall or commercial center capable of attracting crowds to the city from other districts. This may change with the announcement of new projects by developers like Protasco, Mah Sing Group and KLIA Properties.
Houses in Bangi have maintained at an affordable level for the past three years. However, the increasing trend in transacted prices can be seen easily; the pace was slow but it was steady throughout the analyzed period of time. Houses in Bangi are a mix of freehold and leasehold tenures, and most of the leasehold properties have a remaining tenure of more than 80 years. From the analyzed data of the chosen property type, the number of transactions has increased from 2010 to 2011, then declining to a level similar to 2010. This is unlike many schemes where the price increases but drops in number of transactions. New incoming products have somehow played their role as one of the main factors causing the drop in number of transactions. These new products and their prices are selling not too far away from the existing prices and could qualify as a threat to the sub-sale market. For example, terraced houses in Bangi Avenue with a size of 1,400 sq ft are currently selling at RM428,000 while Bumi units of terraced houses in Zenia-X is selling at RM491,784.
Travelling in and out of Bangi is rather convenient as it is located immediately by a major highway connecting the north and south. However, there is no proposal on a new public transportation system in the city yet, even with University Kebangsaan Malaysia (UKM) and Kolej Universiti Islam Antarabangsa Selangor (KUIS) found within the city. It is believed that with the completion of the new malls, new shops and new houses, Bangi will possibly attract more people from the medium to high income group. Visitors will bring new life into the city and get rid of the public’s negative past impressions towards Bangi. It will be interesting to see how the new developments will change the façade of the city in the coming years.
The analysis and article were produced based on information available to Oregeon Property Consultancy Research Team. We bear no losses or legal liability caused by the information given.
This article was extracted from Homefinder Klang Valley July 2013 Edition.