The Best of Section 5, Petaling Jaya
Section 5, one of the older residential areas of Petaling Jaya was developed in 1963 by Lee Fah Sung and Petaling Garden Bhd. It was also one of the first township in Petaling Jaya with only 9 houses per hectares which consisted of bungalow houses, semi-detached and linked houses only (accordance to PJ city council councillor of Section 5).
Now, in Section 5 neighbourhoods had
grown mature with many bungalows, semi-detached, linked houses and hi-rise
condominiums. It’s strategically located with easy access via
The demand is still strong after more than 40 years. “Section 5 is one of the most active residential areas in Petaling Jaya. The market value of the properties has held steady over the years, even during the worst of the recession. Prices are climbing; last year, a bungalows of 4000 to 8000sf were selling at around RM130psf. Now, they can fetch RM150psf,” says Vincent Ng, CEO of Kim Realty. For a good renovated bungalow house it was sold for RM200psf.
The Director of Metro Homes, See Kok Loong says “Though the value is increasing at a slower pace…the yearly increase of 5% to 10% in prices makes Section 5 a good investment.” See also added “the houses here sit on large parcels of land at a “good” price, something that is hard to come by these days. However, the most important factor remains the location.”
The above summary is excerpted from
City & Country, The Edge