Buyers are moving across KL region to take advantage of Old Klang Road's central location and rapid transformation into an integrated township.
The long stretch of concrete known as Old Klang Road or Jalan Klang Lama is one of the most significant roads ever constructed in the Klang valley. Since 1959, Old Klang Road has been an important route for transport and communication.
Greater KL is expected to be the home of up to 10 million people by 2020. This means more businesses and more job opportunities in the Klang valley. Current estimates put the population density at more than 7 million. Old Klang Road is strategically located in the centre of KL, connected by 4 major highways:
1) Federal Highway (to Shah Alam and Klang)
2) New Pantai Express (to Sunway, Petaling Jaya and Bangsar)
4) Jalan Syed Putra (to KL City Centre)
5) East-West Link (to Cheras and Kajang)
People are buying into Old Klang Road for easy accessibility to anywhere in KL and take advantage of its upcoming development.
“Old Klang Road has a good proportion of commercial and residential catchmen areas. Both commercial and residential developments are able to complement each other with sufficient of schools, banks and amenities to cater for the residents,” said Hartamas Real Estate (OUG) team manager Janet Chong.
Based on EdgeProp's data, between 2012 and 2016, the average transacted price psf for non-landed homes in Old Klang Road has seen a compound annual growth rate of 14%.
While many nearby regions in KL have experienced price drop in recent years, the well connected roads and ecosystem of well known public schools have safeguarded Old Klang Road's property market. The fact that it is only 6 mins away from Mid Valley Megamall is also one of the reasons many residents will not move anywhere else.
Significant landmark like the Old Klang Road Wet Market is also a huge attraction point for residents wanting that convenience.
Growth on the horizon
The prospect of better transportation to the upcoming Mass Rapid Transit (MRT) 2 line, via the Kuchai Lama station, will help further transform Old Klang Road into a major township and help with its property values.
Source:
https://www.iqiglobal.com/blog/why-you-should-buy-property-old-klang-road/
http://propertyinsight.com.my/area-focus/old-klang-road-revived/
https://www.edgeprop.my/content/1231287/vigorous-old-klang-road
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