According to FreeMalaysiaToday (FMT), in terms of residential properties, Klang remained the most active market in Selangor for the first half of this year (H1 2021), followed by Puchong, Kajang, Shah Alam, and Cheras, in that order. Not to forget, Klang also surpassed Ipoh as the most transacted area in Malaysia for residential properties during the same period, with 485 sales, trailing only Ipoh’s 527 transactions. Could it be because of the port at the Port Klang?
Port Klang is a municipality in Malaysia that serves as the country’s primary seaport. Port Klang, originally known as Port Swettenham but renamed Port Klang in July 1972, is the country’s busiest port and the largest in Southeast Asia. It lies around 6 kilometres southwest of the town of Klang and 38 kilometres southwest of the city of Kuala Lumpur in Malaysia.
With a 40.15 percent increase in media prices, Puchong demonstrated the most significant shift in the market. Cheras, which is a district of both Kuala Lumpur and Hulu Langat, continued to be the most heavily transacted location in the city in the first half of the year and ranked fifth in Selangor, despite being a district of both cities.
Since the first quarter of 2019, Klang has continuously ranked as the most transacted area in Selangor, and it has made a yearly appearance in the top five most transacted areas in the country for the past five years.
The density of the state’s population may be one of the most important elements influencing real estate transactions in the state. After ranking fourth in terms of population density in the 2010 national census, Klang is one of the country’s oldest and most populous cities. It is also one of its oldest and most populous cities.
Another important element, despite the city’s maturity and accessibility, is likely to be the relatively low housing prices. The very slight change in Klang’s median pricing, which went from RM350,000 in the first half of this year to RM400,000 in the first half of 2021, indicates that homebuyers are increasingly looking for lower-priced properties in the vicinity.
The completion of LRT 3 sooner in the year of 2024 will be expected to further boost Klang productivity and accessibilities. Of the 26 stations along the LRT 3 line, 13 have the potential for future Transit Oriented Development and will service the booming townships of Bukit Raja and Bukit Tinggi, among others. Visit EdgeProp to check out property in Port Klang right now.
It is likewise impossible to overstate the strategic significance of Port Klang’s location. During the pandemic, there was an increase in the demand for industrial properties and e-commerce, raising the question of whether residential property sales in Klang were driven by economic reasons and employment possibilities or not.