Post date: Apr 28, 2014 12:59:10 PM
The Edge on 26th August reported that the growing demand for commercial bungalows has pushed prices up with the rental rates also on an upward trend in tandem with capital appreciation in the Klang Valley. The commercial bungalows are mostly located in Petaling Jaya, the popular suburb of Bangsar and Kuala Lumpur city. The permitted limited commercial bungalows areas in Petaling Jaya include certain parts of Jalan Selangor, Jalan Othman, Jalan Penchala, Jalan 20/7, Jalan 21/1, Jalan SS2/24, Jalan Universiti, Jalan Utara and Jalan Timur. The whole stretch of bungalows in Lorong Utara, Jalan Kemajuan, Jalan Pasar, Jalan Datuk Abu Bakar and Jalan Gasing are commercial zones. Meanwhile, Jalan Maarof and certain parts of Lorong Maarof in Bangsar are limited commercial bungalows areas. The limited commercial bungalows in Kuala Lumpur city are centred at Jalan Kemuning, Jalan Inai (off Jalan Imbi) and Jalan Ampang.
In 2003, as part of planning control, the local authorities proposed to rezone bungalows in certain areas of Petaling Jaya and Kuala Lumpur for limited commercial use. The units had to front a main road and the owners were required to renew their permits on a year-to-year basis. The businesses also could not affect the residents in the area or create commercial waste, noise and traffic. The facades of the commercial bungalows had to be neat and harmonize with the neighbouring houses as well while the businesses were restricted to art galleries, showrooms (except for cars), agency firms (including travel, marketing and advertising) and professional services such as law, accounting, consultancy, engineering, planning, architecture, and interior design.
Tenants with high-end businesses prefer to establish themselves in areas such as Jalan Maarof in Bangsar and in the vicinity of Kuala Lumpur city while businesses targeting middle to high-income households choose to be located in Petaling Jaya such as SS2, Jalan Kemajuan, Jalan Gasing and Jalan Universiti. While 2-storey bungalows in Petaling Jaya have garnered good demand (compared to the single storey types), the local council has imposed restrictions on the expansion of the existing built-up of such properties. Bungalows with land sizes from 5,000 sq ft to 15,000 sq ft are more popular. The projected price growth is 7% to 10% per annum, depending on the location. After the successful urban renewal of Section 13 in Petaling Jaya, there are now plans for a facelift in its other prominent areas, namely Sections 12, 14 and 17.
Sep 4, 2013