Located near the southern tip of Selangor, Cyberjaya was a launched in 1997 with the mission of creating an IT-forward township which would become the core to Malaysia’s Multimedia Super Corridor. Well enough, it has lived up to its expectations thus far whereby at present, it houses headquarters of many big players in the technological industry such as IBM, Ericsson, Shell, BMW and Dell amongst many others as well as reputable Malaysian universities such as Multimedia University and Lim Kok Wing University.
With the great industrial growth of Cyberjaya paired with its attraction as an education hub that has accelerated over the past decade, is it a good location to invest in property?
Interestingly, the majority of the working public in Cyberjaya do not live in Cyberjaya itself. The reason is simple. Cyberjaya simply is what it is; a place to work and to study and nothing more. While there are parks and a few sports centres in Cyberjaya, the town has nothing much to offer in the form of recreation. Apart from that, property prices in Cyberjaya are incredibly high compared to nearby regions such as Puchong, Seri Kembangan and Dengkil whereby prices start at about RM300,000 for a 3-room apartment in Cyberia Smarthomes.
Landed property is a rare sight in Cyberjaya and the many apartments and condominiums in the area are mostly inhabited by renting students whereby the most popular residential area is the Cyberia Smarthomes which consists of many apartment blocks and several rows of townhouses. This is usually the number one choice among students due to its location which is conveniently within walking distance to Multimedia University. Its rental rates are also relatively affordable by Cyberjaya standards. This makes property in Cyberia Smarthomes a good investment because there will always be a demand in terms of tenancy especially among the constantly available population of students.
For an apartment that costs around RM300,000 to RM400,000, the rental return ranges from about RM1000-RM1500. Of course, these prices may inflate considering how Cyberjaya is still experiencing growth as we speak.
While Cyberia Smarthomes remains the top choice in accommodation for those who live in Cyberjaya, there are a number of alternatives as well such as Neo Domain residencies which also include an array of condominiums and townhouses. However, these residences lack the location appeal of Cyberia Smarthomes and are generally more expensive. They are basically upscale property which usually caters to the more well to do but in Cyberjaya where the working public itself is not so keen in residing near their workplace, these residencies sell poorly and will not rent out as easily as well.
The future of Cyberjaya as a bustling township is hard to predict. As of now, it is just a hub for career and education and has not proven to be the most hospitable of towns in Selangor. However, many big corporations are still establishing bases in Cyberjaya which may introduce more people into the town and on top of that; property development in Cyberjaya is aplenty.
Among the properties currently in development are D’Pulze, Serin Residency, SOHO @ Selangor Science Park and Symphony Hills. The development approach is generally high end and with Cyberjaya being a relatively barren place compared to busier towns which are just 20-30 minutes away such as PJ and Kuala Lumpur, it is hard to predict how these projects will fare in the future although one selling point could be the fact that Kuala Lumpur is less than 30 minutes away from Cyberjaya by car thanks to the new Maju Expressway. This may draw working public from Malaysia’s city centre although only time will tell if that will work out for the future of this town as a place to reside in.