KLCC image - courtesy of Nazarizal Mohammad

Jalan Ampang’s property market in the Year of the Snake

Contributed by Faizul Ridzuan

As we embrace the Year of the Snake—a symbol of transformation and wisdom in Chinese culture—it is fitting to analyse the ever-evolving Jalan Ampang property market through this lens. Much like a snake shedding its skin for renewal, Jalan Ampang continues to evolve in perception, pricing and demand.

Despite its proximity to Kuala Lumpur City Centre (KLCC), this stretch of prime real estate is not a monolithic entity. Rather, it comprises distinct areas with varying property values, transaction volumes  and investment potential.

A common misconception is that Jalan Ampang commands a premium value simply due to its adjacency to KLCC. However, Jalan Ampang is a long arterial road extending from Ampang, Selangor, beyond the Middle Ring Road 2 (MRR2) and passing through several distinct districts before reaching the intersection of Jalan Sultan Ismail.

The area can be broadly segmented into four key zones: Ampang Westside, U-Thant, Kampung (Kg) Berembang and Ampang Hilir. Each of these zones offers a unique proposition. And like a snake adapting to its environment, investors and buyers must navigate the intricacies of these segments to make informed decisions.

U-Thant: The Old Money enclave

U-Thant, often considered the crown jewel of Jalan Ampang, boasts some of the most expensive landed properties, embodying the timeless wisdom of the snake.

This area is home to large bungalows with vast land sizes, often housing embassies and elite residents. However, despite its prestige, transactions in this area remain sluggish, with only 20 recorded sales over the past 2.5 years.

• Median Price for Bungalows: RM13.6mil (RM657 psf for 20,000 sq ft land size average)
• Median Price for Terrace Homes: RM1.63mil (RM591 psf, all in Ampang Hilir)

Buyers in this segment typically prioritise privacy, space and legacy wealth preservation over rapid market liquidity.

Ampang Westside and Ampang Hilir: The middle ground

Ampang Westside and Ampang Hilir serve as transitional zones, balancing old-money prestige with the creeping influence of high-rise developments.

• Ampang Westside: 46 transactions (Median Price: RM989,000, RM814 psf)
• Ampang Hilir: 5 transactions (Median Price: RM1.88mil, RM678 psf)

These areas attract high-net-worth individuals who appreciate proximity to KLCC but prefer a quieter, more residential atmosphere. However, like a snake waiting for the right moment to strike, investors must be patient—transactions remain low and liquidity is a concern.

Kg Berembang: The New Money Enclave

While U-Thant and Ampang Hilir cater to old money, Kg Berembang has emerged as the busiest segment due to its affordability and smaller unit sizes. This area recorded 63 transactions—the highest among the four zones with a median price of RM607K or RM603 psf.

The lower entry price has attracted both investors and homebuyers seeking value within the Jalan Ampang corridor. Despite its higher transaction volume, Kg Berembang is not without challenges:

• The area has the lowest rental yield for older developments (2.41%), though newer developments show more promise (5.05%).
• Heavy reliance on auctions and investment-driven purchases means capital appreciation is not as robust as in other parts of Jalan Ampang.

A sluggish high-rise market

The high-rise segment in Jalan Ampang is struggling compared to KLCC, with only 165 transactions recorded at a median price of RM662,500 (RM631 psf).

This tier-two pricing fails to compete with the premium market of KLCC, where investors often look for stronger rental yields and capital appreciation.

Overall market sentiment

Despite its long-standing reputation, Jalan Ampang faces several challenges:

• Over 90% of properties launched in the last 15 years have lost money.
• Low transaction volume (under 200 transactions), making it highly illiquid above RM800 psf.
• New supply glut suppressing prices.
• Weak Airbnb demand, affecting short-term rental prospects.
• Limited market boosters beyond Gleneagles Hospital.

However, opportunities exist for those who, like the snake, can patiently wait for the right moment to strike.

Opportunities for investors

For those looking to invest in Jalan Ampang, a calculated approach is necessary:

• Cap new property investments at RM900 psf in Ampang Westside, U-Thant and Ampang Hilir.
• Target below RM800 psf in Kg Berembang for better yield potential.
• Anticipate the impact of MRT3, which could serve as a future catalyst for growth in Jalan Ampang Eastside.
• Gated & Guarded landed properties and townhouses remain in undersupply across Jalan Ampang.

Shedding old perceptions

Will the Year of the Snake awaken Jalan Ampang from its prolonged dormancy? The key lies in the performance of KLCC and Bukit Bintang—if their markets rise, the ripple effect will inevitably reach Jalan Ampang.

Jalan Ampang remains a study in contrasts—exclusive high-end neighbourhoods with limited transactions, an active yet more affordable lower-tier segment and a high-rise market that struggles to compete with KLCC.

To navigate this landscape successfully, investors and buyers must channel the snake’s wisdom: adapt to shifting market trends, shed outdated assumptions and strike when the timing is right. With careful strategy and patience, Jalan Ampang can still offer opportunities—but only for those willing to navigate its twists and turns with a keen eye and a steady hand.

Faizul Ridzuan, Founder and chief executive officer of Far Capital

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