This article first appeared in City & Country, The Edge Malaysia Weekly on October 28, 2019 - November 3, 2019

Known as “Jiu Lai” in Cantonese, Cheras was named after the ancient Indian Kingdom of Cheras in South India, according to Wikipedia. One of the main traditional commercial areas in Cheras is Jalan Kaskas, which caters for the residents of Taman Cheras, Taman Desa Aman, Taman Bukit Segar and Taman Supreme, among others.

Parking can be a nightmare with parking bays located along the road or in the vicinity of four-storey flats. The lack of parking space and narrow roads make it difficult for first-time visitors to locate a particular shop or address.

On a positive note, the great thing about the area is the food. Located on the ground floor of a block of the flats is Restaurant Cosy Corner, which is famous for its Lam Mee (Chinese noodles in a starchy thick broth), a favourite of mine. The gravy is neither too thick nor diluted, and the noodles are smooth and done to perfection.

On top of that, one can order several pieces of yong tau foo (a Hakka Chinese dish that consists of mainly tofu stuffed with a paste of fish and ground pork), either deep-fried or with soup. A popular item is the deep-fried turnip filled wrap. The restaurant also serves prawn mee and curry laksa.

Another must-try is the pork noodles at Restoran Kui Lam in Taman Cheras, which is only four minutes’ walk from Restaurant Cosy Corner. The pork noodle, available in soup or dry versions, comes with ingredients such as minced pork, meat balls, intestine and liver. Customers can add an egg, vegetables or deep-fried lard for RM1.

According to Laurelcap Sdn Bhd executive director Stanley Toh, the area comprises mainly two-storey shophouses, flats, two-storey terraced houses and six-storey shopoffices.

“The two-storey shophouses, with built-ups of 1,750 sq ft, are going for RM650 to RM900 psf, with yields of 5% to 5.5% per annum,” he says. The asking rental rates for shophouses in Taman Cheras range from RM3.30 to RM3.60 psf.

The flats and two-storey terraced houses, which have built-ups of 807 sq ft and 1,500 sq ft respectively, can fetch RM220 to RM580 psf, with yields of 2.5% to 5% per annum. Rental rates for the flats range from RM1 to RM1.30 psf and for the terraced houses, RM1.20 to RM1.50 psf.

Prices for the flats were relatively stable from 2015 to 2019 at between RM200 and RM300 psf. The highest price of above RM300 psf was achieved in the fourth quarter of 2018, while the lowest of RM200 psf was recorded in early 2015.

Transacted prices of terraced houses were more than RM600 psf in 2014, 2016 and 2017. In 2015, it was only RM400 psf, due to reduced demand in a sluggish market.

Toh says the six-storey shopffices in the Cheras Business Centre, which have built-ups of 570 to 1,689 sq ft per floor, are transacted at RM250 to RM580 psf, with yields of 4% to 5.5% per annum. Rental rates are from RM1.30 to RM2 psf.

“Prices [of shopoffices] were about RM213 psf in 2014 and surged to RM500 psf in 2015. Thereafter, they were stable in the range of RM480 to RM500 psf until this year. The stagnant and lower prices are due to reduced demand, a consequence of the sluggish market,” Toh adds.

Jalan Kaskas is in a strategic location and easily accessible via Middle Ring Road 2 (MRR2) and adjacent residential areas. Nearamenities include EkoCheras Mall, Cheras Leisure Mall, Taman Mutiara MRT station, Pantai Hospital Cheras and UCSI University.

Several upcoming projects in the vicinity — including Rumbia Residences @ Ari Permaisuri Dwitasik Sdn Bhd, The Holmes 2 Aset Kayamas Sdn Bhd, Majestic Maxim Maxim Holdings Sdn Bhd and M Vertica Mah Sing Group Bhd — are due for completion in 2021.

Toh and CCO & Associates (KL) Sdn Bhd director Chan Wai Seen say property prices have been relatively stable, with limited transactions and hardly any speculative activities. “Hence, the properties are less vulnerable to the economic recession or global uncertainties. Prices of these properties will trend upwards in the medium to long term,” says Chan.

“The lack of maintenance of the old buildings, lack of parking spaces and narrow roads are the main issues in the area,” he adds. “Nevertheless, land scarcity and increasing land cost in the city areas have made Jalan Kaskas attractive. The shopoffices have a high occupancy rate, with banks and well-known food and beverage outlets among the businesses operating in the area,” concludes Chan.

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