Two bungalows in SS2 make the point better than any index. Both have 4,000 square feet of floor area. One sits on 11,360 square feet of land, nine minutes from Taman Paramount LRT, and is asking RM5,000,000, which works out at RM440 per square foot of floor area. The other sits on 4,840 square feet of land, six minutes from the same station, and is asking RM4,850,000, or RM1,002 per square foot.
The first is priced on land. The second is priced on the house and the walk. Neither is wrong, but a buyer comparing them on a per-square-foot basis alone will draw the wrong conclusion, because the two numbers are not measuring the same thing.
The practical lesson for buyers: when a listing quotes psf, check whether it is calculated on floor area or land area, and check the walking distance rather than the straight-line distance. A 1.39 kilometre walk to Taman Bahagia is quoted as 17 minutes. That is a real number and it will affect resale.
