The median sale at Kota Kinabalu, Sabah, Malaysia is RM 388,000
Kota Kinabalu (KK) is the capital city of Sabah located on the northwest coast of Borneo. Mount Kinabalu, its namesake, lies to its east. Its former name is Jesselton, named after Sir Charles Jessel, who was Vice-Chairman of British North Borneo Company (BNBC) at that time.
Massive destruction of the infrastructure in Jesselton, took place during World War II mainly due to repetitive Allied bombings. Unable to take on the cost of rebuilding, BNBC transferred control of Jesselton to the British Crown under which it was reconstructed and developed as the capital of North Borneo.
In 1967, Jesselton was renamed as Kota Kinabalu, and in February 2000, it gained a city status. Nowadays, its economy is largely driven by industrial, manufacturing and tourism.
By road it is easily accessible via the Tuaran Bypass Road which acts as a ring road connecting KK to surrounding districts and suburbs. The Pan-Borneo Highway passes through all the major towns and cities as it connects Sabah and Sarawak with Brunei. Upgrade works of the Pan-Borneo Highway is currently under progress, with the Sarawakian section expected to be completed by 2023 and the Sabahan section by 2025.
Kota Kinabalu International Airport is there to serve the many travellers and visitors, as by air is the fastest way to enter KK from outside Borneo Island which is the third-largest island in the world and the largest in Asia. Several shuttle buses connecting the airport and the KK city centre are available.
Located merely 8km from KK, is Malaysia's first marine national park--Tunku Abdul Rahman National Park which is formed by an archipelago of five islands, namely Gaya, Sapi, Manukan, Mamutik and Suluk.
The islands have dense tropical forests with hiking trails and clear waters that makes it an excellent place for swimming, diving and snorkelling among coral reefs. This popular recreational spot can be reached via the Jesselton Point Ferry Terminal.
KK is also a prime fishing destination and is well-known for its exciting deep sea fishing expeditions and competitions. Kota Kinabalu Wetland Centre, a protected mangrove forest, is home to local and migratory bird species.
Meanwhile, the Green Connection Aquarium showcases Borneo's aquatic wildlife with opportunities to dive in and feed fishes. Monsopiad Cultural Village shows the traditional Kadazan ethnic lifestyle. The annual KK Jazz Festival takes place in Kota Kinabalu with many international performers.
Other attractions include Tanjung Aru Beach, Likas Bay Beach, City Park with the British North Borneo Memorial, Tun Fuad Stephens Park within which is the Water World theme park, Sabah State Museum, Sabah Islamic Civilisation Museum, Borneo Art Gallery and Kota Kinabalu City Mosque.
Popular shopping areas in KK include 1Borneo Hypermall, KK Times Square, Karamunsing Complex, Oceanus Waterfront Mall, Gaya Street Sunday Market and Handicraft Market. Other recreational facilities are provided by Likas Sports Complex, Sabah Golf & Country Club, Kinabalu Golf Club, Nexus Resort Karambunai Golf Course, Sutera Harbour Golf & Country Club. The Sutera Harbour Marina and Kinabalu Yacht Club offer sailing and yachting activities.
While the Covid-19 pandemic has affected the property market in Kota Kinabalu, demand for affordable housing continues to grow, says Rahim & Co branch manager (Kota Kinabalu) Max Sylver Sintia in presenting the 1Q2020 Kota Kinabalu Housing Property Monitor.
“As the Covid-19 pandemic sweeps across the globe, the outlook for the Kota Kinabalu residential property market is ever more complex. What lies ahead for the property market therefore remains uncertain.
“Prevailing market conditions notwithstanding, demand for affordable houses within established and well-connected suburban areas such as Kepayan, Putatan, Kinarut, Penampang, Inanam and Menggatal will remain strong,” says Max.
According to the National Property Information Centre’s (Napic) preliminary figures, overall transactions and values of properties in Sabah fell in the first quarter of the year. “The number of residential properties transacted in Sabah declined 31.49% from 1,591 transactions in 1Q2019 to 1,090 transactions in 1Q2020. The value of transactions stood at RM379.88 million, a drop of 26.51% year on year (y-o-y) against RM516.91 million registered in 1Q2019,” he says.
Owing to the pandemic, Max sees the property market taking some time before things settle down. “The pandemic added further pressure to the already-shaken consumer sentiment and market confidence amid the prevailing challenging economic environment. Although it is too early to tell how the Kota Kinabalu residential property market is affected by the current situation, the preliminary figures published by Napic indicate that the residential property market in Sabah has slowed down in 1Q2020,” he says. He notes that, in the primary market, property developers are focusing on pushing existing projects while pulling back on new launches. He adds that house buyers are taking a wait-and-see stance because of changes in their spending habits, owing to the pandemic.
In the secondary market, data on properties in areas under this monitor shows that their performance y-o-y has shown growth. Landed properties grew from 2.25% to 8.75% while condos rose from 0.9% to 5%. Max highlights, however, that the pace of growth continues to decline compared with the growth recorded in previous years. “The asking prices of some of the residential properties in the secondary market in Kota Kinabalu are expected to be 10% to 20% lower, which will be a good bargain for investors who have been waiting for the right opportunity and have available funds,” says Max.
|Project / TownShips||Type||Median Price Psf||Median Price||Filed Transactions|
|Melinsung Summer Bay Resort Apartment||Condominium/Apartment,Flat||RM 139||RM 75,613||124 Transactions|
|Cyber City Apartments||Condominium/Apartment||RM 353||RM 186,407||92 Transactions|
|YYK 1Borneo||Condominium/Apartment||RM 354||RM 329,266||62 Transactions|
|Beverly Hills 5||Flat,Condominium/Apartment||RM 324||RM 149,623||61 Transactions|
|Beverly Hills 2||Condominium/Apartment,Flat||RM 234||RM 197,738||59 Transactions|
|Apartment Angkasa||Condominium/Apartment||RM 288||RM 244,333||58 Transactions|
|Beverly Hills 1||Flat,Condominium/Apartment||RM 308||RM 229,466||58 Transactions|
|Cyber City Apartments 2||Condominium/Apartment||RM 387||RM 229,933||52 Transactions|
|Putatan Platinum Apartment||Condominium/Apartment||RM 284||RM 246,545||52 Transactions|
|Surian Residences||Condominium/Apartment||RM 407||RM 486,556||45 Transactions|
|Bedrooms||Sale Price||Monthly Rent||Rental Yield|
|1||RM --||RM --||--|
|2||RM 506,660||RM --||--|
|3||RM 874,116||RM 2,055||2.82%|
|4||RM --||RM --||--|
|5||RM --||RM --||--|
|Sector||Price Psf (Non Landed)||Price Psf (Landed)|
|Area Average||RM 303||RM 206|
|State Average||RM 270||RM 166|