PROPERTY SNAPSHOT 1: Kota Kinabalu property prices remain stable

• This week’s spotlight falls on the secondary market for non-landed residences in Kota Kinabalu, Sabah. The area under review spans Kota Kinabalu International Airport to south, Sepanggar port to the north, and includes hotspots such as Lido, Likas, Luyang and Jalan Lintas.
   
• TheEdgeProperty.com’s analysis of transactions shows the average transacted price has been fairly steady since mid-2013, albeit with some quarterly volatility. The average transacted price hit RM340 psf in 1Q2015, +12.7% y-o-y on RM302 psf in 1Q2014, following a 5.7% y-o-y appreciation the year before.
   
• Total transaction volume for the 12 months to 1Q2015 fell 13.8% y-o-y from 672 units to 579 units.
   
• The lull in the market follows a period of appreciation when price growth was surpassed only by Kuala Lumpur and Penang leading to a flurry of development activity. Among the recently and almost-completed projects are Harrington Suites; Imago Mall, The Loft Private Residences and The Residences Sutera Avenue at KK Times Square; Jesselton Residences; Jesselton View; Oceanus Mall; Pelagos Designer Suites; and the Riverson mixed-use development.
   
• Several integrated development projects should boost KK’s profile, including the RM1.8 billion Jesselton Quay waterfront development by SBC Corporation Bhd and the RM1.4 billion KK Convention City by Mah Sing Group Bhd S P Setia Bhd has RM1.8 billion worth of projects planned at Aeropod in Tanjung Aru.
   
• The 2,239km Pan Borneo Highway will link many major cities of Sabah and Sarawak, and construction is expected to commence in 2016.

The Lido hotspot? Here it is. 

The Analytics are based on the data available at the date of publication and may be subject to  revision as and when more data becomes available.