PROPERTY SNAPSHOT 2: What's affordable in Kota Kinabalu?

• Bounded by the South China Sea to the west and the Crocker National Range to the east, land here is scarce. Development in the city comprises mainly high-rises, with landed properties further away. The city’s proximity to Kota Kinabalu International Airport also limits the heights of buildings along flight paths.
   
• TheEdgeProperty.com’s analysis of transactions in the 12 months to 1Q2015 shows the average transacted price of non-landed residences was RM340 psf, while the average transacted price per unit was about RM428,000.
   
• Newer developments are increasingly upmarket, but the secondary market in Kota Kinabalu is still largely affordable. About a third transactions (25.5%) fell in the RM100,001–RM200,000 range and 27.1% in the RM200,001–RM300,000 range; 83.4% were below RM500,000, and just 4% were over RM1 million.
   
• By average price per unit, the most expensive project was The Loft Private Residences at KK Times Square, at RM909,000. Developed by Asian Pac Holdings, the serviced apartment is part of the KK Times Square project, one of the first in a wave of recent high-end, mixed-use developments. Transactions here ranged from RM400,000 (603 sq ft) to RM1,228,500 (1,755 sq ft).
   
• In second place was the waterfront Marina Court Resort Condominium (RM894,000) on Tun Fuad Stephens Road, opposite the new Oceanus Mall. The average price was raised by the sale of three penthouse units for RM1 million, RM1.25 million and RM1.4 million each. Typical 3-bedroom units of about 1,200 sq ft transacted for between RM700,000 – RM778,000.
   
• The most expensive transaction was for a 2,314 sq ft penthouse unit in Puteri Damai Condominium, for RM1.65 million in January last year.

Puteri Damai Condominium data right here.

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.