PROPERTY SNAPSHOT 4: What's hot in Kota Kinabalu?

• Analysis by TheEdgeProperty.com shows the average transacted price for non-landed residences on the secondary market was RM340 psf in 1Q2015, +12.7% y-o-y.
   
• Growth in capital values was led by projects in the middle-market segment. The highest relative price growth was at University Condo Apartments 1 on Jalan Sulaman Highway. Average prices here grew 25.4% y-o-y to reach RM334 psf in the 12 months to 1Q2015. Developed by The W Group, the project targets the population of educational institutions nearby such as Universiti Malaysia Sabah, MARA University Technology Malaysia and Kota Kinabalu Polytechnic. Similar projects in the developer’s portfolio include the University Apartments, University Prime Condominium and the upcoming University Utama Condominium.
   
• The highest absolute growth can be found at Alam Damai Condominium, where the average price rose 19% y-o-y to RM561 psf. Located at the edge of Keramat Hill in Damai, this recent completion was developed by Wah Mie Group.
   
• Monthly rental rates as observed in June 2015 from asking rentals are approximately less than RM2.00 psf for mass-market projects and above RM3.00 psf for luxury projects. In general, rental yields are decent, ranging between 4.1% and 7.1%, with the city-wide average rental yield at about 5.6% per annum.
   
• The highest indicative annual rental yields can be found at YYK 1Borneo Condominium. Rental demand here is buoyed by its strategic location right at the edge of the Universiti Malaysia Sabah campus. This condominium sits atop the popular 1Borneo Hypermall. 

This place is hot.

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.