HOT TOPIC | SHAREDA 2014 Property Development Annual Report & Market Outlook 2015
Similar to residential properties,
commercial developments are also
moving further away from the city
centre and are concentrated within
20 - 30km distance from the city
in areas such as Tuaran and Papar
thoughthere were two significant
launches near the CBD namely
Donggongon Avenue and T1@
Bundusan, located in Penampang.
After many notable projects like
Imago Mall @ KK Times Square,
Oceanus Waterfront Mall @ KK
Waterfront, RiversonWalk, and
PacifiCity in Likas Bay that took
place in the heart of the city, most
of the upcoming developments will
befocusing in suburban areas within
18km radius from the city centre.
LANDED PROPERTIES
STILL POPULAR IN
THE WEST COAST
DESPITE PRICE INCREASE
Landed residential property remained the preferred product in Kota Kinabalu’s
property market. However, property developments continued to move further
towards the outskirts with Tuaran, Inanam and Papar posting the largest number
of project launches in 2014. Of these three districts, the selling price for houses in
Inanam was higher asit is much closer to the CBD while developments 20 - 30km
further away carried an average price tag of RM250 – RM295 psf which is still within
the affordable range.
T
he significant drop
for this year’s GDV
(RM278,000,000)
compared to last year’s
GDV (RM830,878,000)
was mirrored by a drop from 22
projects launched in 2013 compared
to only 10 projects in 2014. The
affordable price for an intermediate
single and double storey terrace
ranged from RM279,194 to
RM288,800 with floor areas of
952sq.ft to 1,024 sq.ft. For the
medium costing range double storey
terrace houses, the prices went
from RM338,800 to RM489,338 with
floor areas of 1,024 sq.ft to 1,616
sq.ft. The upper and more luxurious
landed properties located closer to
Kota Kinabalu and its vicinity had
considerably higher selling prices.
The sharp decrease of 72% in
supply and increase in prices of
landed residential houses of up
to RM550,000 - RM750,000 for a
double storey house was attributed
to rising land cost within 20km
of the city centre. Double storey
developments such as in Kinarut
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and Tuaran which is located some
30km away from the city centre
boasted good sales performance,
proving that the affordable range
of landed housing of not more than
RM300 psf can now only be found in
the suburban areas. Even localities
within 16km of the city centre such
as Inanam was selling at RM405psf
which pointed to the undeniable
fact that Kota Kinabalu’s growth area
is fast establishing itself within the
northern corridor.
Secondary sub sales market for
double storey houses will continue
to be active with limited landed
houses from the primary market
and developer preference for
vertical stratified apartment or
condominium projects due to higher
return of investment in terms of
density gain.
Condominium and apartment
development projects have been
developed in suburban areas such
as Sepanggar with a price range
of RM325 – RM368 psffor a built
up area of 958 sf - 1,112 sf, and in
The GDV for commercial
developments was only RM430.6
million compared to tEb