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Positive Growth Recorded in
Property Sector for Sabah’s Capital
Central Kota Kinabalu City. Photo by All 4 One Productions.
Southern Corridor of Kota Kinabalu City. Photo by All 4 One Productions.
Although property prices continued
their upward climb in Kota Kinabalu
(KK) in 3Q2013, the growth rate has
been decelerating a trend that has
been observed since the start of
2013.
Sentiment varied between cautious
and buoyant in the period between
the 2013 general election and the
announcement of Budget 2014, says
Sulaiman Saheh, director of Rahim &
Co Research, in presenting.
average y-o-y growth of 7.36%.
However, q-o-q, the pace dropped
by 0.4% from the 3.93% recorded in
2Q2013.
occupy the homes and investors
who aim for capital appreciation.
Areas to watch out for include
Putatan, Lok Kawi, Kinarut,
Menggatal, Inanam and Tuaran
In Putatan, 2-storey terraced houses
in Taman Desa Ketiau, priced at
RM427,000, recorded strong sales.
The second phase has yet to be
launched.
Slower growth was observed on a
y-o-y basis. Condominiums recorded
an average y-o-y growth of 7.79% in
3Q2013 compared with 10.01% in
3Q2012, indicating a slower pace of
2.22%.
NEW LAUNCHES
DEMAND FOR HOMES TO REMAIN
STRONG
Demand for houses in the suburbs
of KK remains strong despite the
higher prices, says Max Sylver Sintia,
branch manager of Rahim & Co
Sabah.
“Though the starting price was
rumoured to be around RM440,000,
we anticipate further success in
sales performance despite prices
being slightly higher than [similar]
existing houses within the area,”
says Sintia. The upgrading of the
Petagas-Lok Kali highway into a
three-lane carriageway will spur
further growth, he adds.
According to Sulaiman, 2-storey
terraced houses recorded an
Demand, he says, is driven both
by genuine buyers who intend to
Meanwhile, Desa Height Residences,
comprising two blocks of 15-storey
While most of the properties
sampled continued to record
positive growth year on year, growth
was slower quarter on quarter..
40
www.PropertyHunter.com.my
condominiums, is set to be launched
in early 2014 in the Ketiau precinct,
also in the Putatan district.
According to Sintia, this
development will offer 528 units at
prices starting from RM320,000 for
a 980 sq ft unit (RM326 per sq ft)
and RM340,000 for a 1,040 sq ft unit
(RM363 per sq ft), effectively setting
a new benchmark in the Putatan
area.
Another condominium development
in KK, Bay 21 TOO, will also be
launched soon. Offering 286 units
ranging from 395 to 1,800 sq ft,
indicative selling prices range from
RM680 to RM700 per sq ft.
All units will be pre-installed with
built-in cabinets, light fittings, air
conditioners, fully-fitted bathroom
and a pantry with a sink, built-in