Real Estate Hotspots in Kota Kinabalu | EdgeProp.my
Where are the best addresses in Kota Kinabalu (KK)?
At the top of the list for KK-based IQI Realty, Abby Tan, an EdgeProp.my PRO agent, are Luyang and Likas, chosen for their proximity to the city center.
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Luyang is home to some of the oldest and most established neighborhoods in KK. It is also very accessible to the Great KK of Penampang, a growing development which is also becoming a popular place for people at home.
Likas, although located on the outskirts of the city center, is very accessible to the city center via the coastal road from Jalan Tun Fuad Stephen. This sub-district of KK is home to some of the state administrative offices as well as the office of the chief minister.
Interestingly, Likas has also evolved into an educational hub, populated by institutions such as Universiti Malaysia Sabah, Universiti Teknologi MARA KK, Politeknik KK, and Tunku Abdul Rahman University College.
While real estate remains a favorite in KK, growing land scarcity and population growth in the city center are driving increased interest in high-rise buildings at more affordable prices.
CH Williams Talhar & Wong (Sabah) manager Cornelius Koh said high-rise buildings offering a modern lifestyle have gained increasing acceptance over the past 10 to 15 years.
Rising property prices and poor public transport in the districts are other factors driving this trend. In addition, gated and guarded high-rise homes also offer enhanced safety and security features.
Challenges and opportunities
For cost reasons, new land developments are moving away from KK city center, opening up more opportunities in the areas bordering KK.
“Penampang and Putatan have seen a surge in residential developments in recent years with prices rising. However, the preference still seems to favor KK, especially in the Luyang and Likas regions, ”Koh says.
Chen of Knight Frank says that developments beyond KK are difficult for developers due to its lack of core infrastructure developments. So, Chen says, property buyers tend to head either south to Papar or north to Tuaran as they offer better infrastructure development and accessibility to KK.
New launches in recent months include the City Residence affordable housing project in Alam Mesra; Sky Million Residence and Eco Peak Residence in Donggongon, KK328 in Kelombong and Plaza Legasi @ Sulaman in downtown KK.
This story first appeared in the EdgeProp.my E-weekly of April 23, 2021. You can access back issues here.
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