Kota Kinabalu – Sabah's residential property sector wrapped up 2024 with robust performance, recording its strongest quarterly results in the final stretch, according to the latest Rahim & Co Kota Kinabalu Housing Property Monitor 4Q2024.
The report reveals the state's property transactions surged to 1,583 deals worth RM672.77 million in Q4 – marking 2.73% and 5.76% year-on-year growth in volume and value, respectively. Compared to Q3, the market saw an even more dramatic 40% surge in transactions, signaling renewed buyer confidence.
Affordable Homes Lead the Charge
Breaking down the numbers:
- Budget-friendly units
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- Mid-range properties (RM300K–RM500K) followed closely at 486 deals
- Luxury segment (>RM1M) accounted for 76 high-value sales
"The market's resilience shines through despite economic headwinds," notes Max Sylver Sintia, Rahim & Co's Sabah regional manager. "While buyer sentiment varies across locations and price brackets, demand for well-priced homes remains strong."
Hottest Property Types
- Terraced houses topped sales (600 transactions, RM231.65M)
- Condos/apartments came second (487 deals, RM137.92M)
- Semi-detached homes attracted premium buyers (175 sales, RM114.98M)
The Kota Kinabalu-Penampang-Putatan corridor emerged as Sabah's property hotspot, contributing 52% of total transactions (830 deals worth RM433.18M). Here, condos outsold landed properties – a trend reflecting urban densification.
Price Movements: Where Values Climbed
- 2-storey terraced homes saw 2.57% average price growth, with Ujana Kingfisher leading at 3.08%
- 1-storey terraces appreciated 3.76%, led by Taman Tuan Huat (3.92%)
- Condos posted modest 1.3% gains, with Likas Square (3.6%) outperforming
Rental markets mirrored sales trends:
- Taman Indah Permai rents rose 3.23% to RM1,600/month
- Prime condos like Radiant Tower achieved 4.35% rental growth
The Green-Tech Revolution
Beyond traditional metrics, Sintia highlights a paradigm shift: "Developers and buyers now prioritize sustainability, smart tech, and ESG compliance – factors reshaping Sabah's property landscape."
This aligns with growing demand for:
✔ Energy-efficient designs
✔ Integrated township amenities
✔ Digital property management
2025 Outlook: Cautious Optimism
While global economic uncertainty persists, Sintia anticipates steady growth fueled by:
- Government affordable housing incentives
- Tech-driven property solutions
- Strong domestic demand
"Sabah's market has proven its adaptability," he concludes. "For developers and investors willing to embrace innovation, the opportunities are significant."