Buying houses in Kota Kinabalu – house buyers’ guide
Sabah, and Kota Kinabalu in particular, is a key area in Malaysia’s developing villa market, with two very different projects leading the way. The Nexus Residence, built along on a 6km beach adjacent to the Nexus Resort, has done much to alert overseas buyers to the attractions of owning a villa in the state.
Since launching sales in October 2005, Nexus has staged exhibitions across Asia and beyond for its Precinct Dillenia phase of semi-detached pool villas (1,275sqft) and condo-style spa villas (927-1,176sqft), which have just been completed. Its efforts are paying off, as almost all of the 80 pool villas and over two-thirds of the 163 spa villas have been sold, with Asia-based expatriates making up a large portion of buyers.
The 99-year leasehold properties are fully furnished and start from about US$450,000 for pool villas and about US$230,000 for spa villas, with a 7 to 7.25 per cent annual rental return for five years and 20 days personal use a year.
However, the attractions around Nexus and in Sabah itself are tempting enough. Villa owners can enjoy the facilities at the neighbouring Nexus Resort, including eight restaurants, swimming pools and the Borneo Spa, as well as the award-winning Karambunai Resorts Golf Club. Nature lovers can enjoy the nearby lagoon, 4,000 hectares of wetlands and the 130 million-year-old rainforest.