Sutera Avenue, Airbnb Ready
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Airbnb has been the talk of the town recently and it is mushrooming all over Kota Kinabalu, in both commercial and residential properties. To date, Kota Kinabalu ranks 6th in the world in the Airbnb platform.
The tourism industry has moved up as the Top Revenue Earner to the State of Sabah with its Nature and Cultural diversity as its main attraction in 2017. The total tourist arrivals to Sabah from January to December 2016 was registered as 3,427,908 (an average of 9,365 per day), contributing to RM7.25 billion to the State economy.
Today, Kota Kinabalu is serviced by 5 Chinese carriers, 2 Malaysian carriers and other airlines. The influx of tourist arrivals has brought up one question. Can the hotel industries cope with the influx of tourists?
Speaking at an Airbnb Investment Presentation in Pacific Sutera Hotel this morning (18 November), Chartered Surveyor of Taylor Hobbs, Sr Liaw Lam Thye said that research shows that Sabah needs 10,000 rooms a day to house the tourists.
When asked, he said that at present, the places which are legally able to run Airbnb are Riverson Soho, Bay 21 (first to eight floors ONLY) and SOVO @ Aeropod. Sutera Avenue also allows short term rental stays for Towers 1 and 3. Tower 2, however, is being sold as a residential unit where Airbnb is running an Airbnb is not permitted.
"Sutera Avenue will be the first development to include a clause in the Sales and Purchase Agreement (SPA), allowing buyers of Towers 1 and 3 to run Airbnb" says Sr Liaw.
"DBKK is in the midst of drafting up a regulation for operating Airbnb. Once the regulation is out, Airbnb operators may need to apply for a license from DBKK to run their Airbnb units" he said before adding that the regulation is hopefully expected to be out early next year.
Sutera Avenue also boasts superb location, a prime address in the most vibrant hotspot in Kota Kinabalu, along a major coastal highway with a direct link to Kota Kinabalu International Airport (3.9km) and to the heart of Kota Kinabalu City (3km).
Airbnb is a property investment breakthrough when you play your cards right. According to Sr Liaw, an average nett monthly income of RM4,000 can be achieved if one rents out their unit for 21 â€“ 30 days consecutively.
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