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Sayang Sabah - The voice of Sabahans

SHAREDA market outlook

President of SHAREDA, Datuk Francis Goh Fah Sun (right) handling the Property Development Annual Report & Market Outlook 2015 booklet to the participant (middle), Vice President of SHAREDA,   Dato' Ir. John Chee Shi Tong (left)
President of SHAREDA, Datuk Francis Goh Fah Sun (right) handling the Property Development Annual Report & Market Outlook 2015 booklet to the participant (middle), Vice President of SHAREDA, Dato’ Ir. John Chee Shi Tong (left)


KOTA KINABALU – SHAREDA is positive about the property development for 2015 despite last year’s slump.

SHAREDA president Datuk Francis Goh said certain factors had contributed to the slump of property launched in 2014 including kidnappings by terrorists and the infamous flight disasters which ensued in the drop of tourists arrivals in Sabah.

Meanwhile, electrical tariffs and fuel price hike as well as stringent bank loan policies refrained developers from launching more of their products.

SHAREDA Property Research Unit is absolute that Sabah Property Development Market would surge up in this upcoming year although there would be 6% of GST implementation on sales price of all commercial properties.

This is due to the government support and self-adjustment by property developers in assessing market risks.

Goh said other sectors like property development, residential, leisure property and affordable housing are anticipated to be active and robust again due to Budget 2015 announced by Malaysia Prime Minister, Datuk Seri Najib Tun Razak, as it focused on easing the financial burden of the people in tandem with the efforts to grow the national economy.

Budget 2015 allocates a total of RM 273.9 billion, of which RM223.4 billion is for operating expenditure and RM 50.5 billion for development expenditure,” Najib stated.

SHAREDA also lauded the government for helping youths and first time house buyers with the Youth Housing Scheme (YHS) and 1Prima Housing (1PH). RM 1.3 bil was allocated to build 80,000 units of Prima Houses in this year following the Budget 2015 list that presented in addressing the issue of home ownership at affordable prices.

YHS would also be providing special loan package to 20,000 for first time house buyers from newly married couples based on the list of Budget 2015. YHS is a smart partnership between the Government, Bank Simpanan Nasional, Employees Provident Fund and Cagarmas Bhd.

A Rent-To-Own Scheme will also be introduced specifically for individuals who are unable to obtain bank finance and JPN or National Housing Department. Some 26,000 units of houses are expected to be built under the People’s Housing Programme (PPR) with an allocation of RM 644 million as announced in the Budget 2015.

Also in the budget is Syarikat Perumahan Negara Berhad to build 12,000 of “Rumah Mesra Rakyat” and 5,000 units of “Rumah Idaman Rakyat” and also 20,000 units of “Rumah Aspirasi Rakyat” on privately owned land.

SHAREDA-MLGH affordable housing programme would also be launched in this year. Apartments will be sited in Tuaran, Telipok and Tawau. Meanwhile, single storey terrace will be in the region of Lahad Datu, Kota Marudu, Beaufort and Tawau. However, condominium will only be available in Inanam.

Private Development initiated by SHAREDA members that included leisure properties hit RM 7.140 bil of GDV total. The private market in this year is expected to be vibrant in view of several mega mixed development and already advertised for preview at the end of 2014.

The development projects to be launched by SHAREDA members in east coast, Sandakan, Kudat and interior region are yet to be confirmed, but they had assumed RM 1.006 bil cost on GDV based on last year GDV.- By Saila Saidie/Sayangsabah.



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