theSun February January 2017

SABAH

Generally a lacklustre

market in Sabah for 2016

with a slowdown in

transaction activities.

Reasons being softer

market sentiments and

continued strict lending

measures imposed by the

Central Bank and financial

institutions. Still, prices of

properties, even those in

attractive locations have

remained and not declined.

Fewer property

launches were recorded

compared to 2015 –

dominating themarket

were newmid-market

segment condominium

launches. For 2017, this

sector is forecast to have little

change given the expected

challenging economic conditions

and other reasons.

SARAWAK

Property in 2016was sluggish for

Sarawak, rather flat with fewer

launches on the whole except for

certain sub-sectors of stratified

housing launched as part of amixed

development retail-residential

concept. Construction activities

also saw a general slowdownwith

themarket struggling to finish

completing off launched units.

Properties in prime and

attractive locations were reported

to be still in demand despite the

softer market. Prices have also

generally remained and not dipped.

With the slowdown, affordable

housing is and has as before, been

in demand, andwill dowell given

reasonable locations and suitable

house types.

The recent approval by the

Sarawak Planning Authority to

increase development density there

fromeight to 10 units for landed

housing and 24 to 30 units for

stratified housing, is expected to set

the pathway for private developers

to buildmore affordable housing

developments.

The general outlook for 2017 is

reported to be stormy and

unpredictable, with a generally

overbuilt environment, slower

absorption rate, increased

household debt, more stringent

financing situations and increased

costs of businesses and living.

Reduced consumer spending is

expected to crimp demand and

impact the construction and retail

sectors negatively.

However, exceptional areas like

Bintulu andMukah, earmarked

under the 10th and 11thMalaysia

Plan, are expected to spearhead

growth in Sarawak due to the

implementation of mega projects.

FROM

PAGE 21

(2006 to 2025). The region has so far

recorded a cumulative investment

of RM208 billionwith 60% said to

come from local investors. Of the

total investment, 51% is realised on

the ground – the largest contributor

to the committed investments

coming from retail/mixed

development, followed by

manufacturing, then residential.

While the IskandarMalaysia

market was slow in 2016 (due to the

overall global market), Napic

recorded RM10.57 billionworth of

transactions.

The year was reported exciting

for the office sector with themarket

witnessing four office building

transactions valued at RM1.24

billion. Rentals for purpose-built

offices set a newbenchmark in

Iskandar Puteri.

INTERESTED

in learning about

property? Or maybe pick up tips

and tricks on purchasing or

investing in real estate or if it is the

right time to buy or sell, perhaps

just to understand themarket or

current property landscape?

If youwould like to knowmore

about any of these, register and

secure a place at the upcoming

iProperty.comMalaysia Home &

Property Investment Fair.

Held at Mid Valley Exhibition

Centre fromFeb 17 to 19 from 11am

to 9pm, the three-day fair has

much to offer. One such privilege

is to be the first to viewupcoming

property project launches,

especiallywith some of the top

developers participating in this

fair, 40 exhibitors in all.

The exhibition is free and open

to the public. Besides being some

of the first to view exclusive

property launches, visitors can

gain valuable property insights

and tips from renowned industry

experts like Ahyat Ishak, Ishmael

Ho, Gary Chua, Alan Poon, Chris

Tan and others. Theywill also

deliver talks on various property-

related issues and address

industry concerns.

There will also be aMillionaire

ForumbyMastery Asia on Feb 18,

open to only platinumcardholders

of any bank. To join this forum,

just subscribe for a platinumcard

with your bank.

All registered visitors to the fair

will stand a chance towin exciting

prizes via lucky draws that will

run throughout the expo. Prizes

include home appliance products,

AppleWatch Series 1, cash

vouchers andmore.

A special lucky draw session

will be open to property

purchasers on Feb 19. Anyone who

purchases a property at the fair

will have a chance towin round-

trip tickets to Bali for two,

Samsung 50” Smart UHDLED

televisions, gadgets like iPad Pro

32GB and AppleWatch Series 2

andmore. Moreover, be the first

100 visitors to the fair and take

home a plant for free.

There aremany reasons to be

part of this property purchase and

investment fair, so save the dates,

stay tuned to iProperty.comor its

Facebook page for updates and

Homeandproperty

investment fair

PHOTO: WWW.PROPERTYGURU.COM.MY

The hotel sector was said to have

picked up pace due to rapid

development of the Iskandar

Malaysia economic corridor,

additional direct flights connecting

Johor to Asian countries, as well as

more property developments

promoted internationally. The

weakening ringgit was also noted to

have encouragedmore tourism

activities there.

On thewhole, Johor experienced

a general slowdown in terms of

transaction activities and newhigh-

end development products,

particularly in residential sub-

sectors. This has caused developers

to diversify their plans to offer more

affordable products tomeet market

needs.

In the industrial sector, some

MNC companies are reported to be

still exploring and expanding their

investments in IskandarMalaysia.

Sabah.

PHOTO: WWW.PROPERTYGURU.COM.MY

Sarawak.

OVERALL VIEW

Listed below are indications of the recent past and futuremarket outlook across major property sub-sectors and

regional areas inMalaysia. [Retrieved fromCBRE /WTWResearch – Asia Pacific Real EstateMarket Outlook]

Email your feedback and

queries to: propertyqs@

thesundaily.com

Followour property column next week on our series of interesting

articles on the rise of global cities.

All Sectors L.Residential

HRResi

PBOffice ShopOffice Retail

Industrial

Hotel

2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017

MAINMARKET

KlangValley

Penang

PenangIsland

SeberangPerai

IskandarM’sia

KotaKinabalu

Kuching

REGIONAL

WESTMALAYSIA

NorthernRegion

AlorStar

Ipoh

East Coast Region

Kuantan

KotaBaru

K.Terengganu

2016 - 2017MARKETDIRECTION

SouthernRegion

Seremban

Malacca

BatuPahat

EASTMALAYSIA

Sabah

Sandakan

Tawau

LahatDatu

Keningau

Labuan

Sarawak

Sibu

Miri

Bintulu

N.A.

theSun ON FRIDAY

FEBRUARY 10, 2017