Borneo Post, Photo Credit to Borneo Post
clock 19-06-2018
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Developers Awaiting New Government's Housing Policy Announcements

Sabah property developers and investors have put property launches on hold pending the new government's housing policy announcements after the 14th general election (GE14).

The Sabah Housing and Real Estate Developers Association (SHAREDA) president Chew Sang Hai said the housing market had gone quiet with no new property launches this year thus far.

"Developers are currently still selling old stocks" he said in an interview on Monday, 18 June.

He said property developers had initially speculated that the market would rebound after the May election.

However, the GE14 saw the change in government both at the federal and state levels.

"The new government may roll out new policies.

"Hence, developers, buyers and investors have adopted a wait-and-see attitude, pending new policies or regulations that may be introduced by the new administration.”

He said the ‘old stocks' in the market could hardly lure the interest of investors.

Chew said investors usually zeroed in on new project launches to take advantage of early bird prices that allowed them to earn more profit when the development was completed.

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