PropNex, Photo Credit to PropNex
clock 23-08-2022
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Residential Sub-Sector Dominates Sabah Real Estate Industry

The National Property Information Centre (NAPIC)  in their report of 2021 stated that, “The residential sub-sector remains the most dominant sub-sector in all regions. Each state in East Malaysia had double-digit transactional growth in 2021 and Sabah showed an increase of 64.3% in transactional values. This trend appears to flow into 2022 and PropNex Sabah has met success serving the residential sector.




PropNex Malaysia team




Focusing on serving the Residential sector, the reported most dominant sub-sector of Sabah’s real estate industry has paid off for PropNex Sabah. For the second year running PropNex Sabah has been awarded the Best Real Estate Agency for the Residential Sector by the Malaysian Institute of Estate Agents (MIEA). The National Real Estate Awards (NREA) gala dinner for the Awards ceremony was conducted in a leading hotel in Petaling Jaya recently.  MIEA in their awards brief stated that, “These awards by MIEA recognises the luminaries among real estate agents, negotiators and practitioners. These awards set new standards for professionalism.”







In reflecting on their journey to this success, Stephon Chong, Agency Leader of PropNex Sabah recounted, “We as RENs (Real Estate Negotiator) get real satisfaction when we succeed in helping our customers satisfy their basic need of having a roof over their heads. This gets compounded when it is their dream home found for their family to enjoy in years to come. On the sell side, we are pleased to be of service to a  motivated seller in need of disposing his asset to sustain his or her business due to challenges from for example the Covid 19 pandemic. We were gratefully able to match quite a few of this combination lately and we look forward to continuing to be useful conduits for these transactions!”



PropNex Sabah is delighted as  PropNexian Ms Bonnie Hong has again bagged the coveted title of REN (Real Estate Negotiator) of the Year for Sabah. Bonnie shared that “Honesty and integrity is a must in this career. Positivity and self-motivation must be second nature to achieve our goals."





Bonnie Hong receiving the REN (Real Estate Negotiator) of the Year for Sabah




Asked about their formula for consecutively winning Awards, Agency Leader, Philomena Chai remarked, “we have a robust and sustainable unique selling proposition (USP) at PropNex Sabah. We have been running our agency consistently emphasising that we are professional, honest, embrace technology and have a corporate culture of Teamwork. Our USP leads to higher productivity and greater chance of success. There are elements in the PropNex model that seem tedious (many training sessions) but we are to view the same as strengths. It is an effort to keep our USP but we will persist and results are showing.”



In the meantime, the National Property Information Centre’s (Napic) property market snapshot for the first quarter of this year (Q1 2022) shows residential overhang has dropped marginally to 35,592 units valued at RM22.45 billion. Last year, the volume of residential overhang reached an all-time-high of 36,863 units valued at RM22.79 billion.




*Photo credits go to PropNex Sabah






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