(From left) Dr. Tan, Barapui, Dr. Ngui and Sim having a photo session after the press conference to inform the public about Sheda Kuching branch’s 3rd Home and Property Roadshow 2016 at Sheda’s office yesterday.
KUCHING: The property market in Sarawak still has room to grow, supported by steady demand for houses despite the lacklustre sentiment for the sector.
Sarawak Housing and Real Estate Developers’ Association (Sheda) Kuching branch chairman Dr. Christopher Ngui believed the property market is holding up steadily despite the challenging economic environment.
“The property market is still active. Property sales (in terms of amount) remains encouraging although the take up is slightly less.
“Buyers especially genuine buyers are still there,” he told the media during a press conference yesterday.
He believed those who are planning to buy a house or residential unit in particular first time house buyers will continue to provide the demand and support for the property market.
Additionally, Sheda Kuching branch treasurer Dr. Richard Tan opined that the increase for the public servants’ housing loan eligibility from between RM120,000 and RM600,000 to between RM200,000 and RM750,000 from Budget 2017 will encourage more government servants to own houses and thus stimulate the property market.
Nonetheless, the property market encountered a slight slowdown recently due to the difficulties by housebuyers in obtaining financing as financial institutions tightened their lending or loan approvals to curb speculative activities on the property market.
Meanwhile, Sheda Kuching branch is organising its third property roadshow at Boulevard Shopping Mall this coming Friday to Sunday on November 11-13 from 10 am to 9 pm.
Organising chairman Barapui Balangalibun said the property roadshow is an opportunity for potential first time housebuyers to meet with developers to discuss their needs and preferences with them.
“The property roadshow is an opportunity for first time housebuyers to meet face-to-face with top property developers and related industry players marketing their products and services at the event.
“Potential house buyers can also expect special promotions and offers since the 3rd Sheda Kuching Branch Home and Property Roadshow 2016 will be the final of its kind in Kuching this year.
“(Besides), potential buyers will get a chance to win exciting prizes in the ‘Buy and Win’ Lucky Draw.
“The 3rd Sheda Kuching Branch Home and Property Roadshow 2016 does not focus solely on property but also complimentary trades including security systems, flooring and et cetera,” he said.
Minister of Local Goverment Datuk Dr. Sim Kui Hian has been invited to grace the event.
Barapui added the association has also invited non-government organisations (NGOs) to participate at the event as part of their corporate social responsibility (CSR) programme.
He noted the NGOs involved are Association for the Welfare of Intellectual Disable Children (Perkata) and Sarawak Society for the Blind.
On another note, Barapui clarified that the Kuching Traditional and Holistic Natural Medicine Association will no longer be conducting free medical check-ups at the roadshow due to some unforseen circumstances.
Apart from that, he said there will be some activities especially for children such as clouring contest which is divided into two categories; seven to nine and 10 to 12 which will be held on Sunday, November 13.
Moreover, Sheda Kuching branch advisor Sim Kiang Chiok believed the property roadshow presented an opportunity for first time housebuyers to shop and survey for residential units while awaiting to enjoy the incentives announced from Budget 2017.
He opined by the time the process and procedures to own a unit of residential property is finalised possibly next year, potential housebuyers will be able to enjoy the benefits.
During Budget 2017 as tabled by Prime Minister Datuk Seri Najib Tun Razak last October, he said several concepts were introduced to enhance first home buyers’s affordability.
Those include a new special “step-up” end-financing scheme for the PR1MA programme to enable first time house buyers to get higher amount of borrowings and the exemption of stamp duty to 100 per cent on instruments of transfer and housing loan instruments.