The prices of some condominium units in Sabah have increased significantly that they are now at par with those found in Kuala Lumpur.
Chief Minister Datuk Seri Musa Aman, said: “Some people tell me that I should be proud that condominium prices here are similar to that of those in Kuala Lumpur, that it reflects the confidence investors have in Sabah.”
But this could lead to a point when prices are out of reach for many. “I tell them, yes, it is good for the investors but it is not so good for Sabahans,” said Musa, adding that the government is doing its part by building thousands of affordable houses across the state.
In 2011, the value of property transactions within the state rose by more than two-fold over eight years to a record RM4.4 billion. Notably, transaction volume averaged at RM429,000, or up 34 percent from the country's average purchase price per property of RM319,000, based on a HwangDBS report.
Musa also explained that while the government had no hand on prices fixed by private developers, it always advised them to set the unit prices to a reasonable level.
Chief Minister Datuk Seri Musa Aman, said: “Some people tell me that I should be proud that condominium prices here are similar to that of those in Kuala Lumpur, that it reflects the confidence investors have in Sabah.”
But this could lead to a point when prices are out of reach for many. “I tell them, yes, it is good for the investors but it is not so good for Sabahans,” said Musa, adding that the government is doing its part by building thousands of affordable houses across the state.
In 2011, the value of property transactions within the state rose by more than two-fold over eight years to a record RM4.4 billion. Notably, transaction volume averaged at RM429,000, or up 34 percent from the country's average purchase price per property of RM319,000, based on a HwangDBS report.
Musa also explained that while the government had no hand on prices fixed by private developers, it always advised them to set the unit prices to a reasonable level.
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