Augustine Wong
KUCHING (June 4): Sarawak Housing and Real Estate Developers’ Association (Sheda) advises those planning to buy houses to take advantage of the Home Ownership Campaign (HOC) recently extended to Dec 31.
Its president Augustine Wong said in a statement yesterday that construction cost has increased by about 30 per cent since the first Movement Control Order was implemented March 2020.
“Compounding it are disruptive supply chain, logistics related issues and acute shortage of construction workers. All these would ultimately result in higher property prices,” he said
Operating with limited workforce and swab tests for construction workers also add to higher operation cost,
As such, another round of price increase is anticipated and Sheda opines that the time to buy property is now, especially with savings from HOC including stamp duties.
Sheda welcomes the Ministry of Finance extension of HOC to end of the year instead of May 31.