- The economic turmoil which hit the country
in July 1997 has taken its toll of the property market into
1998.
- There were significant falls in the total number and total
value of transactions by 23.4% and 41.8% respectively in 1998
compared with 1997.
- Residential property transactions featured prominently,
contributing 52.7% of the total transactions, followed by the
agricultural propertysectorat32.4%.
- Double storey terraced houses in the price range of
RM100,000 RM150,000 were the most actively transacted.
- Transacted value for residential properties priced
RM100,000 - RM150,000 totaled RM75.63 million, which was about
22.5% of the total residential value transacted.
- All property sectors experienced price uncertainties, with
slight increases and decreases.
- Prices of apartments and condominiums slid
by 1.5% - 17.7%.
- Rentals of residential properties generally
eased, in Kota Kinabalu by 3.0% - 15.0% while in Labuan by 6.0%
- 38.0%.
- The office sector saw an increase in supply
of office space in Kota Kinabalu and Labuan by 28.6% and 22.9%
respectively.
- This caused rentals to decline by 5.0% -
28.0% in Kota Kinabalu and 6.0% - 60.6%. in
Labuan.
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