KOTA KINABALU: Property prices in Sabah are expected to increase by 10 to 15 per cent in the second quarter of this year as developers adjust to higher construction material costs.
Sabah Housing and Town Development Authority (LPPB) chairman Datuk Masiung Banah said building materials such as cement, bricks, fertiliser and timber have seen significant price hikes since January.
Data from the Department of Statistics Malaysia (DOSM) showed cement rose by 15 per cent, fertiliser by 20 per cent, bricks by 12 per cent and timber by 10 per cent.
Masiung warned that rising raw material costs, global supply chain constraints and shipping logistics at Port Klang are pushing prices upward, impacting an already expensive property market in Sabah.
He urged the government to consider subsidies or ceiling prices for key materials but cautioned this could reduce project scopes and compromise building quality and safety.
