From the Desk of Head of Law Firm In recent years Kuching has experienced a sudden surge in property market and has shown no sign of stopping and according to many observers, the general residential property market sentiment in Kuching is that the current prices are at “an-all-time high”. According to a property consultant firm, it is observed that the first decade of the 21st century saw Sarawak’s home prices increasing rapidly and this had surpassed the overall average Malaysia house index. The National Property Information Centre (NAPIC) statistics show that 16,818 units of various residential home types were under construction in Sarawak in the first quarter of 2012. It is observed that some 10,548 or around 63 % of these were in Kuching and Kota Samarahan divisions. It has also been observed in the same period, Kuching and Samarahan divisions also housed 2,498 out of 4,418 units launched, which translates more than 55 %. A property market report by a property firm noted that in Kuching prices of residential properties had increased between 10% – 20% across the board in 2011. Samarahan area is a hot property area at this moment because it houses University Malaysia Sarawak (UNIMAS) as […]
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