Besides that, the respondents were asked
whether or not they found it difficult to obtain
a housing loan due to the selling price of
the property. Based on this question, 97%
percent of the respondents say yes that they
found it difficult to obtain a certain loan
amount due to house price.
In addition, respondents were also asked if
the house price in Kota Kinabalu is expensive
or not, and if so, why? Options of reasons
were given and they can select more than
one possible reason. Based on this survey
exercise, the findings indicate that 79% think
that houses in Kota Kinabalu are expensive
and the selling price is being set as high/
too high. 35% attributes it to materials and
or other costs that have increased overtime.
12% believe that it is due to the fact that
the demand for houses in Kota Kinabalu is
greater than the supply of houses. Moreover,
2% of the respondents think that the price of
property in Kota Kinabalu is not expensive,
hence no reasons were given.
Furthermore, the study asked respondents’
opinion whether or not the supply of low
cost housing in Kota Kinabalu or neighboring
districts is sufficient to meet the demands of
people working in Kota Kinabalu. The survey
findings indicate that 94% believe low cost
housing supply is not sufficient.
In relation to this, a general question was
also asked whether or not house supply in
Kota Kinabalu or neighboring districts of Kota
Kinabalu in sum are sufficient for people in The researcher would like to propose a more as to ensure more people be able to own a
Kota Kinabalu. The findings of the survey comprehensive study to be conducted in Kota house. Indeed, the efforts by the government
show that 25% believe that it is sufficient Kinabalu and Sabah as a whole to examine and private sector to provide more affordable
while the rest thinks it is not sufficient. whether or not the house price in Sabah is housing must be supported.
Based on the preliminary study, it is clear expensive and to check whether or not the that generally the millennial thinks that supply of property is not sufficient, causing house price in Kota Kinabalu is expensive prices to be expensive. This is in addition to and the supply of houses is not sufficient. the previous study conducted by Khazanah However, the findings do not suggest that it Research Institute last few years. In addition, is 100% correct since it is just the views of 400 the study would like to propose that more respondents. affordable houses be developed in Sabah so
Dr Rafiq Idris
Dr Rafiq Idris is an economist, Senior Lecturer from Financial Economics Program, Faculty of Business, Economics and
Accountancy, Universiti Malaysia Sabah. He is known for his research on trade, health economics and expertise in Trans-
Pacific Partnership Agreement (TPPA).
www.PropertyHunter.com.my
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