Sharp rise in house prices expected

Local Government and Housing Minister Datuk Dr Sim Kui Hian (centre) and Sheda president Joseph Wong (right) give their approval on Ibraco Bhds new development. At left is Ibracos managing director Datuk Chew Chiaw Han. - ZULAZHAR SHEBLEE / THE STAR

KUCHING: Double-storey terrace houses in the city can cost over RM1mil in the next five to 10 years if changes are not made to the planning requirement.

Sarawak Housing and Real Estate Developers’ Association (Sheda) president Joseph Wong predicted that the lack of affordable housing for the middle-income group would also contribute to the sky-rocketing price of houses.