KOTA KINABALU: The Sabah Housing and Real Estate Developers Association (SHAREDA) has launched a statewide property market survey as part of a proactive move to tackle issues related to housing affordability and market sustainability in Sabah.
SHAREDA President Datuk Chua Soon Ping said the survey aims to identify gaps between supply and demand, affordability constraints and opportunities for more inclusive, data-driven development.
“We are conducting a survey on Sabah’s property market to better understand current trends, affordability challenges and potential opportunities for smarter development.
“We invite SHAREDA members to participate in this important initiative. Your insights are invaluable and will directly inform strategies that make housing more accessible, sustainable and aligned with the needs of real people. We look forward to your feedback and responses,” he said at the signing ceremony of two Memoranda of Understanding (MoUs) with GreenRE Sdn Bhd and The Borneo International Centre for Arbitration and Mediation (BICAM) here on Friday.
Chua stressed the importance of aligning development with actual market needs, citing data from the National Property Information Centre (NAPIC), which recorded 1,524 unsold residential units in Sabah as of Q3 2024. Of these, 440 units were priced between RM300,000 and RM500,000 — a range meant for middle-income buyers.
Nationally, a total of 23,149 overhang units were recorded, with 7,003 units falling into the same pricing segment.
“This is a clear indicator that we must realign what we’re building with what the market can actually afford,” he said.
Chua said the average house price in Malaysia had reached RM483,879 in Q4 2024, while the median household income in 2023 was RM6,338. “The gap is widening and we cannot afford to ignore it.
“These figures reflect a deeper disconnect between supply and demand. As developers, we are not only building structures — we are shaping communities. This is a call for us to rethink, realign and contribute meaningfully to a more balanced property ecosystem,” he added.
The MoU with GreenRE Sdn Bhd is part of SHAREDA’s push for greener development, as the certification programme promotes environmentally responsible and energy-efficient building practices.
“GreenRE certification provides developers with a platform to reduce the carbon footprint of their projects while creating healthier living environments. This aligns perfectly with Sabah’s long-term goals for sustainable urban growth,” said Chua.
He noted that such initiatives will not only lower operational costs and enhance property value but also position Sabah as a leader in sustainable development, setting an example for other states.
The second MoU signed with BICAM introduces a more efficient and cost-effective alternative to litigation in resolving disputes in the housing and real estate sector.
“BICAM offers a platform for amicable and timely resolutions through mutual agreement, avoiding lengthy court proceedings that often delay project delivery.
“This will promote a healthier, more collaborative business environment, ensuring projects stay on track and industry relationships remain intact,” he said.
The evening’s event marked more than just formal agreements. “Tonight is about laying a solid foundation for future progress, sustainability, and cooperation within the housing and real estate industry.
“The partnerships we’ve formed today will have a lasting impact on shaping the future of our state and we are proud to be part of this transformative journey,” said Chua.
Also present were Political Secretary to Chief Minister, Datuk Dr Roland Chia; Deputy President of SHAREDA, Datuk Johnny Wong. Chen Yee; Chairman of BICAM, Tan Sri David Wong Dak Wah and President of REHDA Malaysia, Datuk Ir Ho Hon Sang.
