KUCHING: Nearly 1,500 units of houses costing more than RM250,000 each have remained unsold since last year due to poor public demand.

State Housing Minister Datuk Seri Abang Johari Tun Openg believed that this could be due to difficulty in obtaining loans from financial institutions.

"I will meet representatives of financial institutions to help potential buyers get loans faster."

He said private housing developers had been suffering financially because their capital was stuck in unsold houses.

"I have been told by the Sarawak Housing Developers and Real Estate Association that its members are suffering."
Another problem faced by developers is that some buyers have downgraded their plans to buy more expensive houses, leaving them unsold.

Abang Johari said he understood this as many did not want to be saddled with loans that came at high interest rates.

However, he said there would not be problems disposing houses costing between RM98,000 and RM155,000.

He added most buyers for such houses were civil servants whose applications for government loans could be processed within three days.

Citing an example, he said all 2,700 units available in Miri had been taken up, mostly by civil servants.

"I believe they are buying the houses now while properties are still cheap.

"In five years, the price may increase greatly due to the increase in the cost of building materials."

Abang Johari said the price of houses costing RM42,000 for a smaller unit and RM47,000 for a bigger unit would remain the same in Sarawak despite the higher cost of building materials after the recent fuel price hike.

Earlier, Abang Johari said Parti Pesaka Bumiputra Bersatu, Satok branch, will hold an economic seminar on Aug 2.