‘Significant’ increase in building material prices

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‘Significant’ increase in building material prices
PropertymarketPricehikeConstructioncosts
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IPOH: Tenaga Nasional Berhad (TNB) hopes to engage with the affected property owners who are required to pay hefty bills due to illegal electricity connections by tenants engaged in cryptocurrency mining activities.

KUALA LUMPUR: Residential property prices are expected to go up this year on the back of continuous construction price hikes, says Henry Butcher Real Estate Sdn Bhd chief operating officer Tang Chee Meng.

Tang added that the market has yet to be in a strong position and developers were not able to pass the cost on to house buyers. Moving forward, Tang pointed that the market would continue to register positive growth in 2025, underpinned by steady gross domestic product growth projections, digitalisation within the industry, major infrastructure developments as well as continuous increase in foreign and domestic direct investments.

“Otherwise, we believe that the industrial sub-sector will continue to lead the way in terms of performance,” he added.

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