SIBU, Nov 11- The demand for affordable houses and commercial properties is expected to reach a new peak in the state soon, says the Sarawak Housing and Real Estate Developers' Association (SHEDA). Joseph Ting King Sung, SHEDA vice-president and a developer himself, cited two major factors for the bright outlook.

"Firstly, our Prime Minister Datuk Seri Najib Tun Razak, in presenting the nation's 2012 Budget recently, announced an increase in the ceiling for loans under the government's "My First Home Scheme" to RM400,000 from RM250,000 previously. "I believe this will be the impetus for more young couples to hunt for and buy houses," he told reporters here today.

The Sarawak Corridor of Renewable Energy (SCORE) is also poised to generate many job opportunities, attracting many professionals and workers to the central region, he said, adding they will definitely be looking for houses. Ting said with many multinational companies coming to invest in its activities as well as in the state's halal hub in Tanjung Manis, which is also in the same area, demand for commercial buildings and factories would go up.

 "The Sibu market outlook, for instance, is not only still encouraging with stable take-up rates but also on the upward trend. "We have contemporary designs and architecture as can be seen in new launches of all kinds of properties," he added. Ting said local developers are also moving to the outskirts like Oya, Kemunyang, Teku, Nansang and Salim where the land is more affordable compared to urban areas.

 "Some hypermarkets are already there for a stronger market share," he said. Before the new Budget, first-time house buyers generally gravitated toward houses in the RM90,000 to RM250,000 price range, and now the demand has outstripped supply, he said. Meanwhile the SHEDA Sibu branch will organise its 2011 Home and Property Roadshow from Dec 9 to Dec 11 at Wisma Sanyan here.

"We have prominent developers from Kuching and Bintulu besides our local developers coming to showcase their latest products, from commercial buildings to condominiums to high-end homes. "We expect them to give special discounts and incentives for purchase agreements signed during the roadshow," he said. - BERNAMA