So far never see any freehold in kuching, mostly 60 years lease.

i see, not 99 like in peninsular

99 years also got. Depending on which area. Getting more common

hi,

any miri ppl here? just want to ask how is the commercial market in Miri area yea? in term of rental?

thanz for the info in advance...

Not from miri. But i saw a lot of empty shop lots at marina area there yet to be occupied.

Hi,

any sarawakian here? wanna ask about how the retail lot work in Merdeka Plaza? I saw there got ppl selling the retail lot which is leasing bck to the management... Any idea itiz true? and how about the payment if true?

Thank you...

Hi Michael, this means "most/all" of kuching properties (shop lot/landed/high rise) also lh? But less than 99 like peninsular?

I'm from Miri, but currently residing in KL (Seputeh area).

For the commercial market, I don't follow it that closely, but based on my experiences with people who have invested in shoplots, I can say that it's not doing too well nowadays. My dad bought a shoplot at the Eastwood Industrial Park 2 years ago and up till now, no tenant moved in. As for the Waterfront, the commercial lots are completed, but not many tenants moved in yet the last time I was there back a few months ago.

I see.. end of may tat day i got went to Miri for surveying oso... there are quite lot of unoccupied shoplot... mayb due to too many commercial project in Miri.. i got went to senadin area too, many shoplot complete but left unoccupied.. jz dunno will it owkie in future or not...due to tat area quite near to chckpoint..hehe..

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If I were you, I'd better wait until the property market improves because according to my dad, he saw a lot of 'For Sale/Rent' on quite a number of shoplots dy, including the ones at the Waterfront.

haha... just surveying the area now... but seems lot of vacant lot there and no market there.. if there are cheap sale mayb stil cn cnsider la.. haha...

Seems like there's an oversupply of commercial properties not only in Miri but in a number of cities in Sarawak like Bintulu and Kuching. If oversupply in residential properties, that's still able to rectify as there are always people looking for a place to stay/rent, regardless of a recession or not.

Shoplots/Commercial units, on the other hand, not everybody needs to set up a business and I'm sure those who do are not that many compared to salaried workers. Talk about a mismatch of demand and supply.

This post has been edited by DesRed: Jul 28 2017, 09:57 AM

yea.. i guess nt only sarawak.. the oversupply of commercial properties oso happen in sabah here.. which they are more and more shopping mall and oso commercial lot in every single place.. just in KK, there are omost 10 shopping mall in the not far radius, this nt including for the commercial lot yet...

yeah, do you think this is sustainable? the growth of the commercial lots take up seems slow. wonder how those who bought those shop lot maintain their monthly payment to the bank

most of the ppl who bought those shop lot are the person which is in the rich categories i gues... tatz y nt worry for the monthly payment to the bank.. y i said so.... due to where i ever meet a owner which his shop is now tenanted, and need renew the tenancy agreement by this year.. nowadays business market oledi in slow down term, the owner still wan to increase the rental price... at last the tenant force to move out due to hard to pay increasing of the rental.. and now the owner end up left the lot vacant for amost 3 months now... if for me i won do so...

Most, but not all. I know my dad is cursing that Eastwood Industrial Park shoplot that he bought 2-3 years ago coz up till now, no tenant wanted to set up shop there and he still continue to pay the monthly installments some more. He runs his own business, btw, but pretty small scale.

Where is Eastwood?

Right next to Eastwood Valley golf course if you're referring to the Eastwood Industrial Park.

eastwood area? upcoming pan borneo highway there?