Cement Price Hike May Cause House Prices to Rise by 10% – 15%

The cement price hike of close to 50% will spark a chain reaction in the construction and property development industry, which may likely lead to a property price increase of 10% to 15%.

According to the Johor Master Builders Association (JMBA) President Tee See Kim, cement is an essential building material used from the piling stage and the foundation to the structure and even interior design,

The exorbitant price hike of close to 50% will have a spillover effect down the line including hardware shops, cement products suppliers such as roof tiles and cement pipe manufacturers; as well as interior design companies.