REAL estate agencies which will be participating in the 7th Malaysian Secondary and Primary Property Exhibition (MASPEX) have promised a good selection of sub sale properties at competitive pricing.
The annual event, organised by Malaysian Institute of Estate Agents (MIEA) Penang Branch, will be held at the lower ground flood (in front of AEON) in Queensbay Mall on Sept 19-22 from 10am to 10pm.
MIEA Penang Branch chairman Christina Choong said the exhibition would allow registered real estate agencies in Penang to showcase their portfolio of secondary properties at the only exhibition for the estate agencies to a wider market of potential purchasers and investors.
“As the property market moves into a more challenging phase, we have extended MASPEX invitation to include property developers with solid track records whom our estate agencies firms have worked closely to provide a balanced range of properties for the potential buyers,” Choong told a press conference called by state Local Government, Housing and Town & Country Planning Committee chairman Jagdeep Singh Deo in Komtar on Aug 20.
From past records, Choong said exhibitors had received encouraging leads and sales whereby there were instances of requests for immediate property viewing, payments of earnest deposits, as well as successful deals.
She said they hope the government would extend incentives to secondary market properties, just like the Government’s Home Ownership Campaign (HOC) 2019 benefiting the Malaysian house buyers with the exemption of stamp duties for purchase of residential units purchased between January to December 2019.
“The exhibition is indeed very timely to spur this sector of the property market and help developers clear their stock of unsold units,” she added.
Jagdeep said he would bring up MIEA Penang’s request to the state executive committee and see where they could assist.
Jagdeep also agreed with Choong that the secondary market reportedly makes up 80% of all residential property transactions in the nation.
For further information, call MIEA Secretariat at 04-2288333.
Story by Danny Ooi
Pix by Nur Amirah Husna Roslan