40 participating property developers showcased over seven thousand units of property worth 5.46b at the second round of the Malaysia Property Expo at City Square, Johor Bahru
REHDA Johor Branch recently organised and held the second round of the Malaysia Property Expo 2018 at City Square, Johor Bahru which featured about 40 property developers showcase over seven thousand units of property to be sold with attractive packages.
Competitively, the exhibitors offered special rates and discounts for first-time buyers from 5% to 20% for a variety of household units.
It is estimated that the total value of property up for sale during this expo is approximately RM5.46b.
“The state government is currently reviewing its housing policies to cater to the present trends. There are a lot of comments among netizens pertaining to a new category in affordable homes. It is yet to be confirmed and finalised but as mentioned, the state government is currently planning to target the M40 or middle income group (combined household income between RM8-12k a month) by offering houses that are worth RM250k,”said Johor State Chairman of Housing and Rural Development Committee, Sr Dzulkefly Ahmad in a press conference at MAPEX2018.
“This is one way to attract the middle income community to be able to buy a dream home for their family,” added Dzulkefly.
Dzulkefly is also confident with the statement of the Director of the National Property Information Centre, Sr. Gs. Md Badrul Hisham Bin Awang that the property market will recover in-between 2018 to 2019.
He also added, “Statistics from the Valuation and Property Services Department shows that the overall property market was slowing down in 2018. However in Johor, the amount of transactions in 2018 has increased by 6% compared to 2017 thus far.”
“As for overhang or no sale units in 2018, there has been an 18.1% increase in volume. This shows that property developers must play a role in choosing the right type of property to develop at the right time to avoid a mismatch between supply and demand. Now is the time to call for more properties that are worth between RM300 – 500k.”
“Developers play a very important role in stimulating the economy. We appeal to the new government to relook at some of the present policies which may be outdated,” said Dato’ Ir. Steve Chong Yoon On, REHDA Johor Branch Chairman during his opening speech.
“Aside from contributing to the efforts of the government in providing affordable homes, we are also businessmen who want to contribute to the community. There has to be a balance of property development in the market with some affordable homes, middle range, and high end homes included to make Johor Bahru city more attractive,” Dato’ Steve Chong added.