IPOH: The Real Estate and Housing Developers' Association Malaysia Perak Branch (Rehda Perak) aims to showcase 5,000 properties worth RM3 billion at the Malaysia Property Expo (MAPEX) Perak 2024.
The event, featuring 20 exhibitors and more than 20 participating developers, will take place from Oct 4 to Oct 6 at Ipoh Parade and will be officiated by Perak Menteri Besar Datuk Seri Saarani Mohamad.
Rehda Perak deputy chairperson May Ang Chan Moy said the properties, priced between RM90,000 and RM3.34 million per unit, will be available from various locations, including Ipoh, Kampar, Bidor, Taiping, Seri Iskandar, and Bangsar South, Kuala Lumpur.
"At MAPEX Perak 2024, first-time home buyers purchasing properties valued at RM500,000 and below will be eligible for a 100 per cent stamp duty exemption, valid until Dec 31, 2025," she said at a press conference here today.
Additionally, Ang said 300 vouchers worth RM500 each are available on a first-come, first-served basis, and one participating developer is offering a lucky draw with a Honda car as the prize for buyers who purchase a unit during the expo.
"We believe that MAPEX 2024 will play a pivotal role in shaping the future of Perak's real estate industry. By providing a platform for innovation, collaboration, and knowledge sharing, we aim to contribute to the state's economic development and enhance the quality of life for all," she said.
Meanwhile, Rehda Perak chairperson Loh Ban Ho said that the overhang property situation in the state is not alarming, as the majority of those properties are priced at RM300,000 and below.
He explained that most of the overhang properties are within this price range and are not a major concern, as they can be easily absorbed by the market, even if they remain unsold for nine months after launch.
"In Perak, there are about 4,000 overhang properties recorded in the first quarter of this year. However, the number has slightly reduced in the second half of the year.
"Most of the overhang properties are concentrated in three areas, which include Manjung, Teluk Intan, and Kinta," he added.