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Expo offers 2,500 choices of secondary properties

MORE than 2,500 residential properties will be exhibited during the Malaysian Secondary Property Exhibition Penang (Maspex 2014) at the Penang Times Square this weekend.

Organising chairman Michael Geh said many of the properties, with prices ranging from RM300,000 to RM800,000, were in strategic locations.

“The prices are between 20% and 30% lower than the new properties sold by developers,” he said during a press conference yesterday.

State Town and Country, Planning, and Housing Executive Committee chairman Jagdeep Singh will launch Maspex 2014 which will be held from Friday to Sunday.

Geh said last year’s Maspex saw more than 7,000 people attending it with more than 500 leads for real estate agents.

“The secondary market is the biggest driver in the overall property sector in the country, taking up 70% of the market share,” he added.

Geh said there would also be property forums to disseminate information on what was happening in the housing industry in the country and in the region today.

“There will also be tips on interior design for affordable homes, property tax for the secondary property market, and the impact of the Goods and Services Tax on property,” he said.

Meanwhile, Jagdeep said the state government would also have a booth at the event to register first-time buyers of low medium-cost houses priced at RM72,000 and affordable housing projects, which are priced between RM200,000 and RM400,000.

“There are 10 affordable projects being developed in the state now. We expect to deliver 19,730 affordable units by 2018,” Jagdeep said.

Source: StarProperty.my

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  1. Who Cares
    June 18th, 2014 at 13:19 | #1

    So desperate to off load all those properties brought by speculators… or should I say property agents. They are all trying to get out before the property market crashes…

    I wonder how many people will be stupid enough to buy into this crap???

  2. Chocolate
    June 18th, 2014 at 14:14 | #2

    @Who Cares

    Do u have money to buy one?

  3. Elmo
    June 18th, 2014 at 14:19 | #3

    Gov organized this.. you people throw negative feedback. If Penang Gov do nothing, you people also ‘ cry father cry mom’. Hard to please you all. Haizz.. at least in this exhibition maybe will beneficial some buyers.

  4. Hock Hin
    June 18th, 2014 at 14:22 | #4

    positive thinking please and less bashing

  5. 5pain
    June 18th, 2014 at 15:29 | #5

    alar why so negative?……Just go look see how is the secondary market rate, and see if there is any good deal lar…..

    if no kangtao, just walk off lar………nothing to lose :)

  6. Leeden
    June 18th, 2014 at 15:39 | #6

    Actually you care, because you are first to comment…
    Don’t lie to yourself, “Who Cares”!

  7. ju
    June 18th, 2014 at 16:54 | #7

    20 to 30% cheaper than new launch? Look carefully. Either the design is old, badly maintained, or in bad location one. You might need to fork out 20 to 30% more to fix these houses before you can move in or rent out.. newly completed condo or landed property in prime location cannot be lower than new launch one.

  8. Lim
    June 19th, 2014 at 00:52 | #8

    Elmo :
    Gov organized this.. you people throw negative feedback. If Penang Gov do nothing, you people also ‘ cry father cry mom’. Hard to please you all. Haizz.. at least in this exhibition maybe will beneficial some buyers.

    Yes. You are right. Let think positive and this kind of properties fair may benefit some new buyer. Should go and have a look because in this mix market fair you may find something below market value.

  9. Who Cares
    June 19th, 2014 at 07:36 | #9

    @Chocolate
    No I can not afford lah… I am too poor to live in Penang. That is why I had to move to Australia and buy my $700,000 house.

    The more important question is do you have money to buy?

  10. Chocolate
    June 19th, 2014 at 09:14 | #10

    Who Cares :
    @Chocolate
    No I can not afford lah… I am too poor to live in Penang. That is why I had to move to Australia and buy my $700,000 house.
    The more important question is do you have money to buy?

    Oh!

  11. Opsss
    Opsss
    June 19th, 2014 at 09:52 | #11

    Who Cares :@Chocolate No I can not afford lah… I am too poor to live in Penang. That is why I had to move to Australia and buy my $700,000 house.
    The more important question is do you have money to buy?

    haizzzz…. Noob!

  12. Mainland
    June 19th, 2014 at 09:59 | #12

    @Who Cares

    If you had property in Australia you won’t be talking here !!!!! Don’t try
    to “shit” around.

  13. KT
    June 19th, 2014 at 11:23 | #13

    I believe good units which are under market value is almost not posible to find in such expo.
    very simple rule… everyone is looking for good stuff with less cost.
    property agent self, freinds, family member, business partner, banker, banker colleague, partnership lawyer & etc… would have priority info & to choose for such dam nice units before it release to expo open for public. haha…

  14. Leeden
    June 19th, 2014 at 11:44 | #14

    @KT
    Totally agree…

  15. w
    June 19th, 2014 at 16:50 | #15

    If can get bones (with some meat still attached) not bad what?!
    Can at least make “sup tulang” at least, better than nothing.

    I believed it is a rental cost factor, otherwise I don’t understand why they always choose Times Sq for this fair?
    it just not a strong example of secondary market, right?

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