Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Monday, March 10, 2008

Rehda: Buy properties now

PETALING JAYA: Prospective homebuyers should make their purchases now as property prices may increase in the near future, said the Real Estate and Housing Developers’ Association’s (Rehda) Negri Sembilan chapter.

Branch chairman Datuk Soam Heng Choon (pix) told theSun that in light of escalating fuel prices and cost of raw materials, the cost of construction would eventually be passed on to consumers.

Soam said property prices in the state have already seen increases since last December by as much as 10%.

“We represent about 52 developers in the state and all are facing similar problems as those faced at the national level. The strain on the construction industry is getting worse with the rising prices of steel bars and cement. Moreover, Malaysian skilled workers in the industry are also being pinched overseas to places like India, China and the Middle East,” Soam said, adding that the developers’ main concern is to keep the cost of doing business down.

Demand for properties in the state has been “quite good” in the last six months which Soam attributed to the relatively affordable prices.

“We have also seen buyers from the Klang Valley … maybe because our selling prices are still pretty affordable. For example, the average price of a 2-storey house here is just over RM200,000 while for a 1-storey home, it’s over RM100,000,” said Soam.

Rehda Negri Sembilan members are hoping for vibrant sales at the upcoming three-day Malaysia Property Expo (Mapex) 2008 (state level), in May.

“It’s the norm for us to achieve about RM20 million sales during Mapex but this year we hope for higher sales as we are encouraging prospective buyers to buy their properties now before the eventual price hike in properties,” added Soam.

More than RM200 million worth of properties will be offered at the upcoming Mapex, which is organised by Rehda. According to Soam, about 20 developers in the state would be taking part in the first of the twice-yearly exhibition in the state. The next exhibition is expected to be held towards the end of the year.

By theSun (by Loo Pik Kwan)

No comments: