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Sales Pick up at Property Fair

GEORGE TOWN: The three-day Star Property Fair 2010 at G Hotel and Gurney Plaza here concluded with developers estimating total sales at over RM50mil, with many saying they exceeded their initial sales projections.

They attributed brisk sales to visitors’ eagerness to make their investments now in light of rising prices.

Belleview Group Sales and Marketing manager Jeffrey Yeap said that as at noon yesterday, RM7mil in confirmed sales had been recorded for its projects – All Seasons Park, Bukit Dumbar Residences, Palmyra Residences and Melody Homes.

Huge turnout: A family inquiring about a property that was put up for sale at the three-day Star Property Fair 2010 in Penang.

“It’s a great time to invest as owning a home allows one to hedge against inflation,” Yeap added.

SP Setia Bhd Group enjoyed some RM15mil in sales for its Reflections condominium project.

“It’s even better than last year.

“This time around, I’ve been attending to inquiries almost non-stop,” said Setia Pearl Island Projects, Sales and Marketing, Property Division (north) assistant manager Joanne Koay.

Also as successful was Ivory Properties Group, whose The Peak Residences – one of the few developments offering a lengthy, rooftop garden – was almost sold out.

“Sales have definitely picked up as people know that property prices will keep going up,” said Corporate Property assistant manager Michael Wong, adding that the company enjoyed over RM10mil in total sales for The Peak as well as its other projects such as Penang Times Square and Moonlight Bay.

Properties located elsewhere also generated much interest.

Synergy International Realtors, which is marketing The Haven Lakeside Residences, due for launch later this year, said 150 registrations were made by interested parties.

“It’s an eco-project set in an environment of limestone hills with easy access to Penang and Kuala Lumpur,” said the company’s managing director Terry Wong.

Far away in New Zealand, KPWG International’s offering – plots of land for its Hinamoki project at Kaipara Harbour on North Island – was also snapped up.

“Plots are priced at RM500,000 on average. You definitely won’t be able to find one-acre plots of land at that price in Penang,” said KPWG director Abdul Ghafar Abdullah.

Among the visitors to the fair were accounts officer Cynthia Tan, 24, and her boyfriend. They were looking for a condominium.

“We decided to drop by the fair since we can have all the developers under one roof.

“It is also easier to compare the offer prices instantly,” she said.

As for software engineer Woon Tze Lean, the annual fair is something not to be missed.

“Even if we are not here to buy any property yet, it is interesting to walk around the booths and admire models of projects.

“Who knows we might suddenly come across a dream home at an affordable price,” the 30-year-old said.

 

By JEREMY TAN and ANN TAN
north@thestar.com.my

Source : The Star, Monday July 26, 2010