Developers report steady sales halfway through fair

Seven developers achieved RM32.7mil in sales altogether during the first two days of the Star Property Fair 2015 at Queensbay Mall in Penang.

Eco World Development Group Bhd general manager Khoo Teck Chong said the group sold nine units with a sales value of RM9mil altogether from Eco Meadows in Bukit Tambun and Eco Terraces in Paya Terubong.

The Eco Meadows terrace homes are priced from RM708,000 while the Eco Terraces units are from RM900,000.

“We are targeting RM20mil to RM30mil sales over the four-day fair.

“The turnout of the crowd has been good so far,” he said yesterday.

Khoo added that the venue of the fair in the south-west district this time allowed the group to tap into the market in the southern part of the island and in Seberang Prai.

“We will be looking for more land on the island and in Seberang Prai to launch new innovative gated houses,” he said.

Asia Green Group director Tan Li Mei said the group sold four units of its Clovers condominium project in Sungai Ara.

“The project is now 80% sold, leaving 230 units still to be taken up.

“The units are priced between RM708,000 and RM900,000,” she said.

Tan said the group was targeting RM20mil sales, compared to about RM15mil achieved at the last Star Property Fair at Gurney Plaza in July.

“All the Clovers units are not furnished because most buyers prefer their own interior design ideas for their units.

“Furthermore, if they move in a year or more after purchasing their homes, some of the furnishings may have already deteriorated,” she said.

Tan said the housing loan rejection rate for Clovers so far was around 5%.

Zeon Properties chief executive officer Leon Lee said the company sold RM20mil worth of property so far.

The projects exhibited by Zeon are Ewein Zenith’s City of Dreams in Gurney Drive, Aroma Development Sdn Bhd’s Starhill in Sungai Ara, Bionic Land Bhd’s Prominence in Butterworth, Trimension Properties’ GMansion in Bukit Gambier and KB Group’s Sang Sarang in Lumut.

“If the property costs less than a million ringgit these days, it is not hard to sell.

“This means that a RM750,000 condo unit can still find a buyer although its built-up area is only 500sq ft,” he said.

Lee said the transportation components proposed in the Penang Transport Master Plan would help to boost property value.

“The value of property located close to an efficient transportation system will rise,” he said. - By The Star

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