Over RM80 million property sales took place at Property Hunter Expo

Press Release: Over RM80 million property sales took place at Property Hunter Expo

Property Hunter, East Malaysia’s leading property portal kicked off their first event of the year with East Malaysia’s Largest Property Expo, the PH Expo 2022 on Thursday, 22 April 2022, at the Sabah International Convention Centre(SICC).

Large Crowd Shows Revival Of Post-Pandemic Property Market Sentiment

The 3-day event marked Property Hunter’s first expo after two years of the Covid-19 pandemic. The event received a total crowd of over 8,000 visitors.

“After 2 years of pandemic, it’s very encouraging to see people coming out to buy their dream homes. The crowd turnout was beyond our (as well as exhibitors’) expectations. People were very keen to upgrade their homes and learn about new investment products in the market,” expressed Victor Yong, Director of Property Hunter.

The event showcased over 80 new projects from across Malaysia all under one roof. It includes some of the best products for homebuyers and property investors. The event also hosted a number of property-related seminars featuring renowned property industry experts.

Developers from Peninsular Malaysia were excited to see the crowd at the expo and were impressed by the response. Present at the event include projects from Kuala Lumpur, Selangor, Johor and Penang. 

Enthusiastic Homebuyers Shows A Growth In Sales

The event saw over RM80 million in sales and close to 180 units of properties sold in just three days, with Riveria Villas and Taman Jelita being two of the developments that were fully sold during the event.

Judging by the turnout and the positive response from the visitors, it is evident that people are eager to buy homes following the pandemic.

SHAREDA: Government and private sector collaboration crucial to recovery

SHAREDA is a supporting partner to Property Hunter Expo 2022. Its President Datuk Chua Soon Ping says “It is encouraging to see the buyers enthusiastic response during the event. The public sentiment towards post-pandemic recovery and real estate investment is clearly a positive one.”

He commented that as the market is opening up, the government and private sector need to work out an immediate plan to quantum leap the economic recovery.

According to the Sabah State Government release, the lowering of foreign ownership threshold from RM1million to RM600,000 with effect from 1 April 2022, as well as  to include commercial suites and properties under construction are moves well received by SHAREDA. In addition to that, the removal of clause 6.3 which requires the prior approval by Pejabat Hasil Bumi would positively facilitate the sale of property to foreigners.

“The introduction of our own Sabah-MM2H scheme would further encourage more investment into Sabah when the Asian markets are fully open by next year. By then, developers and state government agencies should join forces to promote Sabah in overseas markets such as Hong Kong, Singapore, Korea and China” says Datuk Chua. 

Property Hunter is a leading property portal in East Malaysia where users can buy, rent or sell property on the website. For more information on the latest events and information, please visit: https://www.propertyhunter.com.my/ or follow PropertyHunter.com.my on Facebook.

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