This year’s Malaysia Property Exposition (MAPEX 2015) in Perak was held over three days at Ipoh Parade. It was reputed to be the largest property exposition in the state and the first ever in a shopping mall.
This year’s event had the most number of participants with 35 developers, 6 property sales agencies and one banking institution, taking up 51 booths. It showcased a total of 6266 units of properties with a sale value of RM4.5 billion. Properties in Cameron Highlands, Kuala Lumpur, Selangor, Malacca and Penang were also on display.
According to REHDA (Real Estate and Housing Developers’ Association) Perak Branch Chairman, Tony Khoo Boon Chuan, MAPEX is the leading property sales event in Perak and Malaysia accessible to both consumers and business professionals.
“REHDA anticipated sales to slow down by 30 per cent, as evidenced by market performance for the last few quarters. The Perak house price index rose from 116.6 per cent in the third quarter of 2013 to 218.2 per cent in the third quarter of 2014,” said Tony.
“Property prices in Perak have doubled since 2009. House prices are increasing 8.6 per cent annually while the average household income has increased by 5.4 per cent. This means house prices have increased faster than income, which leaves an affordability gap,” Tony added.
Executive Councillor, Dato’ Dr Mah Hang Soon, who represented the Menteri Besar, officiated at the launch. In his speech he urged developers to build properties that could meet the housing needs of Perakeans, especially the lower-income group.
“We want to see each family owning a house. The state will strive to realise this dream, as it’s part of our goal in achieving zero-squatter status,” said Mah.