Sarawak Housing and Real Estate Developers' Association (Sheda) will hold a four-day home and property fair at Bintang Megamall, from Nov 15-18.

This annual event will bring together both buyers and sellers under one roof where there would be ample choices, while giving a boost to the local property market at the same time, Sheda Miri branch chairman Simon Tiong told a press conference yesterday.

"Our focal objective is to contribute effectively to the economic and social development by creating a one-stop centre for potential buyers and investors, and bringing together housing property developers and related industries under one roof to showcase their products," he said.

Tiong said Sheda's home and property fair has gained overwhelming success over the past years, attracting exhibitors and visitors genuinely interested in investing into housing, property and related financial products.

"By holding this exhibition at the most popular shopping mall in Miri city, we believe it will attract more investors be they locals, from outstation and even from Brunei," he enthused.

He pointed out that the annual event offers opportunities for both exhibitors and members of the public to seek and identify different options available from a wide selection.

It is the place to be to have all your questions answered regarding the current property market, assess competitors and discover the latest trends, designs and prices, he added.

"These include properties ranging from high-rise dwellings such as condominiums and apartments, and landed properties like terrace houses, shoplots, Soho (small office home office) units and commercial units."

In addition, Tiong said companies specialising in building materials, banks and financial institutions are also expected to take part in the fair.

When asked whether there will be a reduction in property prices due to building materials being exempt from the Sales and Services Tax (SST), he said building materials such as bricks, cement and sand are not the only components in property construction as developers have to factor in land cost which accounts for nearly one-third of the entire cost.

In addition, there are also other costs to consider including labour and compliance costs which developers are facing in the provision of affordable housing, he said.

Tiong said he is optimistic that the property market in Sarawak will continue to remain active as the demand for residential and commercial units continues to prompt supply.

"As such, property prices are expected to continue to rise. This means that potential buyers should grab their chance at the Sheda Miri home and property fair to look for or purchase their desired house or investment property."