The Real Estate and Housing Developers Association (REHDA) - Penang branch anticipates the upcoming Home Ownership Campaign - Malaysia Property Expo (HOC-Mapex), to be held from April 12-14, will be more successful than the previous edition.
Mapex organising chairman Ng Chin U said 20 property developers would be participating in the upcoming event, showcasing more than 3,000 units of properties worth over RM3 billion in total.
He said that properties such as double-storey bungalows, double-storey semi-detached houses, larger double-storey terraces and condominiums on the island and mainland would be featured during the event.
"On the island's side, the properties to be showcased are located in Balik Pulau, Teluk Kumbar, Georgetown and Jelutong. "On the mainland, we have interesting projects such as the SP Setia's integrated township in Seberang Perai, and some projects in Bukit Tambun, Batu Kawan, Sungai Bakap and Nibong Tebal," added Ng.
Its chairman, Datuk Toh Chin Leong said during the last Mapex Penang, which was held from Feb 7-10 this year, many were still unclear about the stamp duty exemption for residential properties sold between Jan 1 and June 30, 2019.
He said residential properties priced between RM300,001 and RM1 million (before discount) were eligible for stamp duty exemption, while those priced above RM1 million would be charged a stamp duty of 3%.
"However, with the stamp duty exemptions being clearly announced, we now have more developers coming in to take part in the upcoming HOC-Mapex Penang to showcase their properties and offer attractive incentives," he told a press conference.
Aside from the stamp duty exemption for residential units, Toh said the incentives include a minimum of 10% discounts for all properties, extra rebates, renovation packages and special packages by individual property developers.