The property exhibition, Property Hunter Expo 2023, held at Sabah International Convention Centre on March 10-12 has shown promising signs of a market recovery in the real estate industry. With record-breaking results, the event has sparked renewed interest in the property market, indicating that investors are again ready to invest in this sector.
Over the course of the exhibition, a total of over 263 units of property were sold, with sales amounting to over RM124 million. This is a 46% increase in units sold and 55% increase in sales amount compared to the previous year's exhibition and is a clear indication of the growing confidence of investors in the market and that the Malaysian property market is on the rise.
The event was organised by Property Hunter, a leading property media network in East Malaysia, with the support of various associations, property developers, and industry partners. PH Expo 2023 showcased a wide range of properties, including West and East Malaysian residential and for-investment properties.
One of the standout sales at the exhibition was the PR1MA projects, which saw many units sold for their own stay properties around Sabah. PR1MA, or Perumahan Rakyat 1Malaysia, is a government initiative aimed at providing affordable housing to the middle-income group. The strong sales for PR1MA projects at PH Expo 2023 are a positive sign for the government's efforts to provide affordable housing to its citizens.
Another highlight of the exhibition was the sales of landed projects, such as Taman Jelita Beringgis, a newly launched landed homes project priced at RM338K only. The project saw the most number of sales following the total sales of PR1MA projects. Other investment properties also received enormous interest from the public including Bay Suites, The Logg and Tropicana Cenang Langkawi.
Speaking about the event's success, Property Hunter Director, Mr. Victor Yong, expressed his gratitude to all the participants and visitors, saying, "We are thrilled with the outcome of PH Expo 2023. It is a testament to the strength of the Malaysian property market and the commitment of our partners and staff to deliver an exceptional exhibition experience. We are proud to have provided a platform for property developers to showcase their projects, and we are delighted that so many visitors found their dream homes at the event."
The PH Expo 2023 has given the real estate industry a much-needed boost after a period of sluggish sales due to the pandemic. The exhibition has not only shown that the market is ready to invest again but also that there is a strong demand for both affordable and investment properties.
In conclusion, the success of the PH Expo 2023 has provided a glimmer of hope for the real estate industry in Sabah. The strong sales indicate that the market is on the road to recovery, and with good policy from the government, the industry can continue to grow and prosper in the years to come.
For more information, please visit the Property Hunter website at www.propertyhunter.com.my or follow them on Facebook at www.facebook.com/PropertyHunter.com.my.