REHDA expects Mapex-Klang Valley 2015 to generate RM1 billion in sales

PETALING JAYA: The Real Estate and Housing Developers’ Association (REHDA) expects the three-series Malaysia Property Expo-Klang Valley 2015 (MapexKlang Valley 2015) to generate about RM1 billion in sales.

Chairman of the Mapex committee, Datuk Ng Seing Liong, said Mapex, the largest and premier property exhibition for 19 years, always received a tremendous response from house buyers.

“Last year’s Mapex registered about RM563 million in sales in the Klang Valley series,” he told a media briefing on Mapex 2015 here today.

The first series will be held at Mid Valley Exhibition Centre from April 3-5; then Sunway Pyramid Convention Centre (July 31-Aug 2); and, Mid-Valley (Oct 30-Nov 1), he said.

Ng said about 240 booths had been taken up and will offer a total of 20,000 units of residential and commercial units.

The association expected to attract about 50,000 visitors for the first series, he said.

On the Goods and Services Tax (GST) starting April 1, he said, REHDA expected property prices to go up after its implementation.

“Based on our calculation, the prices of residential houses would rise by about 2.6 per cent and for commercial properties, by at least six per cent,” he said.

The GST, despite being a replacement of sales and services tax (of about 10 per cent) would be higher because of the increase in the costs of construction materials were inevitable, he said.

On the property sector outlook, he said, REHDA anticipated the sales to slow down by 30 per cent as seen in the market performance for the last few quarters. — Bernama