Despite reports suggesting that values of property in Malaysia may be set for a correction, there was no evidence of this at the recent Star Property Fair in Penang. The popular Malaysian location recently saw a 25 per cent increase in exhibitors at its popular annual property fair.
Ninth annual property fair showcases property in Malaysia
The ninth annual Star Property Fair in Penang showed that the property market in Penang was still vibrant. The fair is hosted by Henry Butcher Malaysia (Penang) Sdn Bhd and by the Star newspaper group. Group managing director of Star Publications, Ho Kay Tat, said there were 36 exhibitors compared with 29 last year.
On opening the four day exhibition at the G Hotel in Penang, he said: ââ¬ÅWe can expect a turnout of more than 30,000 visitors to the fair this year.ââ¬Â
The Star newspaper has been organising these events since the 1980s. Mr Ho added: ââ¬ÅWe started out doing education fairs and we found that such events can be very successful and popular.ââ¬Â
Penang property prices have risen over recent years
The exhibitors showcasing their property in Malaysia include most of the major players in the market as well as several financial institutions.
The Star report that ââ¬Ëkey exhibitors include IJM Land, Sunway Grand, Mah Sing, Ideal Property Development, SP Setia Group, Boon Siew Group, Ivory Properties Group, Nusmetro Venture, MTT Properties & Development, Reka Indah Develop- ment, Belleview Group and DNP Land.ââ¬â¢
Prices in Penang have been rising over recent years meaning that it has been an excellent place to buy an overseas property investment. This was reinforced by Goh Ai Lin, a visitor to the property fair looking for an apartment on the island. He told the Star that he ââ¬Ëlamented that property prices in Penang were going up year after year.ââ¬â¢
