Penang International Property Expo or PIP 2010 is an annual showcase that attracts quality exhibitors and genuine players in the property scene. The event is marked by focus marketing and sustain a steady flow or visitors through interesting and informative talks, forums, games and other interative activities. Most importantly, the show provides the ideal exchange between smart exhibitors and discerning visitors, leading to oppurtunities for quality sales leads and closing contracts.
Michael Geh of Raine & Horne speaks to CJ Jimmy Leow on what is installed visitors and home buyers. PIP Property Summit 2010 starts on this 24th and ends on the 26th Sept 2010.
Venue: PISA, Penang
Video by Jimmy Leow
(http://malaysiakini.tv/video/20103/property-expo-promises-good-buys.html)
7 comments
Did not see the crowds in the expo on SAT & SUN...The property hype is over?
I think this is one of the lowest attendance for the last 5 years period. Moreover most of the superpower developer were not involve.
too many projects launch for the past few years and ppl have overbought and running out of cash.....
Well there are 2 possibilities at least
1) Too many property fairs in recent months before the PIP. No excitement already.
2) Wait and see attitude from buyers due to pending change in policy to cool market
But if you really look around the offerings on the projects are more or less the same from major developers....they just carry their showcase and models around. Elit 2 seems to create some excitement with Jusco model. The rest are mainly mainland or the Balik Pulau stuffs....not seeing major offering. Giving these conditions properties in prime area would see upside due to limited supply.
Those cash rich buyers should wait. If Loan to Value is reduced to 70-80% (for the 3rd property onwards), it will create competition among the banks. I guess the banks have to offer better rate to stay profitable.
Do you think the current property market is a serious state when the Prime Miniters also recognizes and talks about it?
I don't think the speculation is serious (no doubt we have seen an increased level of speculation), but you definitely wouldn't want to wait til it gets serious before doing something.
Otherwise a bubble might build up, and any anti-speculative move by the authority by then would "burst" the bubble, causing great financial instability (like what happened in the US).
So I definitely agree with a pre-emptive (pro-active) action now, rather than a re-active action later on.