PETALING JAYA – The Real Estate and Housing Developers’ Association (Rehda), along with the government, is co-organising a massive property carnival next month, kickstarting the revival of the property market which went largely dormant in the past two years due to the Covid-19 pandemic.
Known as Karnival Jom Beli Rumah, the campaign is scheduled to be held from July 15 to July 17 at Mid Valley Exhibition Centre, Kuala Lumpur, and will showcase properties starting from RM250,000.
The carnival, which sees the participation of 20 property developers, will also be joined by six other financial institutions as well as government agencies such as the Public Sector Home Financing Board, the Credit Counselling and Debt Management Agency, and the Employer's Provident Fund.
Rehda acting president Datuk NK Tong said the past two years have not reflected an encouraging trend in the property segment, but they remain optimistic as the economy slowly reopens.
“For the property segment, there were some sales virtually, but people like to touch and feel, look at the properties and kick the tyres, so to speak.
“So, we hope this exhibition will spark off the reopening of the property segment,” he said.
When asked about buyers’ concerns about the revised rate for the Overnight Policy Rate which now stands at 2.00% – a 0.25% hike compared to its previous rate – Tong said this was merely a reflection of rising inflation globally.
However, Tong said property remains a safe asset to hedge against inflation.
National Housing Department director-general Datuk N. Jayaselan said the campaign encourages home ownership among the people by allowing them to browse properties within their financial capability.
“This platform is a combination of spurring growth in the private sector, subsequently reviving the economy, and fulfilling the needs of the public based on their affordability.
“So, this is just a stepping stone. Coming out of the pandemic, people can gauge whether their affordability can match the price offered by the industry and measure for themselves.
“So, if there is a match, we have banks and other financial institutions at the carnival that can help them to review their credit ratings and loan amount,” said Jayaselan. – The Vibes, July 6, 2022
