PENANG: A larger weekend crowd turned up on the second day of the Star Property Fair 2003 in Relau here to check out the goodies offered by exhibitors.
A competitive atmosphere prevailed as many picturesque models of dream homes set against lush greenery, mini vistas of townships and multimedia presentation of artist impressions were presented to attract customers.
The encouraging enquiries on projects either yet to be launched, or already under construction, kept developers and agents upbeat about the outlook for the property market.
Some exhibitors at the fair at the Penang International Sports Arena yesterday said that the response was good for both properties on the island and mainland.
An agent promoting a project in Seberang Jaya said he received many enquiries from residents on the island who were interested in investing in landed properties on the mainland due to the lower prices there.
“Some of them probably already have their own houses and want to invest in another house on the mainland to be rented out or maybe to buy for their children,” said Henry Butcher International Asset Consultants negotiator Lim Choon Wai.
He said the project, comprising landed properties and condominiums, had yet to be launched but the particulars of interested buyers were taken down so that invitations to the project launch could be sent.
Some exhibitors said enquiries were encouraging for both high-rise homes and landed properties on the island regardless of whether the properties were freehold or leasehold.
Several developers said they had not expected actual bookings at the fair, but were creating awareness of their projects and getting potential customers to view the showhouses.
The three-day fair, which ends today, features some 80 exhibitors taking up about 110 booths showcasing residential and commercial properties, home furnishing products and services, banks loans, consultancy services and others.
The various financial institutions taking part in the fair are just as competitive in offering low rates to attract customers into taking up home loans or for refinancing.
There were also property auctions at the function room handled by Henry Butcher.
A total of 100 properties worth some RM15mil are up for auction during the fair.
Various talks related to property matters are held at another function room conducted by professional speakers.
Other activities include a lucky draw by Hunza Properties Bhd and Guess and Win contest organised by The Star.
In the lucky draw, visitors have to fill their particulars in a form and drop them into a box.
Every two hours, two winners will be announced to claim their prize of a Tupperware hamper worth RM100 each.
In the Guess and Win contest, participants are required to guess the total value of properties auctioned throughout the three days.
Organised by The Star in line with the recent stimulus package implemented by the Government, the fair is open from 11am to 9pm. Admission is free.