GEORGE TOWN: Botanica. CT, a garden township in Balik Pulau, has attracted hundreds of enquiries at the StarProperty.my Fair 2018 at Queensbay Mall.
Zeon Properties business development director Suten Ooi said that Phase 5 homes comprising 45 semi-detached houses and 12 bungalows were fully furnished and priced attractively between RM713,000 and RM1.7mil.
The units will get their certificate of completion and compliance in July.
“People are attracted because the homes are ready and equipped with a dry kitchen, security system with autogates, and air-condition units for all the rooms,” Ooi said.
Zeon Properties is marketing Botanica. CT by MTT Properties & Development, the City of Dreams by Ewein Zenith, and My Sakura 28 in Permatang Damar Laut on the island at the four-day fair which ends today.
Zeon Properties chief executive officer Leon Lee said the firm sold RM13mil worth of property in the past three days.
“Although interest rates for loans have increased, there are still people looking for property, which is a healthy sign,” he added.
Visitor Y. K. Tan said he was looking for a home near Bayan Lepas.
“The price range should be between RM500,000 and RM700,000 and as long as the location is right, the higher interest is not an issue,” he said.
Following Bank Negara’s decision to raise the overnight policy rate (OPR) by 25 basis points, banks raised their lending rates to 3.25% from 3% previously.
For example, Malayan Banking Bhd (Maybank) revised its base rate from 3% per annum to 3.25%, and its base lending rate to 6.9% per annum from 6.65% per annum.
Current housing interest rates hover around 4.65% compared with 4.25% previously.
A total of 17 exhibitors are at the fair including 15 developers.
The developers are SPNB Aspirasi Sdn Bhd, Mah Sing Group Bhd, Ewein Zenith Sdn Bhd, Iconic Land Sdn Bhd, Regata Maju Sdn Bhd, JKP Sdn Bhd, SP Setia Bhd, MTT Properties & Development, Galeri Tropika Sdn Bhd, Devoteshens Sdn Bhd, Binwan Development Sdn Bhd, Bertam Properties Sdn Bhd, Corfield Development Sdn Bhd, Penang Development Corporation and Pembangunan Rasa Sempurna Sdn Bhd.
The other two exhibitors are Property Talk and East West One Marketing Sdn Bhd.