KUALA LUMPUR: Visitors to the The Star Property Fair 2010 here wasted no time in snapping up properties on sale while exhibitors attracted a lot of attention with special discounts.

Ivory Properties Group corporate communication executive Lynda John said with its special 8% discount, the company sold two of its 10A Island Resort condominium units located in Batu Feringghi, Penang within a few hours.

Fair deals: (From left) Yeo with Star Publications (M) Bhd deputy group chief editor II Leanne Goh, chief operating officer Ho Kay Tat and Star Property Sdn Bhd chief Martin Chow after the launching of the Star Property Fair in Kuala Lumpur Convention Centre yesterday.

Naza TTDI Sdn Bhd also offered an 8% discount for its link villa premium property in Ampang. Its sales manager Sharifah Darnishimar Bahrin said buyers had to make a down payment of RM59,000 by the weekend to qualify for the discount.

Newly launched luxury residential condominium units Sastra U-Thant by CapitaLand and Juta Asia Properties Sdn Bhd will be sold at a 5% discount ranging from RM1,000 to RM1,476 per sq ft.

Commending the fair, secondary school tutor Soh Lian Hai, 33, said it was a great way to bring developers together to help buyers analyse prices and check out the latest offers.

Software sales executive Susan Tan, 26, said professional advice from sales representatives could help her make her final decision.

The fair is being held in Hall 4 and 5 of the Kuala Lumpur Convention Centre from 11am to 7pm this weekend.

Themed “Stylish Living II”, it features over 50 developers showcasing their latest living concepts.

Visitors also stand to win premium Dunlopillo mattresses worth RM10,000 by participating in a simple contest where participants have to answer four questions correctly and sign the words “The Star Property Fair” creatively.

The fair was earlier launched by Housing and Local Government Ministry deputy secretary-general Datuk Yeo Heng Hau who read the speech of minister Datuk Chor Chee Heung.

In the speech, Chor said the ministry had completed 49 of the 151 abandoned housing projects last year while 56 more were in various stages of being revived. Revival plans were also under way for the remaining 46, he added.

“Developers have to keep their end of the bargain by delivering the properties in time and with the promised quality products,” he said.

Chor added that the property market improved in the first half of the year and house prices, too, had increased, adding that the Malaysian House Price Index recorded the increase at an average of 4.3% .

However, the increase was much lower compared to countries like Singapore (38%), Hong Kong (24%), Taiwan (12%) and China (8.5%), he said.

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