39,000 houses worth RM4.11b sold via Mapex

KOTA BAHARU, Feb 2 (Bernama) -- The Real Estate and Housing Developers Association (Rehda) Kelantan Branch sold 39,355 houses worth RM4.11 billion through the Malaysia Properties Expo (Mapex) held yearly over the past 10 years.

However, demand for houses dwindled of late due to global recession that impacted Malaysia's economy, said State Rehda chairman Sekarnor Che Omar.

"Demand has dropped by about 30 per cent though the overall property market is still stable," he told Bernama.

Last year, a total of 1,774 houses costing RM210 million were sold by Rehda members as compared with 2,044 units worth RM237.2 million in 2008 and 5,020 units in 2007 valued at RM448.4 million.
Sekarnor said housing developers' profit margin has been affected by spiralling prices of raw materials, particularly cement, steel and labour costs.

Established in 1999, Kelantan Rehda has 33 members comprising local housing development companies, including subsidiaries of State Economic Development Corporation - Binaraya PKINK Sdn Berhad and SPP Development Sdn Berhad.

Sekarnor hoped more houses would be sold during the four-day Mapex 2010 beginning Feb 12.

By Bernama