Developers Prioritise Housing Projects Over Major Development Projects

Written by: Guo Zhenhao

Like much of the world, Malaysia has had an extended economic slowdown for a couple of months now since the Movement Control Order (MCO) was put in place. Due to safe distancing measures, property transactions and viewings were virtually paused from 18 March to 12 May 2020.

Hopes Pinned on Affordable Property

Demand is projected to remain at sustainable levels for affordable property such as flats and apartments in non-gated residentials. Unbilled sales are expected to tide property developers over as MCO restrictions let up, allowing property developers to gain some financial leverage.

Developers With Bank Coverage Expected to Hold on Until 2021

Property developers backed by bank coverage expect to emerge from this economic downturn relatively unscathed. In fact, with the pandemic showing signs of recovery in Malaysia coupled with government stimulus plans, analysts are cautiously optimistic about the long-term outlook of Malaysian Real Estate Investment Trust (REIT).

Overall, property analysts and researchers are maintaining a neutral outlook for the long term.

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