Grim outlook for property sector post-pandemic

Bernard Saw

The Covid-19 pandemic has caused many countries to enter recession, and a property industry player says this may be the worst economic crisis of the last 100 years. – The Malaysian Insight file pic, April 12, 2020.

PROPERTY sales have plunged more than 50% in recent weeks, with fears of further losses due to the movement-control order (MCO) and a larger economic impact from the Covid-19 pandemic, said real estate agents.

They told The Malaysian Insight that they had anticipated a good year ahead following increased sales in December and January, but this run came to an end with the virus outbreak.

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