Pandemic yields fewer-than-expected property auctions

Khoo Gek San

Experts believe bank loan repayment moratoriums have helped to save many a property from going under the hammer during the pandemic. – The Malaysian Insight file pic, June 21, 2021.

THERE were fewer than expected property auctions last year during the pandemic but there could be an uptick later this year.

According to AuctionGuru, the largest auction information network in Malaysia, auctions decreased by 25% in 2020 compared to 2019. Last year saw 27,541 auctions with a total value of RM14.25 billion while 2019 had 36,645 auctions with a combined value of RM19.84 billion.

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