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Malaysia Housing Market update, post COVID pandemic 2020 survey

Posted By Chada Trithavornyuenyong on September 23, 2020 in Global Real Estate

MAYLAYSIA

This is a quick housing update for Malaysia for the third quarter of 2020.

Are sales up or down (hard numbers) during the continuing COVID crisis? What about prices? 

  • Overall, the housing market remains soft for 2020 due to the pandemic.
  • Real Estate market is seeing a rise in sales and prices post COVID lockdown. 
  • Housing market is facing oversupply issue with prices falling.
  • Housing prices will vary per districts and provinces.

Are new construction projects moving forward (housing start numbers)?

  • New constructions projects are have been down for 2020.

What status of the COVID pandemic for Malaysia and the government's continued response?

  • COVID situation remains under control. Malaysian government warns that everyone should stay alert and continue keeping social distancing. 
  • Restrictive movement control has been extended till 31st December 2020.
  • Airport remains closed to foreign visitors, except for business purpose, special permission, and work permit. Mandatory 14-days state quarantine applies.

 

Boon Ping Lim

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