Huge impact of Covid-19 and oil prices on property

Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, Malaysia president Michael Kong said: “If the country’s economy is not good, it would not be any better in the property sector."

PETALING JAYA: The novel coronavirus disease (Covid-19) coupled with the fall in oil prices over the weekend and other issues are affecting an already-weak property sector, according to property consultants and sources.

“The impact on the overall Malaysian economy and its trickle-down effect on the overall property market is very, very huge, ” said Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, Malaysia president Michael Kong.