Citing Bank Negara’s statistics, MIDF Research said total applied loan for purchase of property improved sequentially by 52.9% month-on-month to RM13.1bil in May, after plunging by 64.8% month-on-month in April.
PETALING JAYA: Loan demand looks set to recover in the second half of 2020 on the back of the government’s Short-Term Economic Recovery plan (Penjana) and interest rate cuts that will improve homebuyers’ purchasing power.
MIDF Research in a report yesterday said the aggressive overnight policy rate cuts this year is positive to the sector, as it improves homebuyer’s purchasing power by reducing loan installments.
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