Like the rest of the economy, the property market has been struggling in the face of the Covid-19 pandemic.
“The property market is like a big wheel,” he said. “Once it slows down, it is tough to turn it again. But when it does turn, it will move by itself.” But Siva said there was no data to help anyone tell how badly the Covid-19 crisis and the movement control order had affected the sector. “Transactions will drop for sure. By how much, no one knows. But I believe the Malaysian economy can get through this, and the property industry will follow suit albeit at a slower pace since property is a big ticket item.”He said growth in the property industry was likely to come from real estate investment trust companies because these are seen as a stable vehicle for property investments.
“We should also continue with a home ownership campaign so people will know that for the next 18 months, there are incentives to buy properties,” he said.
He must be from the rubber estates, damn fool !