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Penjana’s measures help property market to recover to pre-Covid-19 levels | Malay Mail

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KUALA LUMPUR, June 15 — The government’s measures under the short-term Economic Recovery Plan (Penjana) to address the property gaps are much-needed catalysts for the market amid larger unemployment and recession woes, said PropertyGuru Malaysia country manager Sheldon Fernandez. In a statement...

Monday, 15 Jun 2020 05:55 PM MYT

In a statement today, he said the deficit spending approach taken by the government is an established strategy in addressing potential recession trends, laying the foundation for the property market to return to pre-Covid-19 crisis levels. He said the pre-crisis asking prices were on the uptrend in May, as the web traffic for properties priced from RM501,000-RM700,000 and RM701,000-RM1 million on PropertyGuru.com.my grew by 10.4 per cent and 12.7 per cent, respectively.

“However, some clarity is required when executing these provisions. Do stamp duty exemptions apply to new launches as well as overhang units? If so, it may be difficult to reduce the overhang even with HOC 2020,” said Fernandez.

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Nonsense! MOFmalaysia has not done anything worthwhile for the property market! tzafrul_aziz has no clue. The market will utterly collapse once the loan repayments moratorium ends. BNM_official will be raking up non performing loans at a never before seen rate! Get ready.

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