The property market remains soft this year despite the resumption of market activity under the recovery movement control order and the proposed measures under the National Economic Recovery Plan .
According to the National Property Information Centre , the property market’s performance recorded a sharp decline in the first half of 2020, in consonance with Malaysia's economic performance, which contracted by 17.1 percent in the second quarter of 2020. However, the country's gross domestic product in Q3 decreased at a slower pace from the double-digit decline in Q2.
For 1H 2020, the property sector recorded 115,476 transactions worth RM46.94 billion, a decrease by 27.9 percent in volume and 31.5 percent in value compared with 1H 2019, which recorded 160,165 transactions worth RM68.53 billion...