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.
“If the country’s economy is not good, it would not be any better in the property sector, ” Kong said.
