Weekly Industry News

Market recovery thrown off by Covid-19

Weekly Industry News

On April 29, 2020, the National Property Information Centre (Napic) of the Finance Ministry’s Valuation and Property Services Department (JPPH) released the 2019 Malaysia Property Market Report revealing that the market which has been in a prolonged slowdown, had grown by 4.8% in the volume of transactions to 328,647 units as well as 0.8% increase in value to RM141.40 billion, from 2018.

The residential sub-sector was up 6%, commercial was up 7.2%, industrial rose by 3.8% and agricultural increased by 2%. As usual, the residential sub-sector contributed the most to total transactions at 63.7%.

However, the world in 2020 was greeted by the global Covid-19 pandemic, forcing the temporary shutdown of cities and even entire countries to curb the spread of the coronavirus.

Media Title: EdgeProp.my

Date: 08 May 2020

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