Weekly Industry News

Property prices to fall

Weekly Industry News

PROPERTY prices are expected to drop as the country braces for recession and consumers tighten their spending over worries of possible job losses.

Malaysia’s GDP is expected to shrink 2% this year as it tries to contain the coronavirus pandemic, which has already crippled many sectors of the economy.

Bank Negara Malaysia (BNM) has projected the global economy will register a negative growth as the world battles to prevent the plague that has killed more than 54,000 people in the last four months. The country’s one-month Movement Control Order (MCO) has already slowed economic activities, especially in non-essential sectors.

Media Title: The Malaysian Reserve

Date: 09 Apr 2020

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