Weekly Industry News

Secondary property market at a standstill

Weekly Industry News

TRANSACTIONS in the secondary property market have stagnated as house buyers and investors are more focused on leveraging the benefits of the government-backed Home Ownership Campaign (HOC) offered only in the primary market.

Malaysian Institute of Estate Agents (MIEA) president-elect Chan Ai Cheng said the secondary market was severely affected by the Movement Control Order (MCO) as physical property viewing, which is a must for sub-sale homes, was made logistically complicated for buyers.

“Property tour is a must in order to allow potential buyers to see the upkeep, interiors and renovations made to the property on offer, among other factors.

Media Title: The Malaysian Reserve

Date: 21 Sep 2020

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