The economic slowdown that Malaysia will experience because of the current pandemic will see the property market correct itself, while demand and prices decline, says CCO & Associates’ report titled “QuarterlyMalaysian Property Market Review” for the first quarter of 2020.
“Malaysia has undergone two economic recessions over the past25 years: the Asian financial crisis in 1997 and the global financial crisis in 2007. The Asian financial crisis had the worst impact on the Malaysian property market, causing the Malaysian House Price Index (MHPI) to decline 9.4% and 2.3% in 1998 and 1999 respectively,” the report said.
