Impact of COVID-19 to the Residential Property Market in Malaysia

Yew, Kai Bin (2022) Impact of COVID-19 to the Residential Property Market in Malaysia. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

During the year of 2020, one public health crisis had break out in the entire world which including Malaysia whereby our government had implemented MCO starting from March 2020. When the situation of the COVID-19 was unable to be controlled within a short period, the government had been forced to extend the restriction period which affecting the economy activity in the country, and one of the most impacted industry would be the construction industry. Therefore, this research is to determine the impact of COVID-19 toward the residential property market and does the stimulus package been announced by the government had stimulate the residential property market. Not only that, this research would be collecting the suggestion and recommendation from the respondents which able to further stimulate the residential property market. The targeted group for this research is focusing on the citizen who age 21 years old and above and benefited from the government policies. The end result show that majority of the respondents is moderately satisfied to the government policies in stimulating the residential property market during this period. The government policy that been mostly agreed by the respondents is the reintroduction of HOC and moratorium of housing loan that having the means score of 4.33 and 4.04 respectively. Lastly, the recommendation that collected from the respondents is allowing the bank to grant loan margin up to 95%, remove or reduce the RGPT, and implement stricter control on the amount of residential development approval to prevent oversupply had been discussed in the data analysis.