The Effect of Covid-19 Pandemic on Malaysia Property Market

THE EFFECT OF COVID-19 PANDEMIC ON THE MALAYSIAN PROPERTY MARKET 

Assoc. Prof. Dr. Shazida Jan Mohd Khan (Project Leader)

Assoc. Prof. Dr. Wong Woei Chyuan

Assoc. Prof. Dr. Siti Nurazira Mohd Daud

Dr. Edie Erman Che Johari

Dr. Mohd Yushairi Mat Yusoff

(Universiti Utara Malaysia)

ABSTRACT

The economy has experienced several crises in the last decades and 2003 is the only one related to a disease outbreak, the severe acute respiratory syndrome (SARs) epidemic. However, the economy is again experiencing an unprecedented crisis which is associated with negatively impacting people’s mental health, reducing income in households and poverty, affecting sectors in the economy, and halting many activities. Efforts by the government with multiple modifications solely intended to minimize the impact on the economy while saving lives and protecting their livelihoods have made it difficult for policymakers to balance between health and economic sustainability. The response towards COVID-19 has a definite impact and looking into the historical trend of responses adaptation and adjustment in each pandemic and endemic responses have different impacts strongly on the economic activities.

Keywords: COVID-19, REITs, property market, movement control order, vaccination