Investor concerns over Covid-19 affecting Johor property market
Published on: Saturday, February 15, 2020
By: Bernama
File photo from Bernama.
KULAI: The Johor government does not rule out the possibility that the property sector in the state could be impacted following investor concerns of a prolonged Covid-19 outbreak that has spread to several countries, including Malaysia.State Housing, Communications and Multimedia Committee chairman Dzulkefly Ahmad said hence, the state government would continue to monitor the development of the property market in Johor.
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He said the state government is ready to set up a special taskforce to evaluate the Covid-19 impact on the property sector to get a clearer picture.
“I won’t rule out out any probability because the impact of Covid-19 to the economy is very clear, especially in the tourism sector.
“Properties could also be impacted if the situation were to prolong for three to six months. I think it will have an impact on the property industry, especially those that involve foreign buyers,” he told reporters when met at TJ Mart, Saleng.
He was commenting on the Covid-19 impact on the Johor property market, especially those that attracted foreign buyers.
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Dzulkefly said foreign investor concerns were also caused by a prohibition imposed by some countries on their citizens from travelling to Malaysia even though the Covid-19 infection in the country is still not at a serious stage.
“We will look at the statistics from the National Property Information Centre (NAPIC) in the first quarter, as NAPIC will also be releasing the monthly property transfer statistics, including its volume, dollar and cent,” he said, adding that a follow-up action would be taken, if necessary.
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