More homes are expected to be offloaded post moratorium period

27 July, 2020

PETALING JAYA (July 27): Despite government incentives in economic packages and economic recovery plans, Nawawi Tie Leung Property Consultants anticipated that more residential properties are expected to be offloaded in the market as loan moratorium period ceases in end-September.

This article first appeared in View source here.

In its 2Q2020 market report entitled “Investors remain vigilant in the midst of Economic Recovery Plan”, the consultancy firm reckoned that there will be heightened risk of loan defaults as unemployment is on the rise and without significant economic improvement.

“In the coming months, with the expectation of no extension on the moratorium or extension given only to selected recipients, more properties are expected to be offloaded in the market. There might be downside pressure on prices, which provides opportunities for prospective buyers to purchase properties at a bargain,” the report said.

Nevertheless, Nawawi Tie Leung believed that the potential homebuyers are likely to adopt a wait-and-see approach before they proceed with their purchase to secure the best deals, coupled with concern on the economic and political uncertainties.

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