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Investor concerns over COVID-19 may affect Johor property market in 1Q

KULAI (Feb 14): 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.

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, near here, today.

He was commenting on the COVID-19 impact on the Johor property market, especially those that attracted foreign buyers.

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.

To date, Singapore and China are among the top 10 countries buying properties in Malaysia for investment purposes.

Earlier, Dzulkefly attended the Info on Wheels (IOW) programme organised by the Johor Information Department's Mobile Public Announcement Unit where he also distributed leaflets on COVID-19 to the community surrounding the supermarket to increase awareness on the decease.

To date, 86 IOW programmes had been organised in the state to create awareness among the community on programmes that are benefiting the people, including mySalam, Skim Peduli Kesihatan for the B40 income group and i-Suri.

Click here to see commercial properties for sale in Johor.

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