Real Estate and Housing Developers’ Association (Rehda) Malaysia president Datuk Soam Heng Choon confirmed that there’s a high possibility that the government will launch HOC 2020 to spur homebuyers’ interest.

Rehda Malaysia president Datuk Soam Heng Choon: Throughout the 50 years of our formation, we have played a vital role in the betterment of the property industry and nation, by being a key partner to the government in its various initiatives.

“HOC有效地提高市场需求和减少现货。我们要求政府展延HOC，因为这是有助减低发展商和房屋买家支出，且提振市场购兴的方法，而报告书的数据也证明了这是个有效的办法。“

For the property industry, like most sectors which were considered non-essential, business came to almost a standstill during the full MCO period. If not for the Covid-19 outbreak, the 2019 market performance could have indicated a light at the end of the tunnel for a property market which has been in a slowdown since 2015/16.

"The estimated cost per swab test is around RM350 to RM650 per person, depending on volume. The high cost per person translates to a considerable amount that contractors need to bear as a construction site typically has hundreds of workers. This would incur heavy costs to construction companies, adding to all other mobilisation costs as well as losses since the beginning of the Movement Control Order (MCO) on March 18," they said.

大环境艰难，本地房地产市场能否渡过这个难关？我们是否能靠总结过往的经验，来应对当下前所未见的危机？

In a joint statement, the presidents and chairmen of the chambers of commerce and associations said they share the conviction that it is critical for business operations to be resumed nationwide while encouraging all state governments to follow the federal government’s decision and restart the economy, given the close interlinking of supply chains between states.

“We understand that in working under the new normal, a lot of challenges will be encountered. Your patience and tolerance will be needed to weather this storm.”

The 2019 Property Market Report stated that unsold and not constructed serviced apartments have been reduced to 7,659 units in 2019 from 12,864 units in 2018.

To provide a much needed boost to the property sector in light of the current downturn amid the Covid-19 pandemic.