End of loan moratorium and property market’s fate

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Experts expect a rise in non-performing loans as many Malaysians face pay cuts and retrenchments.The Ministry of Finance introduced a six-month loan moratorium starting April 1, under which bank loan repayments were deferred until September. This was a relief for Malaysians grappling with pay cuts, retrenchment or loss of business due to the Covid-19 pandemic and the subsequent Movement Control Orders. Property buyers are guessing that prices will decline tremendously after the moratorium ends after next month. (A targeted moratorium extension for a further three months will kick in for those who have had their pay cut or have lost their jobs.) Some developers have already begun to offer incentives such as cashback, discounts or rebates (some up to 30%), payment plans and free furniture and electronics. Currently, property prices remain high, apart from a few auction units. How wi…