Primary property prices may drop 15% post-moratorium

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Property experts say the drop in property prices will likely be limited to new launches of affordable units.Property prices in Malaysia, particularly the primary market, are likely to be sluggish following the Covid-19 pandemic.In the post-moratorium context, questions are being asked as to whether this will be the result of developers marking down prices due to cash flow constraints or because of weak market demand.Metro Homes Realty Bhd executive director See Kok Loong told Property Advisor that while house prices are projected to fall, it won’t fall dramatically.“Yes, prices will drop, and developers will be willing to reduce prices post-moratorium. But this will mainly be restricted to new launches of affordable units.“What they need at the moment is cash flow as it is more important than profit,” he said.During the three-month MCO period, and the two months that followed,…