Beyond our shores, it goes without saying the hotel industry is similarly in deep water as it is a sector that relies heavily on foreign travellers as its main income source.

Malaysian Association of Hotels (MAH) CEO Yap Lip Seng expects that without government assistance, the extension of the travel ban would cause another 10% to 20% of hotel closures with more employees losing their jobs.

Datuk Chang Kim Loong: In the context of the SMA, the awards and the grounds of awards handed down by the Tribunal can serve as an invaluable source of reference for the public.

“If you have been renting a place for RM1,500 per month here on OKR, with the same amount of money, you could consider buying a unit now as there are ample affordable choices in OKR,” says CID Realtors Sdn Bhd real estate negotiator Joseph Tin.

Amongst all segments, terraced houses recorded the highest price growth of 78%, where average selling price (psf) increased to RM478 from RM268 in 2012, while bungalows and semidees recorded price growths of 48% and 29% respectively.

The 11km OKR is one of the oldest and busiest thoroughfares in KL.  It is also home to some of the oldest and most established housing areas in KL like Taman OUG and Taman Desa — with sought-after homes still commanding great value for their proximity to the city centre.

While such measures have effectively reduced health risks, they have also come with high economic costs.

Interested in auction properties?

“The pandemic has accelerated the use of technology in the operation of auction houses.”

A check with auction houses show that indeed, prices on the foreclosure market have slumped to as much as 30% to 40% below market value.