With regards to the property market, which is cyclical in nature, good economic growth often leads to overbuilding, which then subsequently results in a market slowdown and declining market prices. This scenario was already trending in Malaysia with a supply/demand mismatch, poor market sentiment and decreasing affordability levels, which was then compounded further due to Covid-19.

When a proactive approach is not taken to address this issue early on, it will result in structural breakdowns, leaks and mould leading to expensive rectification works.

Chur Associates founder and managing partner Chris Tan: If someone did something wrongly, it is still wrong even after the DLP.

Architect Centre accredited building inspector and trainer Anthony Lee Tee: Use your senses to see, feel, touch and smell for any abnormalities in a property. Some things are easy to notice such as paint peeling, leaks and mould on surfaces such as walls and ceilings.

Picking the right development or a development which is designed and built for sustainable or easy maintenance is the first step to ensuring a profitable property investment.

For real estate negotiators, they have learnt to stay agile and constantly engage with clients to stay relevant in the industry.

On July 2, 2020, the Subang Jaya Magistrate’s (Municipal) Court convicted and fined a defendant (defaulting strata owner) who failed to comply with an award of the SMT ordering payment of outstanding charges and contribution to sinking fund within 30 days from the date of award. The presiding Magistrate, Barath Manian imposed a fine of RM5,500 on the defendant or in default one (1) month imprisonment. The prosecuting officer was Emyshimy Rizal Nasaruddin.

Although floor premiums are attached to first-hand properties, a random check shows there has been no clear trend of such premiums for similar units sold on the secondary market.

Most of the local economists contacted are of the view that BNM is unlikely to trim OPR for the rest of the year. It will only do so if the Covid-19 outbreak worsens.

Over the last few years, the Malaysian property market has been characterised by sluggish sales and a rising number of unsold homes. Developers are sitting on large stocks of inventories, which are stretching their balance sheets, funded by borrowings from banks, and the debt and capital markets, including issuing perpetual securities. The sector’s poor outlook is reflected in the low valuation of property stocks, most of which are trading at around one-third book value.

How did this situation come about?