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Goodbye to an Annus Horribilis 2020 and Welcome to a Better Year

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Goodbye to an Annus Horribilis 2020 and Welcome to a Better Year OCTOBER - DECEMBER 2020 moratorium at the end of September which afforded temporary relief to Goodbye to an Annus businesses as well as individual borrowers will likely result in a spike in non-performing loan cases which may Horribilis 2020 and Welcome lead to increased business closures, staff retrenchments and property auctions. The government has tried to to a Better Year Ahead? mitigate the situation by introducing a targeted moratorium programme As we approach the last lap into subsequently tightened to require those where those in need may still be able the end of 2020, a third wave of the in the management and supervisory to approach their banks to structure an Covid-19 pandemic has hit Sabah as categories to work from home with the extended moratorium or deferment of well as the Klang Valley and to curb the exception of those in the front line and loan repayment. spread of the virus, the government has those providing essential services. implemented a Conditional Movement How will the situation impact the Control Order (CMCO) lockdown on The uncertain political situation at property market? The data released Sabah and Kuala Lumpur/Selangor/ the federal level where leaders of by the Valuation & Property Services Putrajaya where inter district and out both sides of the political divide Department of the Ministry of Finance of state travel is prohibited unless claim to have the majority numbers (JPPH) on the performance of the necessary and supported by a letter and the right to govern the country property market in the first half of 2020 from one’s employer. have compounded the situation and has shown the drastic impact of the distracted the government from its pandemic and the implementation All businesses are however allowed to focus of navigating the economy safely of the MCO on the market. The report continue to operate but must abide through the pandemic which has released by JPPH showed a big drop by the SOPs which initially were a little wrought havoc on most businesses. of 27.9% in the volume of overall less stringent than what was imposed transactions and a 31.5% decline in the during the previous CMCO but The coming to an end of the loan value of transactions. 4TH QUARTER EDITION 2020 Project Marketing Auctions & Tender Sales T: 603-2694 2212 F 603-2692 5771 T: 603-2694 2212 F 603-2694 1292 E: [email protected] E: [email protected] Real Estate Agency Art Consultancy T: 603-2694 2212 F 603-2694 1261 T: 603-2691 3089 F 603-2602 1523 E: [email protected] E: [email protected] Market Research & Development OUR OFFICES Consultancy KLANG VALLEY | Subang Jaya • Ampang • T: 603-4270 2072 F 603-4270 2082 Mont Kiara | NEGERI SEMBILAN | Seremban | E: [email protected] KEDAH | Alor Setar • Kulim | PENANG | Island Publisher • Butterworth • Seberang Perai | JOHOR | Henry Butcher Malaysia Sdn Bhd Retail Consultancy Johor Bahru • Kluang • Muar • Pontian | 25, Jalan Yap Ah Shak, T: 603-9130 5550 F 603-9130 4003 PAHANG | Kuantan | MALACCA | Melaka | Off Jalan Dang Wangi, E: [email protected] TERENGGANU | Kuala Terengganu | PERAK | 50300 Kuala Lumpur Ipoh | KELANTAN I Kota Bharu | SABAH | Kota T: 603-2694 2212 Facilities & Asset Management Kinabalu • Sandakan • Tawau | SARAWAK | E: [email protected] T: 603-6205 3330 F 603-6206 2543 Kuching • Miri W: www.henrybutcher.com.my E: [email protected] Publishing Agency OUR SERVICES Plant & Machinery Consultancy Rightwiz Sdn Bhd Valuation T: 603-2694 2212 F 603-2694 3484 T: 603-2694 2212 F 603-2694 3484 E: hbmalaysia_pnm@henrybutcher. Printed by KDN PP18893/11/2015(034373) E: [email protected] com.my Percetakan CL Wong Sdn Bhd AS-84, Jalan Hang Tuah 4, Taman Salak Selatan, 57100 Kuala Lumpur. stimulus packages introduced by the government, is still at a very fragile stage. The emergence of a second and third wave of the Covid-19 pandemic in China, Europe and Australia and the still ravaging spread of the virus in USA, India and Brazil are sombre moments to ponder upon. The disruptive trade war between China and the USA has a drastic impact on the global economy and the divisive fight for the presidency of the USA and the uncertainty of a smooth handover of power if Trump loses are all causes for concern for investors. A foreseeable slow recovery in the horizon. The recovery of our Ringgit and the better performance of the KLCI When the MCO was implemented We were told that the prospective compared to last year have brought in March, all businesses except for buyers for one of the projects were told a sense of relief to investors and those offering essential goods and to continue queuing only if they had businesses in the country but the fall services had to close and this included a cheque with them prepared for the in crude oil prices have impacted property developers’ sales offices and first 10% of the purchase price which Petronas’s income and therefore, the sales galleries as well as construction was quite a tidy sum considering that Malaysian government’s as well. sites and so for a period of about three the selling prices of the units were of months, there were no sales activities quite a substantial value. Whilst all this In conclusion, although the second although some developers managed seems to suggest that the market has half of 2020 should see a better to collect bookings via their online turned the corner and is on the road to performance of the residential property marketing programmes. recovery, the question begs whether this market, the year is still expected to end recovery is broad based and can be with a reduced volume and value of As lawyers’ offices were closed during sustained or is only a temporary respite transactions compared to 2019 due the MCO, buyers were not able to sign brought about by the implementation to the loss of three months of sales their sale & purchase agreements of the new Home Ownership Campaign activities. We expect a full recovery and thus, no sales were recognised (HOC) 2020 with its attractive discounts, to only take place in the second half during this period. This has resulted in freebies, easy entry schemes, stamp of 2021/early 2022, provided there is the volume of residential transactions duty waivers and the current low interest no global recession and the country’s recorded for the first half of 2020 rate environment. political uncertainties do not drag on dropping by 24.6% and value wise, for too long. declining by 26.1%. To us, there are still a lot of uncertainties which abound and the The market, as expected, has country’s economic recovery, even Tang Chee Meng worsened in the second quarter with the boost provided by various Chief Operating Officer compared to the previous quarter with the implementation of the MCO. In response to the softer market conditions, the first half of 2020 also showed a drop of 43.6% in the number of new units launched compared to the corresponding period the year before. Sales performance also saw a deterioration from 30.9% in the first half of 2019 to only 3.3% in the first half of 2020. What lies ahead for the remainder of 2020 and the following year? With the relaxation brought forth by the Restricted MCO (RMCO), developers were able to resume their sales activities and this has led to some successful launches by a number of developers. There were even a couple of new launches where prospective buyers had to queue overnight just to ensure Will the targeted loan moratorium help to ease the burden of the people given that they secure the unit of their choice. prevailing challenging environment? HENRY BUTCHER REAL ESTATE SDN. BHD. No.199201004957 (236461-w) Bungalows and Service Residences For Sale and Rent RM6,500,000.00 (nego) From RM4,200,000.00 (nego) RM2,800,000.00 (nego) Sierramas, Sungai Buloh Nadayu, Taman Melawati Bandar Mahkota Cheras Type Bungalow Tenure Freehold Type Bungalow Tenure Freehold Type Bungalow Tenure Freehold Built-Up 8,000sf Land Area 9,990sf Built-Up 7,900sf Land Area 8,100sf Built-Up 6,000sf Land Area 7,700sf Bedroom 5+2 Bathroom 6 Bedroom 5+2 Bathroom 8 Bedroom 7 Bathroom 7 Furnishing Partly Furnished Furnishing Partly/Fully Furnished Furnishing Fully Furnished Linda Ooi (REN09433), 012-2363065 Christine Chua (REN09437), CK Lum (REN09439), 016-3028936 Nigel (REN09436), 012-3960307 012-3142864 RM6,000,000.00 From RM1,700 to RM2,110 per sq ft From RM3,000 per sq ft Sierramas East, Sungai Buloh Le Nouvel, KLCC Four Seasons, KLCC Type Bungalow Tenure Freehold Type Service Residence Type Private Residences Built-Up 6,332sf Land Area 8,330sf Tenure Freehold Tenure Freehold Bedroom 6 Bathroom 6 Built-Up from 1,700sf Built-Up from 1,098sf Furnishing Partly Furnished Bedroom 2/3 Bathroom 2 Bedroom 1/2/3 Bathroom 2 / 3 CK Lum (REN09439), 016-3028936 Furnishing Partly/Fully Furnished Furnishing Partly/Fully Furnished Christine Chua (REN09437), Christine Chua (REN09437), 012-3142864 012-3142864 From RM3,800,000.00 From RM900 per sq ft From RM1,600,000.00 Oval, KLCC Suria Stonor @ Persiaran Stonor, KLCC Tropicana Residence KLCC Type Service Residence Type Service Residence Type Service Residence Tenure Freehold Tenure Freehold Tenure Freehold Built-Up 3,700sf Built-Up From 3,700sf Built-Up from 700sf Bedroom 3+1 Bathroom 4 Bedroom 3, 4 Bathroom 5,6,7 Bedroom 1/2/3 Bathroom 1/2/3 Furnishing Partly/Fully Furnished Furnishing Partly/Fully Furnished Furnishing Partly/Fully Furnished Christine Chua (REN09437), Christine Chua (REN09437), Christine Chua (REN09437), 012-3142864 012-3142864 012-3142864 Nigel (REN09436),
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