Covid-19 pandemic hit the nation and businesses badly in the last two years. The years 2020 and 2021 to date have been affected. Considering that, the resilience shown in the property sector can be deemed to be better than expected.

The recovery has taken its toll. Extended lockdowns have created massive layoffs and business recovery is still in the early stages.

Data from the National Property Information centre (NAPIC) shows that there was a drastic drop in volume and value of transactions from 2019 to 2020; essentially dropping from 328,647 transaction at a value of RM141.4billion (2019) to 295,968 transactions with the volume of RM119.1billion only highlighting the biggest drop in recent years of 9.94% in volume and 15.79% by prices. A more detailed analysis shows that the 2H2020 did better than 1H2020 increasing from 115,476 transactions to 180,492 transactions during the period and improving from RM47.Obillion to 72.1 billion. This clearly shows that the latent demand for real estate had overcome the problems created by the first Movement Control Order in the second and third quarter of 2020.

As stated last year, the situation did not get any worse. The market recovery in the 1H2020 did not affect the 2H2020. The data obtained for the 1Q2021 shows that this healthy trend continued into 2021; the volume of transactions for the 1Q2021 was 80,679 transactions with a value of RM36.09 billion. The property market continued to be stable.

However, the nation was badly hit by another MCO when the pandemic reared its ugly head and spiked the covid attack even more. The number of affected persons increased past 20,000 persons per day. There are concerns that the 202021 onwards the real estate maybe equally affected as in the 1H2020.

Much was expected from the new government in the uplift in the economy and the implementation of development projects. We note that the government is still trying to improve the economic situation. The government has set a National Recovery Committee to review and re look into measures that assist and push the recovery at a greater pace.

The political situation also did not help. Uncertainties in various areas affected the business environment. There is still a cautious mood in the real estate sector.

The overhang situation has been highlighted again, even to the extent to claim that the current situation is becoming worse. Several minis tries within the government have engaged themselves in overcoming this situation. Although the situation may not have been as bad as it was in 1999, the current players are becoming more vigilant.

Much concern is being shown in the recent announcements on the Malaysia My 2nd Home (MM2H) program. This was an initiative to attract foreigner who have the financial ability to live in Malaysia for extended periods and enable them to invest in a home and other matters. Discussions are still afoot on how best the matter can be resolved for the benefit of the rakyat.

Calls have been made by professional bodies that more research, more big data analysis and more transparent sharing of information are more essential today than they were in the past. There is a dire need for the active players, lending institutions, government agencies, implementers to work together in ensuring that the scarce real estate resources are utilised as they should and wastage of any form must be contained.

The Ringgit has been worsening over a long period, the oil palm prices have started picking up a bit but generally the economy internationally and in Malaysia has been slow. The questions we posed last year continue to plaque us this year. Are we seeing a fundamental improvement in our economy and is the property market supported by strong fundamentals? Are we going to see an upward swing? What measures are needed to contain overhang? How can the government play key role in ensuring afordable housing? Is the property market poised to ride on the general growth of the economy? What factors must the major players look into? What regions will grow? What sectors will take off? Or are we in for a continued sluggish non-directional move in the real property sector?

Our speakers will address some of the ills affecting the market. This will be bolstered by data and information from the real experts in the real estate industry. Hear the experts discuss.

Also dealing in detail on the commercial office and retail markets are experts who use their very exhaustive data banks and research departments to analyse and provide a framework for easy understand ing and careful decision making.

These are some of the areas that will be discussed in depth at the 14th Malaysian Property Summit this October 2021. For these reasons it will remain one of the most anticipated events each year. Analysts, developers, bankers, Government organisations have always been keen supporters of this event.

This is the Summit of the property market, for the property world, by the property people put together by the very industry people, to whom property people turn to when they need advice, consultation, research and analysis, testimony, professional opinion, expert witness and evidence, support and prognostication on the property market.

The Association of Valuers, Property Managers, Estate Agents & Property Consultants in the Private Sector Malaysia (PEPS), the body that represents the reputable and established private valuation and consultancy practices, has come together to provide the Malaysian Property World with the width and depth of its accumulated research and analysis, prognosticate for this coming year, 2020, the expectations of movements, fluctuations and changes that can be expected to happen in the property market, and the reasons for it.

The objective of this Summit, as in previous years, is to present to the Malaysian Property Industry and players an authoritative view of the state of the real estate industry. As valuers, land economists, property consultants, real estate investment analysts, and, by and large, the only people trained and paid to judge the market and the outcomes, and the only people who have an in-depth knowledge of what is happening in the market, the speakers would be able to tell the world at large exactly what has been happening, and how the market is to behave and perform. The databases of the major property consultancy firms will be thoroughly examined and in-depth research built into the prognostications that will be presented by the industry's key idea-men.

We have identified experts who specialises in a particular property sector to provide the participants with the best answers to questions asked or lurking in the minds of bankers, developers, analysts, investors, decision makers, institutional agents, fund managers and others.

• For each sector, each speaker will do the following:
• Outline the historical background with data and analysis;
• Geographical spread and classifications;
• Relative importance to the industry:
• Relationship to the economy and market;
• Highlight the last three years' activities;
• Give an opinion on what has happened including an analysis of the drivers affecting it;
• Outline the key drivers that will drive the market in the future;
• State his opinion on what direction the market will take based on his analysis.

The 14th Malaysian Property Summit 2021 is a Property Conference not to be missed and we look forward to your attendance.