Tag: transactions down and prices up
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Down 20% up 45%, down again by 20% and up again by 45%
According to Raine & Horne Malaysia (Penang) senior partner Michael Geh, during the 1986 recession, property prices dropped 20% over a two year period but during the seven year upturn after that, prices went up 45%. This was seen again during the 1997/98 Asian financial crisis where prices went down 20% but rose by as…