The impact of economic crisis on the construction sector (property market)

Abstract

The construction sector and property development sector plays important role in the economic growth of a nation. Its dual roles through direct and indirect contribution to Gross Domestic Product (GDP) is vital in steering the economy out of the present recession. The construction sector is not only providing the final out put to the economy but also it is a major employer for construction workers, developers, engineers, architects, surveyors, valuers, property managers and also other related sectors. If the sector can be revived soon, it could bring Malaysia out of the current economic downturn. This paper attempts to identify the impact of the current economic crisis on this sector, and the role this sector can play in the economy recovery process.