Research Article
The Impact of Covid-19 Pandemic on Property Stock Indexes in ASEAN Countries
@INPROCEEDINGS{10.4108/eai.27-7-2021.2316860, author={Viko Prabowo Setiantoro and Ririen Setiati Riyanti}, title={The Impact of Covid-19 Pandemic on Property Stock Indexes in ASEAN Countries}, proceedings={Proceedings of the 4th International Conference on Economics, Business and Economic Education Science, ICE-BEES 2021, 27-28 July 2021, Semarang, Indonesia}, publisher={EAI}, proceedings_a={ICE-BEES}, year={2022}, month={3}, keywords={covid-19 property stock indexes return asean}, doi={10.4108/eai.27-7-2021.2316860} }- Viko Prabowo Setiantoro
Ririen Setiati Riyanti
Year: 2022
The Impact of Covid-19 Pandemic on Property Stock Indexes in ASEAN Countries
ICE-BEES
EAI
DOI: 10.4108/eai.27-7-2021.2316860
Abstract
The world economic projection is certain to experience a decline due to the COVID-19 pandemic. In the first quarter of 2020, several world institutions, such as the IMF, revised their projections for global economic growth. The COVID-19 pandemic has significantly impacted on various industrial sectors, including property sector. Prior to the pandemic, the property sector's performance began to show a positive trend after the last few years tended to be stagnant. However, the COVID-19 pandemic has caused the performance of the property sector to decline again due to regulations issued by the governments to limit social activities. Regarding the spread of COVID-19 cases since the outbreak first appeared in Wuhan, ASEAN was the first region to report COVID-19 cases outside China. This study examines the impact of the COVID-19 pandemic on property stock indexes in ASEAN countries from quarter I-2020 to quarter IV 2020. By using regression panel method, the growth in confirmed cases of COVID-19 is negatively and significantly impacts property stock indexes return. In addition, the findings of this study indicate that, during 2020, the most negatively affected property sectors caused by pandemic as compared to that in Indonesia are property sectors in Thailand and Singapore.