An interesting question to ask is how many of the launched and in progress projects will be completed, instead of being abandoned. I think it's common practise for developers to incorporate individual pte ltd company to undertake each project to insulate the holding company. The bigger companies may be worried about the damage to their reputation should they walk away from a loss making project. Many other SME developers may care less and simply declare bankruptcy for the project company as we have witnessed many past cases of abandoned projects during economic downturns. The banks will own the "project", land & whatever uncompleted buildings and lelong it out to new owner. If banks had disbursed partially loans taken up, would buyers end up owing the banks and need to repay the loans with interest but with no property, nothing to show?

Before the lockdowns, not just Msia but also Sg, it was reported that 300K M'sians (mostly workers) cross the causeway for work in Sg (https://infographics.channelnewsasia.com/interactive/causewayjam/index.html). While their pay may be modest in S$ terms (S$2K a month isn't a far fetch), when brought back to M'sia with the favourable exchange rate, many of them bought houses in JB or their home towns like Ipoh etc.

It was also reported that even when the recovery finally happens, many of these M'sian workers will lose their jobs, either as a result of companies folding or to local S'poreans who will also be desparetly looking for jobs.

Not sure if this will put a significant dent on the M'sian housing market.