Is the price of landed will drop? - Not really, most of us seen the price increasing time to time...

During covid, did the property price became cheaper? - Not really, the bank only lowered their interest rates. For rumawip, a RM300k house get 3.3% +- for full loan(RM300k). For 90%(RM270k) loan get 2.8% with maybank, yes one of my clients get that interest rates. For non rumawip or selangorku like condo or landed, interest rate were like 3.5%+ if not mistaken depends on amount and bank, can't really remember. Now the interest rates increased, going to 3.7%++ or you can check this online.

Conclusion is, I think the chances of housing price dropping are slim as population are growing day by day. Plus the government offering affordable houses like rumawip or selangorku, then no more lock down for now(I really hope the government won't initiate another lock down) and everyone can get back to work. Bank nowadays also strict on approving housing loan, at least on my parts, not sure about other real estate agent though.