This paper suggests that the government needs to be ready for the bubble to burst and the risk that this leads to an economic crisis. The paper recommends the government respond with market-oriented solutions and pay special attention to the household financial exposure.

Second, the government needs to downplay its role in the property market by reducing the number of government agencies and encourage the private sector to get involved in the affordable housing market.

Third, the government must enhance Malaysian financial literacy, with an orientation toward the value of saving and the possibilities offered by the rental market.

Finally, the government may open and easing up the regulation in the property market to foreigners who are in possession of a regular working visa and paying taxes to help the industry in a crucial moment of difficulty.

This Policy Ideas considers the next steps in developing a Single Aviation Market in ASEAN (ASAM), and proposes recommendations for achieving this vision.