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Kuala Lumpur MarketBeat Reports

11/10/2023
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: On the demand side, the growth was attributed by Private final consumption expenditure and Gross fixed capital formation, which grew 4.3% and 5.5% respectively. Overall, Malaysia’s economy grew at 4.2% for the H1 2023 as compared to 6.8% in the same period of 2022. On the other hand, for the first-time, Malaysia is announcing advance estimates of GDP as part of its efforts to meet the demand for timely macroeconomic statistics and are in line with best practices in developed countries.

Retail: The Services sector grew at slower pace 4.7% (Q1 2023: 7.3%) influenced by growth in wholesale trade and retail trade activities, better performance in support activities for transportation, land transport and air transport segments as well as strong performance in professional, scientific and technical activities.

Industrial: In comparison with the preceding month, the IPI increased by 2.8%, contrasting the negative growth of 1.8% recorded in July 2023. The decrease was attributed by contraction in the Manufacturing with -0.6% (July 2023: 0.2%), Mining with 0.1% (July 2023: 4.2%). and Electricity with 1.9% (July 2023: 1.5%).

Learn more by clicking our most recent Kuala Lumpur MarketBeat reports below.

CURRENT MARKETBEAT REPORTS

Office Buildings CBD
Office MarketBeat

It is notable that the average asking rents as at Q3 2023 are increasing in all submarket to RM6.14 per sqft per month and representing 3.6% y-o-y, much higher than average asking rent before Covid-19 pandemic. 

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Warehouse Internal Rack
Industrial MarketBeat

Malaysia’s IPI dipped by 0.3% in August 2023 as Manufacturing export-oriented industries declined while the domestic-oriented industries continued to expand.

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Shopping Retail
Retail MarketBeat

The overall vacancy rate for Kuala Lumpur shopping mall rose to 18.83% in Q3 2023 from 18.49% in the previous quarter. This increase influenced by few factors mainly due to the rising cost of living resulting from inflation and slower wage growth that affect consumer footprint.

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