Knight Frank Malaysia, the global property consultancy, launches their latest Knight Frank Malaysia Real Estate Highlights for 1st Half of 2016. The report looks into the market performance across the various property mix – Residential, Office and Retail; and highlights the trends and outlook in the four key markets in Malaysia, including Kuala Lumpur, Klang Valley, Penang, Johor Bahru and Kota Kinabalu.
Sarkunan Subramaniam, Managing Director, Knight Frank Malaysia says, “Despite the cloudy outlook for all market sectors amid further weakening in the domestic economy and global uncertainties, the construction industry, particularly infrastructure-related, continues to drive economic growth. The recent signing of the Memorandum of Understanding (MoU) between the Governments of Malaysia and Singapore on the High-Speed Rail (HSR) linking Kuala Lumpur and Singapore is welcome news, bringing the game-changer project a step closer to reality. With the first phase of the Sungai Buloh-Kajang (SBK) MRT Line slated to be operational by the end of this year, urbanites in Klang Valley will experience improved mobility.
The slew of infrastructure-related projects in the country will inevitably shift the focus of future developments, with more activities expected along the various transportation routes as a higher segment of the population embraces public transit ridership encouraged by reduced travelling time.”
Highlights for 1H2016
Kuala Lumpur High End Condominium Market
- Residential market remains lacklustre with lower volume.
- Developers adopt innovative ‘push marketing’.
Kuala Lumpur and Beyond Kuala Lumpur (Selangor) Office Markets
- MNCs from marine & offshore sectors enticed to relocate to Kuala Lumpur in view of attractive currency and competitive rental rates.
Klang Valley Retail Market
- Consumers continue to hold back on spending evident from weaker retail sales data in 1Q2016 (-4.4%) against 1.3% growth in 4Q2015.
- Opportunities remain despite overall negativity, particularly in selected and upcoming under served but well populated areas.
- The RM337 million Bayan Lepas Expressway was opened to traffic in early April 2016. The highway, capable of accommodating a traffic volume of 70,000 vehicles daily, is part of the traffic dispersal initiative in the area and is expected to ease traffic congestion between Batu Maung and Sungai Nibong.
- Iskandar still attractive to investors; cumulative investments now stand at RM202 billion from 2006.
- Sabah to benefit long term from big infrastructure projects – Pan Borneo Highway and Bus Rapid Transport system.
To download the report, please visit: http://bit.ly/2aHN8tC
For further information, please contact:
Ms Judy Ong, Executive Director, Research and Consultancy, Knight Frank Malaysia
firstname.lastname@example.org +603 2289 9663
Ms Pamela Phua, Asst. Marketing & Communications Manager, Knight Frank Malaysia email@example.com +603 2289 9699 @KnightFrank_my
Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 13,000 people operating from over 400 offices across 58 countries. These figures include Newmark Grubb Knight Frank in the Americas, and Douglas Elliman Fine Homes in the USA. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit knightfrank.com.
Knight Frank has a strong presence in Malaysia with its headquarters in Kuala Lumpur as well as branches in Penang, Johor and Kota Kinabalu. The company offers high-quality professional advice and solutions across a comprehensive portfolio of property services and is registered with the Board of Valuers, Appraisers and Estate Agents. The Company is licensed to undertake property, valuations / consultancy, estate agency and property management and is also on the panel of all leading banks and financial institutions. For further information about the Company, please visit KnightFrank.com.my