The property market in Malaysia presents a series of challenges for investors. There is an abundance of office space in the market, and projections see a 17.3% increase in office space over the next few years.
This is a good thing for investors as the commercial real estate market is still very active in Malaysia. Businesses are still migrating to this region, and many deals have been reaching record prices. Capitalists continue to see interest in the property market, with sustained growth even during the period of the pandemic.
Malaysia’s real estate market is also attractive because prices are relatively low compared to other emerging economies. This means buyers will pay less for a property on a square foot basis.
The concern of a property bubble was offset by an exceptional performance in the retail sector for a higher uptake of retail space. Even though the retail sector is currently going through a difficult period with consumers cutting back on spending, things are looking up for the property market, according to projections.
Popular space in the real estate market includes properties owned by the Malaysian Resources Corporation and Oxley Holding Ltd. Condominium units in the Kuala Lumpur City Centre fetch prices just above MYR1,000 per square foot.
Even though real estate prices are higher in the city centre, these prices are still competitive relative to competing markets in neighbouring countries. Remember to follow articles on this platform to learn more about property markets, investing, and trading in Malaysia.