Property Insights

KUALA LUMPUR MARKETBEAT REPORTS

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: Malaysia’s GDP shows a positive outlook as it continues to show improvement at 3.3% in the third quarter of 2023, compared to 2.9% in Q2 2023. The drivers of the growth are mainly attributed by Services, Construction and Agriculture sectors, which grew 5.0%, 7.2% and 0.8% respectively.

Industrial: Malaysia’s IPI increased by 2.7% y-o-y in October, showcasing the best performance since May 2023 compared to the decline in the previous month of 0.5%. The growth is mainly supported by Manufacturing sector, with 0.9% (September 2023: 0.4%) fueled by stronger domestic-oriented production of 6.7% (September 2023: 5.8%), despite the continuous decline in export-oriented industries of -1.5%, which has been ongoing since early 2023 due to supply chain disruptions, rising production costs, and global economic slowdowns.

Retail: Malaysia’s economy defied global headwinds in Q3 2023, posting a respectable 3.3% growth y-o-y. This uptick from Q2’s 2.9% pace was fueled by resilient domestic demand, showcasing the country’s growing economic independence.

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

CURRENT MARKETBEAT REPORTS

OFFICE MARKETBEAT

Overall, the office market remains resilient due to its ability to bounce back from economic challenges and adapt to changing market dynamics. Kuala Lumpur office vacancy rates have steadily declined throughout 2023, especially within the prime locations of KL Fringe, showcasing strong demand for quality space.

INDUSTRIAL MARKETBEAT

The logistics sector witnessed growing demand for comprehensive total logistics services as companies increasingly outsource logistics management to reliable service providers that offer value-added services such as warehousing, transportation management, packaging, and labeling.

RETAIL MARKETBEAT

Despite an inflationary sting, Malaysian consumers have been on a shopping spree in 2023, defying expectations and propelling the nation’s economic engine forward. This year-end spending surge brings overall consumer growth to 3.7%, fueled by the festive spirit, rising wages, and a robust job market. Strong growth was recorded in the Non-specialized Stores (6.1%), while Other Goods in Specialized Stores (2.2%) and Other Household Equipment in Specialized Stores (2.0%) sectors recorded moderate growth.

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