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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: Although demand improved after Covid-19 pandemic, new supply entered the market hastily than demand can absorb. There is approximately 4.92 million sf notable incoming supply to be injected within next 3 years, adding experts’ concern on the over-supply situation. Furthermore, the new vs old office building competition is making it more difficult for landlords to raise rent especially those buildings with low occupancy rate. 

Retail: It is notable that average vacancy rate continues declining to 18.5% in Q2 2023 (Q1'23: 19.47% and Q4'22: 21.23%), however, the rental for prime shopping centre remain stable within range of RM45.00 to RM215.00 per sf per month and represents rise of 1.77% y-o-y.

Industrial: Malaysia’s IPI contracted by 3.3% in April 2023, attributed by all sectors namely Mining with 4.9% (March 2023: 0.8%), Manufacturing with -3.0% (March 2023: 4.1%) and Electricity with -2.0% (March 2023: 0.4%). In comparison with the preceding month, the IPI declined by 10.8% after registering a growth of 8.4% in March 2023. The deterioration of Manufacturing sector was its first contraction since July 2021, influenced by almost all subsectors except for Textiles (+2.5%) and Non-metallic Mineral, Basis and Fabricated Metal (+3.3%).


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


Office Buildings CBD
Office MarketBeat

The average asking rent as at Q2 2023 slightly decrease to RM5.89 per sf per month and representing a negative 2.5% y-o-y despite rising in operation cost, on a par to average asking rent before Covid-19 pandemic. 


Warehouse Internal Rack
Industrial MarketBeat

Malaysia is now the second best performing ASEAN country in the World Bank Logistics Performance Index (LPI) 2023, behind Singapore after moving up its rank to 26. The long-awaited 2023 LPI report comes after 3 years of supply chain disruptions during Covid-19 pandemic where the last edition was published in 2018 with Malaysia ranked 41 and 32 in 2016.


Shopping Retail
Retail MarketBeat

Despite large upcoming supply opening its door by 2023 with approximately 2.75 million sf, we noticed more malls are being built focusing on neighborhood area mainly a part of mixed development with residential, target completion in the upcoming 2-3 years.

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