The real estate market will soon resume, says Knight Frank

KUALA LUMPUR (July 26): Obvious signs of improvement in the real estate market are expected during the second half of the year or the first half of next year, according to the firm's Frank Knight Real Estate Advice Malaysia

This follows the historical conclusion of the 2018 Malaysia general elections, coupled with the strong momentum of economic growth, he said in a statement released with his facts Real estate highlights: 1st half of 2018 . 19659002] The general manager of Knight Frank Malaysia, Sarkunan Subramaniam, shares that the real estate market has seen a slight recovery during the first half of the year 2018. "I believe that condominium rents top range will stabilize and prices will hold.However, office rents should remain competitive due to oversupply in some places, with the exception of Penang, which has an office market robust with an existing and inbound limited supply, "said Sarkunan. Penang recorded a slight improvement in occupancy levels and rents in the first half of 2018.

The outlook for the Penang office market is expected to remain resilient, with no immediate incoming supply and growing demand, particularly from companies. "I believe foreign investors will come back in the first quarter of fiscal 2019, as we expect more transparent policies with the new government," said Sarkunan

. the industry and logistics sector is expected to grow as Malaysia continues to attract healthy investment levels in the manufacturing and services sectors.

Kelvin Yip, deputy director of residential sales and rentals at Knight Frank Malaysia, observed that buyers and potential investors are abandoning a wait-and-see approach and are really looking for bargains in the market.

In addition, "promoters are increasingly aggressive in promoting their products by organizing national roadshows. On the basis of the current trend, we expect the residential market to record more transactions in 2S2018, "added Yip.

He added that the rental market would have reached its lowest level as more applications were received. recently

that the capital Kuala Lumpur will remain as a popular investment destination among foreigners as prices are still reasonable compared to other major Asian cities.

"Unlike cities like Hong Kong and Singapore , where foreign buyers are subject to additional buyers. Yip concluded.

Meanwhile, KL's freight office market withstood the first half of 2018 as rents and occupancy rates remained firm despite the glut of space in some parts of the country. . Klang Valley.

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