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语言:
Malaysia’s property market demonstrated resilience in the first quarter of 2025, despite growing external uncertainties, according to Nawawi Tie Leung’s latest Kuala Lumpur Property Digest. The report highlights stable investment activity, rising office occupancy, and retail vibrancy buoyed by seasonal factor
Malaysia’s GDP grew by 4.4% year-on-year in Q1 2025, a moderation from the 5.1% in Q4 2024. On a quarterly basis, the economy contracted by 3.6%, primarily due to declines in services, manufacturing, and agriculture. The construction sector was the only gainer, expanding by 2.5%. Unemployment remained steady at 3.1%, while headline inflation dipped to 1.5%.
Investment activity totaled RM981 million, driven by strong demand for industrial and healthcare properties. Major deals included:
Al-Aqar REIT’s RM241 million acquisition of KPJ Ampang Puteri and KPJ Penang Specialist Hospitals,
Sime Darby Property’s RM232 million purchase of two warehouses in Bukit Raja,
KMI Healthcare’s RM146 million acquisition of Bertam Specialist Hospital.
The potential launch of WCT Holdings’ Paradigm REIT, valued at RM2.4 billion, could further boost the REIT landscape.
Office Sector: Quality Over Quantity
Kuala Lumpur’s office market saw increased momentum with the average occupancy rate rising to 77.2%, driven by a “flight to quality.” Notable developments:
A major bank took up 80,000 sq ft at Integra Tower.
The Exchange TRX Office (190,000 sq ft) received its completion certificate.
Co-working operators like WORQ and INFINITY8 expanded their presence significantly.
Prime office rents in KL Golden Triangle rose to RM6.86 psf, reflecting strong interest in premium spaces.
Retail: Seasonal Buzz and Brand Expansion
Retail activity surged, thanks to festive events and school reopenings. Highlights included:
Coach launching a refurbished boutique in Suria KLCC and a new café in Sunway Pyramid.
China’s Semir Group expanding its fashion footprint.
The heritage redevelopment of ISKL into The Campus Ampang, now a thriving F&B and lifestyle hub.
New malls like 118 Mall and Hextar World are part of a robust supply pipeline through 2027.
Residential: Steady Demand, Cautious Supply
Luxury residential prices remained flat in most areas due to oversupply. KLCC retained the highest average price at RM1,373 psf. Only one high-end project, The Conlay, was completed in Q1.
Key launches included:
Hanaz Suites by Exsim Group on Jalan Mayang (98 units starting from RM1.3 million),
Khaya Residence and Stellaris @ Riana Dutamas outside the city centre, adding over 1,900 units to the pipeline.
The government’s reaffirmation of the Malaysia My Second Home (MM2H) programme is expected to support demand for high-end properties among foreign investors.
While the Q1 data reflects underlying market strength, Nawawi Tie Leung cautions that external risks—particularly new U.S. tariffs—may disrupt supply chains and raise development costs. Nonetheless, proactive relocations, brand expansions, and sustained consumer sentiment offer reasons for cautious optimism across the property sectors in 2025
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