EdgeProp, Photo Credit to Shutterstock
clock 01-06-2019
hit 910

Tenant-Led Office Market in KL Under Pressure

Be the first to review

The tenant-led office market in Kuala Lumpur continues to be under pressure with looming supply and weak absorption of space said Knight Frank.

Knight Frank Malaysia executive director of corporate services Teh Young Khean said rents in KL city are likely to fall amid heightened competition and growing economic concerns.

“We have forecast that rents in the city centre would likely to decrease by 0.3 per cent for the next 12 months,” he said in a statement.

The independent global property consultancy in its Asia-Pacific Prime Office Rental index for first quarter 2019 showed the index fell 0.4 per cent quarter-on-quarter in the first three months of this year to142.6, though it remains up 6.2 per cent year-on-year.

Of the 20 cities tracked by the index, 15 recorded either stable or increased rents; two cities less than 17 reported in the previous quarter.


Monthly Column
The staple of your property-related materials. It's all about being ahead of the game and with The Column, you get carefully selected information that will keep you informed and running with the pack. The best news, articles and properties on the market from the Property Hunter portal, conveniently wrapped and ready, just for you.