2014-02-07 23:31:01 - Malaysia Real Estate Report Q1 2014 - a new market research report on companiesandmarkets.com
Overall, BMI has a positive outlook for the Malaysian commercial real estate sector. In particular positive demographics with increasing income levels, strong FDI levels and the government´s plan to increase the population of the Kuala Lumpur area to 10 million from the current 6 million by 2020 will also spur greater property demand. However, an oversupply of office and retail space is threatening rental rates, as well as a mismatch of investor specifications and new developments.
There are strong downside risks to our forecasts; with an estimated 17 million square feet coming online between 2015-2017 demand would have to double to absorb this supply. The over-supply of commercial real estate could result in depressed rentals and yields. Additional downside risks to
the market is the vacancies resulting from a mismatch of specifications and tenant´s needs, according to an analyst at Savills Research there is a trend of tenants leaving buildings that are 10-15 years old as a result of poor maintenance standards.
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