The Malaysian economy registered a slower growth of 4.1% year-on-year (y-o-y) in Q1 2013, compared with the 4.9% and 6.5% achieved in Q1 2012 and Q4 2012 respectively. Nonetheless, the economy is expected to be on track to achieve 2013’s GDP forecast of 5-6%.
There was a turn-around in the investment market in Q2, driven by corporate purchases for occupational requirement despite concerns about overall oversupply in the market.
The overall office market was stable. Both vacancy and rental rates remained unchanged with continued substantial supply in the pipeline. The anticipated oversupply sentiment does not appear to affect the market as activities remained resilient and active, supported by stable rental and capital values.
Retail sales remained buoyant with continued local and international interest for investments in the sector.
The high-end residential market resumed activities with several new launches during the quarter despite Bank Negara contemplating measures to curb speculation and lending.
Source : DTZ (Groupe UGL)