PETALING JAYA (Oct 27): The Purpose-Built Office (PBO) Rental Index for Klang Valley, Johor Bahru, and George Town grew in the second quarter of 2017 (2Q17) from a year ago, according to the “Economic Report 2017/2018”.

The Kuala Lumpur rental index rose by 3.7% to 133.5 points, compared with a 4% growth to 128.7 points in 2Q16 from a year ago.

* Budget 2018 highlights
* Residential take-up rose in 1H2017
* Residential overhang growth almost doubles in 1H17
* Average home prices rose in 1H17
* Non-residential property subsector up 4.9% to RM6.4b in 1H17
* Shop overhangs shot up 54.3% to 7,754 units in 1H17
* Residential property loans grew to 8.8% of household debt as at July 2017
* Household debt repayment capacity remains strong as at end-July 2017
* Housing development expenditure likely more than halved in 2017
* Rail transport to drive connectivity

The city centre saw growth of 4% while areas outside the city centre inched up 2.5%.

Growth in Selangor, Johor Bahru and George Town were 3.8% to 120.3 points, 4.2% to 126.2 points, and 5.2% to 122.6 points, respectively.

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