News about Savills

2015 was indeed a challenging year for the market due to several internal and external issues, such as the implementation of the Goods and Services Tax (GST), the weakened ringgit, political uncertainty, and property market cooling measures, resulting in poor consumer sentiment.

PETALING JAYA (March 9): The Malaysian property market is expected to see some signs of recovery by this year-end, supported by an improving local economy and market sentiment.

KUALA LUMPUR (March 2): Experiential shopping will be a new trend as consumers still prefer physical interaction – such as talking to the sales consultant and feeling and touching the product – which cannot be replicated through online shopping, said a retail property consultant.

PETALING JAYA (Mar 1): The retail space in Klang Valley will hit the 60 million sq ft mark in 2017, said Savills Malaysia managing director Allan Soo.

KUALA LUMPUR (Jan 27): The sale of retail portfolios and demand for logistic space is expected to increase in Europe this year, said global property services firm Savills in a briefing note entitled “Themes for European property in 2016” released this month.

THE Klang Valley residential market saw price growth in 3Q2015, albeit at a slower pace, as homebuyers remained cautious about the current economic and political situation.

KUALA LUMPUR (Jan 8): Last year was unkind to not only the Malaysian property market but also the retail sector.

KUALA LUMPUR (Dec 5): European cities' office market has seen a 21% increase in take-up rates year-on-year (YoY) in 3Q2015, according to global real estate services provider Savills' market report on European offices for the period under review.

GEORGETOWN (Oct 16): Penang’s first ‘premium outlet’ mall, Design Village Penang, in Batu Kawan, will open a month ahead of schedule in October 2016, according to Savills Malaysia managing director Allan Soo.

The Klang Valley residential market continued to slump for the second quarter of 2015 (2Q2015) in the aftermath of the implementation of the Goods and Services Tax (GST) in April, coupled with the weakening of the ringgit, which have tightened domestic spending.