Knight Frank Asia-Pacific office rental index drops by 1.6% q-o-q for 2Q2023
Vacancies rose marginally by a quarter of a percentage point q-o-q to 13.
Vacancies rose marginally by a quarter of a percentage point q-o-q to 13.
“I am cautiously optimistic on the Malaysia property market going forward in the short-term perspective.
The residential property market staged a strong rebound in 2022 with a 22.
The demand for warehouse space remains high, with manufacturers being the main drivers as they expand their logistics space.
With the adoption of a hybrid workplace, companies are also looking for space that offers greater flexibility of space planning.
Apart from that, rentals for condominiums in Singapore grew 32% annually in the first quarter of 2023, while the government has also imposed a steeper stamp duty starting April.
As the increase in legal fees is reasonable and not significant when compared against the property value or loan amount, it is not expected to cause a domino effect towards the rising cost of living or house prices.
Additionally, Low believed that the unchanged OPR is expected to help property developers with financing costs.
In a sector update on Monday (July 17), the research house said it believes property sales momentum will stay strong this and next year, with the Johor property market seeing sustainable recovery going forward.