Asia Pacific Office Outlook 2024

KUALA LUMPUR R E N T ( M Y R / S F/ Y R ) A N D R E N T G R OWT H ( % P E R A N N U M ) RENT GROWTH

FORECAST

3.0%

6.90

6.85

2.0%

6.80

1.0%

6.75

0.0%

6.70

6.65

-1.0%

 As supply is expected to be balanced by demand in 2024, rentals are forecast to remain stable at around 0.02% between 2023 and 2024.  Rent growth is expected to return to positive territory in 2026 at 0.3%.

6.60

-2.0%

6.55

6.50

-3.0%

2021

2022

2023F 2024F 2025F 2026F 2027F MYR/SQFT/MO Rent growth (%)

Source: Cushman & Wakefield