Outlook 2023 Malaysia

KUALA LUMPUR RENT GROWTH

RENT (MYR/SQFT/YR) AND RENT GROWTH (% PER ANNUM)

FORECAST

-1.2% -1.0% -0.8% -0.6% -0.4% -0.2% 0.0% 0.2% 0.4% 0.6% 0.8% 1.0%

6.80

 As supply is expected to exceed demand in 2023, rentals are forecast to decline by around 0.5%, following a 1% decline in 2022.  Rent growth is expected to return to positive territory in 2024 at 0.75%.​

6.75

6.70

6.65

6.60

6.55

2020

2021

2022F 2023F 2024F 2025F 2026F MYR/SQFT/MO Rent growth (%)

Source: Cushman & Wakefield