High-end residential market to make a slow comeback

Posted on 09 Jan 2020
Share this article   

construction concept. engineering tools

KUALA LUMPUR: The high-end residential market is making a recovery after several years of slowdown.

Although it is a slow comeback, it is viewed positively by international property consultancy Knight Frank Malaysia which launched its latest research report, Real Estate Highlights 2nd Half of 2019.

The report highlighted the property trends and outlook in key markets of Malaysia. Knight Frank Malaysia managing director Sarkunan Subramaniam said: “The Kuala Lumpur high-end residential market is believed to have bottomed out mid last year.”

“This has set the right mood for the segment to make its way back slowly, evident by the higher number of launches in the second half of 2019.”

There is an increase in foreign buyer interest in Malaysian properties from Hong Kong, Taiwan, Japan, China, Singapore, USA, Australia, UK, Germany and other European countries, he said.

“Moving into 2020, we expect to see more new launches and transactions in the prime areas of Kuala Lumpur City – Bukit Bintang, Ampang Hilir / U-Thant, Mont Kiara, Bangsar and Damansara Heights / Kenny Hill,” he pointed out.

In addition to these prime areas, there are some established neighbourhoods and upcoming hotspots that are drawing the attention of the upper-income population and high-net-worth individuals.

These areas include Desa ParkCity, Taman Tun Dr Ismail and the upcoming financial district of Imbi / Pudu - Tun Razak Exchange (TRX).

The year 2019 also saw the TRX taking shape with the completion of Menara Prudential and Exchange 106. Complementing these commercial developments, Core Previous Development Sdn Bhd, a joint venture between China-based China Communication Construction Group (CCCG) and Malaysia’s WCT Holdings Bhd, seized this opportune time to launch Core Residence @ TRX.

Other notable residential projects unveiled during the second half 2019 are Conlay, a joint development by Eastern & Oriental Berhad and Mitsui Fudosan Group, and Agile Embassy Garden, the third project of Agile Group Holdings. These new launches are selling between RM1,900 per sq ft and RM2,200 per sq ft on average.

In the general residential segment, several key policies as announced under the National Budget 2020 are expected to stimulate the market further.

Among them is the lowering of foreign buyer price threshold from RM1mil to RM600,000 for unsold high-rise properties in urban areas, the introduction of Rent-to-Own financing scheme and revising the base year for RPGT to Jan 1, 2013, for assets acquired before the date, from Jan 1, 2000.

Want to contribute articles to StarProperty.my? Email: editor@starproperty.my
Was this article helpful?
Related News

Fresh from the news oven

Thursday, 23 Jan 2020 16:01 PM

Painting 101

News & Articles
Wednesday, 22 Jan 2020 10:01 AM

LBS shares 2020 company direction and target at bi-annual meeting

Property News
Wednesday, 22 Jan 2020 09:01 AM

Problems of low-cost housing

Property News
Latest News

Stories and news that might pique your interest

Thursday, 23 Jan 2020 16:01 PM

Painting 101

News & Articles
Wednesday, 22 Jan 2020 10:01 AM

LBS shares 2020 company direction and target at bi-annual meeting

Property News
Wednesday, 22 Jan 2020 09:01 AM

Problems of low-cost housing

Property News
Wednesday, 22 Jan 2020 09:01 AM

4 reasons why Malaysian homes are too expensive

Property News
Tuesday, 21 Jan 2020 12:01 PM

How bad is Malaysia's unaffordable housing crisis?

Property News
Monday, 20 Jan 2020 16:01 PM

Wallpaper or paint

Property News
Thursday, 23 Jan 2020 16:01 PM

Painting 101

News & Articles
Wednesday, 22 Jan 2020 10:01 AM

LBS shares 2020 company direction and target at bi-annual meeting

Property News
Wednesday, 22 Jan 2020 09:01 AM

Problems of low-cost housing

Property News
Wednesday, 22 Jan 2020 09:01 AM

4 reasons why Malaysian homes are too expensive

Property News
Tuesday, 21 Jan 2020 12:01 PM

How bad is Malaysia's unaffordable housing crisis?

Property News
Monday, 20 Jan 2020 16:01 PM

Wallpaper or paint

Property News
Thursday, 23 Jan 2020 16:01 PM

Painting 101

News & Articles
Wednesday, 22 Jan 2020 10:01 AM

LBS shares 2020 company direction and target at bi-annual meeting

Property News
Wednesday, 22 Jan 2020 09:01 AM

Problems of low-cost housing

Property News
Wednesday, 22 Jan 2020 09:01 AM

4 reasons why Malaysian homes are too expensive

Property News
Tuesday, 21 Jan 2020 12:01 PM

How bad is Malaysia's unaffordable housing crisis?

Property News
Monday, 20 Jan 2020 16:01 PM

Wallpaper or paint

Property News
Friday, 17 Jan 2020 09:01 AM

5 tips to clean your home in time for Chinese New Year

Home & Living
Monday, 18 Nov 2019 10:11 AM

Levelling a floor

Home & Living
Monday, 18 Nov 2019 10:11 AM

10 things you can DIY at home

Home & Living
Sunday, 17 Nov 2019 10:11 AM

Customising your own marble substitutes

Home & Living
Saturday, 16 Nov 2019 10:11 AM

Painting a wall

Home & Living
Saturday, 16 Nov 2019 10:11 AM

Plastering a wall

Home & Living
Friday, 03 Jan 2020 11:01 AM

The Park Sky Residence ushers in New Year

Featured Dev
Tuesday, 31 Dec 2019 15:12 PM

Advertorial: Affordable luxury at E’Island Lake Haven Residence

Featured Dev
Tuesday, 24 Dec 2019 16:12 PM

A magical Finland Christmas Market at Sunway Velocity Mall

Featured Dev
Monday, 16 Dec 2019 15:12 PM

Trinity of options at Tropicana

Featured Dev
Monday, 16 Dec 2019 15:12 PM

Sustainable living at the peak

Featured Dev
Monday, 16 Dec 2019 15:12 PM

Ensuring better quality for buyers

Featured Dev
Friday, 29 Nov 2019 14:11 PM

A German Christmas at Sunway Pyramid

Events
Friday, 01 Nov 2019 17:11 PM

Win free prizes while shopping for your dream home

Events
Thursday, 24 Oct 2019 09:10 AM

SkyWorld brings the sky living experience to life

Events
Saturday, 19 Oct 2019 13:10 PM

Developers provide great offers at the StarProperty fair

Events
Monday, 08 Oct 2018 09:10 AM

Honoring the Southern developers

Awards 2018
Monday, 01 Oct 2018 17:10 PM

Quiet charm of Shah Alam

Best@
Thursday, 20 Sep 2018 13:09 PM

Johor an economic development powerhouse

Awards 2018
Thursday, 23 Aug 2018 17:08 PM

Best@Shah Alam: Fengshui talk

Best@
Thursday, 18 Jul 2019 12:07 PM

买电梯房哪几楼千万不能选?

潮樓產業
Tuesday, 16 Jul 2019 14:07 PM

全球房产泡沫哪区最严重?

潮樓產業
Friday, 12 Jul 2019 10:07 AM

如何评估一套房产是否值得投资

潮樓產業
Wednesday, 10 Jul 2019 16:07 PM

退休生活要怎么过?

潮樓產業
Wednesday, 10 Jul 2019 14:07 PM

购置二手房需注意什么法律问题?

潮樓產業
Tuesday, 09 Jul 2019 12:07 PM

有地房产或高楼住宅孰优孰劣?

潮樓產業