Malaysia’s property transactions likely to pick up in 2023

December 1, 2022

Commercial, industrial, and logistics property transactions will continue to climb next year, but modestly, according to Irhamy Ahmad MRICS, Chartered Valuation Surveyor and CEO and Founder of Irhamy Valuers International.

He said growth would resume at a rate more in line with the historical norm due to the more extensive base comparisons as the country moves through the meagre statistics of 2020 and 2021.

Irhamy said the industrial market is growing due to e-commerce, increased investment by foreign manufacturers and infrastructure initiatives related to telecommunications, transit, and renewable energy as the main activity drivers.

In the first half of 2022, all-sector property transaction volume climbed more than 36 percent.

Irhamy also said that commercial and Industrial transactions account for 29.3 percent of total transaction value, equivalent to about RM24.77 billion in the year’s first half.

The number of commercial transactions increased in all price ranges, with the highest price band also demonstrating the highest growth rate at 54 percent.

“As predicted, the greatest number of first-half all-sector property transactions closed in Selangor, Perak, and Johor. Selangor accounts for 36,026 transactions in the first half, about one-fifth of the total. Transaction value in the first half was significantly higher than the pre-pandemic level, which remained relatively steady in 2018 and 2019,” he said.

Read more about how commercial, industrial, and logistics property transactions will improve in 2023.

Source: New Straits Times

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