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Malaysia's real estate market likely continue to exhibit resilience — JLL

Publish date: Thu, 29 Feb 2024, 03:29 PM

KUALA LUMPUR (Feb 29): The real estate market is expected to continue to exhibit resilience, with certain segments to demonstrate sustainable growth, global commercial real estate and investment management company JLL said.

This positive trend is likely to be supported by stable macroeconomic growth, financial market stability, strong domestic demand, technological advancements and relevant measures implemented in the industry.

"We have observed that investors are displaying a more positive outlook towards the Malaysian real estate market, driven by the favourable dynamics and robust recovery witnessed over the past six quarters.

“Their primary focus, nevertheless, continues to be on three core segments with the highest growth potential: residential, logistics and industrial, and data centres," JLL (Malaysia) Research and Consultancy head Yulia Nikulicheva said following the release of its Global Capital Outlook research report.

While the company has maintained a positive future outlook, it also recognises certain risks that can potentially impact market performance negatively.

The escalation of local conflicts could contribute to rising global inflation rates and result in additional disruptions to global supply chains, lower-than-expected growth in the Chinese economy and a slowdown in key global markets.

"Slower growth in key global markets, such as Western Europe - with a focus on Germany - and the United States, could have a significant impact on Malaysian dynamics.

"As Malaysia heavily exports its manufacturing products to these economies, their performance directly influences future market dynamics," JLL (Malaysia) managing director Jamie Tan said.

In anticipation of these risks, he said the Malaysian government is taking proactive measures to boost the national economy's competitiveness.

This includes making strategic investments in the digital segment and introducing additional incentives to attract more foreign direct investments (FDIs) into the country.

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