Malaysia’s 2024 Real Estate Forecast: Growth in Prices and Rents

Malaysia’s 2024 Real Estate Forecast: Growth in Prices and Rents

The 2024 outlook for Malaysia’s real estate market is optimistic, with expected growth in residential property prices and rents by approximately 9.95% and 9.57%, respectively. The Kuala Lumpur and Selangor regions might see a similar trend.

Key insights from Juwai!Q Property’s report show strong market confidence among real estate professionals, with most advising buying over renting. The anticipated increase is driven by favorable economic conditions, investment inflows, and market demand-supply dynamics.

A significant proportion of transactions will likely involve affordable housing units, with 51% of homes falling within the RM 100,000 to RM 500,000 price range.

While economic outlooks vary, the overall sentiment leans towards a stronger economy, backed by the World Bank’s forecast of a 4.3% growth in 2024.

This report underscores the potential for capital appreciation and rental yield growth, making it a crucial guide for stakeholders in Malaysia’s real estate sector.