prime office rentals in KL dropped again 2nd qtr of this year
according to property consultancy Knight Frank
KL worst performing city in Asia Pacific.
office rental in KL fell 0.4% compared to 1st qtr
forecasted to continue to decrease.
KL office rentals sliding for past year
“creeping overall vacancy rates.”
prime office rental currently RM5.30 psf
Read more at http://www.themalaymailonline.com/malaysia/article/kl-prime-office-rental-shows-sharpest-fall-in-asia-pacific#M8HbaUZDVj7OUma8.99
There is a double whammy here as well.
Firstly there are too many new empty buildings coming into the market in KL.
There is already an oversupply situation in KL.
Then secondly business is slowing down tremendously.
There are few new businesses or new business expansion to take up office space, especially all the new buildings that are coming on stream.
New building owners in KL are going to lose their pants and their underwear.
Unless the next elections are held this year and MO1 is kicked out.
If the general elections are held next year, KL building owners may not survive by that time.
If MO1 is not kicked out, the new building owners will certainly die.
Bankruptcies will become exponential.
The whole country is just grinding down to a halt.