Global firm JLL optimistic on domestic real estate market
PETALING JAYA: Global real estate consulting firm JLL has maintained an optimistic outlook on market activity in Malaysia, aligning with positive macroeconomic expectations.

In a statement, JLL Malaysia head of research and consultancy Yulia Nikulicheva said that in the first quarter of 2024 (1Q24), it anticipates potential notable transactions in Malaysia.

“We are observing the keen interest of both international and domestic investors who are carefully evaluating opportunities across all sectors,” she said.

JLL Asia-Pacific capital markets chief executive officer Stuart Crow said that while the cost of debt remained elevated, investors across Asia-Pacific are still erring on the side of caution.

“The prospect of interest rate cuts in 2024 may potentially reverse current trends but we can expect greater sector diversification among investors, particularly towards sectors such as logistics and industrial and living, which have seen high investor conviction across the region,” he said.

According to JLL, commercial real estate investment in Asia-Pacific rose 3% year-on-year (y-o-y) to US$31.6bil in 4Q23 after seven consecutive quarters of decreasing volumes.

JLL said that in 4Q23, an uptick in volume provided some upside after a challenging year that saw overall investment across the region decline by 17% y-o-y to US$106.8bil.

It said China stood at the forefront of Asia-Pacific’s investment rebound for the second consecutive quarter, recording a 50% y-o-y increase in volume to US$11.1bil.

“Sectors such as logistics and living performed better than other sectors, especially in China,” it added. — Bernama
Property
PETALING JAYA: Global real estate consulting firm JLL has maintained an optimistic outlook on market activity in Malaysia, aligning with positive macroeconomic expectations.