KUALA LUMPUR, 17 February: The Malaysian property market will remain subdued this year, with oversupply concerns in the retail and commercial sectors, said property consultants Rahim & Co.
“On the commercial side, there is a problem of oversupply. Within the next two to five years, 15 million sq ft are coming into the market. That is worrying because the occupancy rate of office space has now dropped to sub-80 (less than 80%). If you own a building and you cannot rent out 20% of your space, then you are going to get into some trouble in your cash flow,” said Tan Sri Abdul Rahim Abdul Rahman, Executive Chairman of Rahim & Co International Sdn Bhd.
To read the full article, please visit Property Market In 2017 To Remain Subdued, Office & Mall Space Glut A Concern, Says Rahim & Co
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