• In terms of volume and value property transacted in the first nine months of 1999, Kuala Lumpur registered 22.8% and 59.7% improvement over the corresponding period of 1998.

• The residential sector accounted 84.9% of the total volume property transaction valued at RM1,855.97 million. It registered increases of 20.4% and 33.4% in total number and total value of transaction compared to 1998.

• The performance of prices and rentals in residential sector varied according to the location and property type. For less attractive properties, prices dropped further. The high end of the market, such as condominium remained soft.

• The performance of office sector continued to fall in term of rental and occupancy due to the oversupply. Overall occupancy dropped 4.6% to 76.9% from 81.5% of 1998, and rental dipped 10% to 25% this year.

• The trend towards suburban purpose-built offices became more apparently particular in Damansara-Kiara areas. 45% of the 12 completions totaling 358,656 sm this year are in suburban areas.

• Prices of conventional commercial properties were mixed depending on the popularity and location of the shopping complexes. On the other hand, industrial sector had a better year in 1999 with 84% and 73.8% growth in volume and value of transactions respectively.

• The hotels were still under-performing as the tourism, the third largest foreign exchange earner after manufacturing and palm oil, had not recovered from the economic downturn.

Kuala Lumpur (Number of Property Transactions)