主なハイライト

マレーシアの不動産市場は、予測期間中に4.5%以上のCAGRを記録する見込みです。COVID-19パンデミックは需要を凍結させ、住宅価格に下方圧力を追加しました。その結果、マレーシアの住宅価格指数は2021年第1四半期までの1年間でわずか0.3%上昇し、前年の1.9%の前年比増から下落しました。これは、2010年から2019年までの年間価格成長率7.5%からの急激な減速でした。インフレ調整後、住宅価格は2021年第1四半期に前年比1.3%の減少となりました。
マレーシアの不動産市場は2022年に回復しました。より多くの需要は、手頃な住宅に偏る可能性が高いです。開発業者は中期から長期にわたる不動産の見通しについて慎重ながら楽観的でした。これは、若年層の間で不動産への堅調な需要が見込まれているためです。
現在の金利は好ましい状態を維持することが期待されています。2022年は2021年から引き続き厳しい年でした。2022年度予算では、個人と企業の双方に対して実物資産の譲渡益税（RPGT）がそれぞれ0%および5.0%に戻る以外の大きな変化はほとんどありませんでした。

• 1 イントロダクション

  • 1.1 調査の前提

  • 1.2 本調査の範囲

• 2 調査手法

• 3 エグゼクティブサマリー

• 4 市場についての洞察

  • 4.1 経済・市場概要

  • 4.2 不動産購入トレンド - 社会経済および人口動態的観点からの考察

  • 4.3 居住用不動産おける政府の取り組み・規制

  • 4.4 不動産融資とLTV（ローントゥバリュー）のトレンド考察

  • 4.5 不動産市場において活発な技術イノベーション、スタートアップおよびプロップテック企業

  • 4.6 サウジアラビアおよび主要都市における不動産需給

  • 4.7 不動産セグメントにおける賃貸利回りの考察

  • 4.8 不動産市場における資本市場ペネトレーションおよびREITのプレゼンスの考察

  • 4.9 政府および官民共同の居住支援に関する考察

  • 4.10 COVID-19の市場インパクト

• 5 市場ダイナミクス

  • 5.1 促進要因

  • 5.2 抑制要因

  • 5.3 市場機会

  • 5.4 業界魅力度 - ポーターのファイブフォース分析

    • 5.4.1 新規参入の脅威

    • 5.4.2 買い手・消費者の交渉力

    • 5.4.3 サプライヤーの交渉力

    • 5.4.4 代替品の脅威

    • 5.4.5 競合・競争状況の激しさ

• 6 市場セグメンテーション

  • 6.1 タイプ別

    • 6.1.1 住宅不動産

      • 6.1.1.1 ヴィラ
      • 6.1.1.2 アパートメント
      • 6.1.1.3 その他のタイプ

    • 6.1.2 商業不動産

      • 6.1.2.1 事業所一覧
      • 6.1.2.2 リテール
      • 6.1.2.3 ホスピタリティ
      • 6.1.2.4 産業
      • 6.1.2.5 その他のタイプ

• 7 競合情勢

  • 7.1 概要：市場集中度と主要企業

  • 7.2 企業プロファイル

    • 7.2.1 Hartamas Real Estate (Malaysia) Sdn Bhd

    • 7.2.2 Bandar Utama City Sdn Bhd

    • 7.2.3 S P Setia Bhd

    • 7.2.4 Lien Hoe Corporation Berhad

    • 7.2.5 Amcorp Properties Berhad

    • 7.2.6 Tanming Berhad

    • 7.2.7 Hap Seng Realty Sdn Bhd

    • 7.2.8 Cornerstone Xstate

    • 7.2.9 Berjaya Corporation Berhad

    • 7.2.10 IJM Corporation Berhad*

• 8 市場の展望

• 9 付録

The Malaysia Real Estate Market size is estimated at USD 36.76 billion in 2024, and is expected to reach USD 50.69 billion by 2029, growing at a CAGR of 6.64% during the forecast period (2024-2029).

Key Highlights

• The Malaysian real estate market is expected to register a CAGR of more than 4.5% during the forecast period. The COVID-19 pandemic crippled demand, adding downward pressure on house prices. As a result, Malaysia's house price index rose a minuscule 0.3% during the year to Q1 2021, down from the previous year's 1.9% Y-o-Y increase. This was a sharp slowdown from the annual price growth of 7.5% from 2010 to 2019. When adjusted for inflation, house prices fell by 1.3% Y-o-Y in Q1 2021.
• Malaysia's property market rebounded in 2022 as more demand likely skewed toward affordable housing. Developers were cautiously optimistic about the property prospects in the medium to long term due to the likelihood of robust demand for properties among the young demographic.
• The interest rate at the moment is expected to remain favorable. The year 2022 continued to be challenging from 2021 as there was little to be given in the 2022 Budget except for real property gains tax (RPGT) reverting to 0% and 5.0% for both individuals and companies, respectively.

Malaysia Real Estate Market Trends

Oversupply Causing Problems

After a decade-long house price boom, Malaysia's housing market has been cooling in the past two years due to massive oversupply. There was MYR 18.48 billion (USD 4.41 billion) worth of unsold apartments in Malaysia's major cities last year, the result of a serious overbuilding of top-end properties during the recent boom.

To combat this over-building, the government introduced multiple measures to control speculation and discourage developers from over-building. Stamp duty was increased from 3% to 4% on properties worth above MYR 1 million (USD 238,578).

The government also introduced an additional 5% in real property gains tax (RPGT) on sales of properties owned for 6 years and beyond. However, these measures were temporarily relaxed to deal with the impact of the pandemic on the property market.

Greater Kuala Lumpur Increases Office Space

Greater Kuala Lumpur's office market reached a cumulative supply of over 136 million sq ft at the end of Q3/2021, of which 67% is located in WP Kuala Lumpur (91.7 million sq ft). This represented a year-to-date growth of 2.1% and was expected to close the year at 4.4% growth as more offices were completed by the end of 2021.

Nine new office completions were witnessed in the first nine months of 2021 in the Greater KL. Six of the buildings are in WP Kuala Lumpur, namely Menara Legasi, Menara Permata Sapura KLCC, TSLaw Tower, The Five at Kompleks Pejabat Damansara, Plaza Conlay, and Menara Great Eastern 2, amounting to 2.06 million sq ft.

On the other hand, Outer KL recorded three new office buildings, namely Q Tower, Imazium at Damansara Uptown, and Quill 9 Annexe, accounting for 0.69 million sq ft. Expected new office completions in Greater KL will amount to 9.9 million sq ft by 2023, representing a further supply growth of 7% from existing levels, of which WP Kuala Lumpur accounts for 84% or approximately 8.3 million sq ft.

Malaysia Real Estate Industry Overview

The residential real estate market in Malaysia is highly fragmented. The top participants in the Malaysian real estate sector are covered in this research. Large firms have financial resources to their advantage, whereas small businesses can compete effectively by building expertise in local markets.

Higher competition among market players is impacting selling prices and land prices, further leading to oversupply in the market. Furthermore, the market is dominated by a few pan-India branded players and multiple local players.

Hartamas Real Estate (Malaysia) Sdn Bhd, Bandar Utama City Sdn Bhd, S P Setia Bhd, Lien Hoe Corporation Berhad, Amcorp Properties Berhad, and others are some of the prominent companies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

• 1 INTRODUCTION

  • 1.1 Study Assumptions

  • 1.2 Scope of the Study

• 2 RESEARCH METHODOLOGY

• 3 EXECUTIVE SUMMARY

• 4 MARKET INSIGHTS

  • 4.1 Overview of the Economy and the Market

  • 4.2 Real Estate Buying Trends - Socioeconomic and Demographic Insights

  • 4.3 Government Initiatives and Regulatory Aspects for the Residential Real Estate Sector

  • 4.4 Insights Into Size of Real Estate Lending and Loan to Value Trends

  • 4.5 Focus on Technology Innovation, Startups, and Proptech in Real Estate

  • 4.6 Demand for and Supply of Real Estate in Saudi Arabia and Key Cities

  • 4.7 Insights into Rental Yields in the Real Estate Segment

  • 4.8 Insights into Capital Market Penetration and REIT Presence in Real Estate

  • 4.9 Insights into Affordable Housing Support Provided by Government and Public-private Partnerships

  • 4.10 Impact of COVID-19 on the Market

• 5 MARKET DYNAMICS

  • 5.1 Drivers

  • 5.2 Restraints

  • 5.3 Opportunities

  • 5.4 Industry Attractiveness- Porter's Five Forces Analysis

    • 5.4.1 Threat of New Entrants

    • 5.4.2 Bargaining Power of Buyers/Consumers

    • 5.4.3 Bargaining Power of Suppliers

    • 5.4.4 Threat of Substitute Products

    • 5.4.5 Intensity of Competitive Rivalry

• 6 MARKET SEGMENTATION

  • 6.1 By Type

    • 6.1.1 Residential Real Estate

      • 6.1.1.1 Villas
      • 6.1.1.2 Apartments
      • 6.1.1.3 Other Types

    • 6.1.2 Commercial Real Estate

      • 6.1.2.1 Offices
      • 6.1.2.2 Retail
      • 6.1.2.3 Hospitality
      • 6.1.2.4 Industrial
      • 6.1.2.5 Other Types

• 7 COMPETITIVE LANDSCAPE

  • 7.1 Overview (Market Concentration and Major Players)

  • 7.2 Company Profiles

    • 7.2.1 Hartamas Real Estate (Malaysia) Sdn Bhd

    • 7.2.2 Bandar Utama City Sdn Bhd

    • 7.2.3 S P Setia Bhd

    • 7.2.4 Lien Hoe Corporation Berhad

    • 7.2.5 Amcorp Properties Berhad

    • 7.2.6 Tanming Berhad

    • 7.2.7 Hap Seng Realty Sdn Bhd

    • 7.2.8 Cornerstone Xstate

    • 7.2.9 Berjaya Corporation Berhad

    • 7.2.10 IJM Corporation Berhad*

• 8 FUTURE OF THE MARKET

• 9 APPENDIX