Malaysia’s Property Market in 2024: A Year of Growth and Opportunities
Malaysia’s property market saw remarkable growth in 2024, driven by rising transactions, major infrastructure projects, and increased foreign investments. According to Napic, the first half of 2024 recorded RM105.65 billion in property transactions, marking the highest value in five years, with a 23.8% increase compared to 2023.
With strong demand in the residential, industrial, and commercial sectors, 2025 is set to continue this upward trend, fueled by infrastructure developments like the Johor-Singapore RTS, the expansion of data centres, and the potential revival of the KL-Singapore High-Speed Rail (HSR).
Let’s explore the major trends, top property deals, and key factors shaping Malaysia’s real estate sector.
Malaysia’s 2024 Property Market: Key Trends
1. The Data Centre Boom
The rise of cloud computing and AI adoption has turned Malaysia into a regional hub for data centres, particularly in Johor, Klang Valley, and emerging states like Negeri Sembilan and Sarawak.
📊 Knight Frank Malaysia’s Data Centre Research Report 2024 revealed that Malaysia recorded a take-up of 429MW worth RM141.72 billion in the first 10 months of 2024—triple the volume from 2023.
💡 Johor, due to its proximity to Singapore, has emerged as a prime location for hyperscale data centres, attracting global tech giants.
2. Johor’s Rising Investment Appeal
Johor has become a hotspot for foreign investments, thanks to:
✔ The Johor-Singapore RTS, set to enhance connectivity and drive economic growth.
✔ The Johor-Singapore Special Economic Zone (JS-SEZ), which fosters cross-border business activities.
✔ Strong industrial and retail property demand, positioning Johor as a leading business hub.
Experts agree that Johor’s rapid development will continue to shape Malaysia’s real estate landscape in 2025.
3. Infrastructure Projects Driving Real Estate Growth
🏗 Major developments like Bandar Malaysia, the KL-Singapore HSR, and the expansion of MRT lines have attracted investors to high-growth areas.
🏡 Transit-oriented developments (TODs) and mixed-use projects are seeing high demand, offering integrated living, working, and leisure spaces.
Top Property Deals of 2024
Real estate experts highlighted several major transactions that shaped the market this year.
🏙️ 1. Bandar Malaysia – RM12 Billion Deal
📍 Buyer: KLCC Holdings Sdn Bhd (Petronas)
📍 Location: Kuala Lumpur
📍 Deal Value: RM12 billion
🏗 Malaysia’s largest urban development project is set to become a global business and transportation hub, boosting property values in surrounding areas.
🏢 2. KLCCP’s RM1.95 Billion Suria KLCC Acquisition
📍 Buyer: KLCC Property Holdings Bhd
📍 Deal Value: RM1.95 billion
🛍️ Strengthening KLCCP’s retail dominance, this acquisition enhances the value of Malaysia’s prime retail assets.
🏢 3. Microsoft’s RM693.96 Million Data Centre Land Acquisition
📍 Location: Johor
📍 Deal Value: RM693.96 million
💻 Microsoft’s massive investment in Malaysia’s digital economy cements the country’s status as a data centre hub in Southeast Asia.
🏬 4. IOI Properties’ RM680 Million Purchase of Tropicana Gardens Mall
📍 Location: Damansara
📍 Deal Value: RM680 million
🏢 Retail property demand is rising, reflecting strong consumer spending and investor confidence in shopping malls.
🏭 5. Sime Darby’s RM5.6 Million Data Centre Lease
📍 Location: Elmina Business Park
📍 Deal Value: RM5.6 million (20-year lease)
💡 Industrial real estate is booming, driven by data centres, logistics, and e-commerce expansion.
2025 Property Market Outlook: What’s Next?
Industry analysts predict continued growth in Malaysia’s real estate sector in 2025, with key drivers including:
✔ Infrastructure Expansion – MRT, RTS, and potential revival of the HSR.
✔ Foreign Direct Investments (FDI) – More global companies setting up in Johor, Klang Valley, and Penang.
✔ Digital Economy Growth – More demand for data centres, industrial spaces, and smart cities.
✔ Retail & Hospitality Recovery – Strong rebound in tourism and commercial real estate.
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