Luxury condo market to remain subdued

On the rise: Savills Malaysia’s latest Asian Cities report said there were 21,069 luxury residential units priced above RM800 per sq ft in Kuala Lumpur as of end-2014. This represents a 21 increase year-on-year.

AN oversupply situation, as well as cautious buyer sentiment will see the luxury condominium segment remain subdued for the rest of the year.

According to Savills Malaysia’s latest Asian Cities report, there were 21,069 luxury residential units priced above RM800 per sq ft in Kuala Lumpur as of end-2014.