Uptick in KL Property Index

Oversupply: AmInvestment Bank expects up to 20 million sq ft of new office space to be completed in Kuala Lumpur within the next four years.

IN spite of the present sluggish property market, the KL Property Index (made up of the listed shares of property companies) has seen a pick-up in its performance this month since hitting a nine-year low on Oct 30.

So far this month, the index has improved 5%. While it might be just a small margin, the more optimistic industry observer sees it as a sign that the property sector is bottoming out.