Malaysia’s Prime Office Market Faces Headwinds, But Bright Spots Emerge

The Asia-Pacific office market faced notable headwinds in 2024, with prime office rents declining by 1.6% for the year, a slight improvement from the 2.4% drop recorded in 2023. However, resilience was evident in select markets, with 16 out of 23 monitored cities reporting stable or increasing rents, particularly in Australia and Japan, according to the Knight Frank Asia-Pacific Q4 2024 Office Highlights.