Overall house prices consolidated during the quarter under review, says Savills Malaysia associate director of research and consultancy Fong Kean Hwa when presenting The Edge | Savills Klang Valley High-Rise Residential Property Monitor for 3Q2022.

The average asking price in prime city sub-markets (KLCC, Bangsar, Mont’Kiara) continued to contract year on year (y-o-y), he notes. “However, the average capital values declined much faster, widening the price gap. This indicates that buyers have strong bargaining power and that the property market is under pressure.”