Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w i

INDEKS SEWAAN PEJABAT BINAAN KHAS

LEMBAH KLANG, JOHOR BAHRU & GEORGE TOWN
PURPOSE-BUILT OFFICE RENTAL INDEX (PBO-RI)
KLANG VALLEY, JOHOR BAHRU & GEORGE TOWN

George Town

Kuala Lumpur
Shah Alam

Johor Bahru

JABATAN PENILAIAN DAN PERKHIDMATAN HARTA

KEMENTERIAN KEWANGAN MALAYSIA
VALUATION AND PROPERTY SERVICES DEPARTMENT
MINISTRY OF FINANCE, MALAYSIA
Diterbitkan oleh

Pusat Maklumat Harta Tanah Negara (NAPIC),

Jabatan Penilaian dan Perkhidmatan Harta,
Kementerian Kewangan Malaysia,
Aras 7, Blok Perbendaharaan 2,
No.7, Persiaran Perdana,
Presint 2,
62592 PUTRAJAYA.

Published by

National Property Information Centre (NAPIC),

Valuation and Property Service Department,
Ministry of Finance Malaysia
Level 7, Perbendaharaan 2,
No 7, Persiaran Perdana,
Precint 2,
62592 PUTRAJAYA.

Tel : 03 - 88869000
Fax : 03 - 88869007

Hak Cipta Terpelihara 2018

Copyright Reserved 2018

Boleh dimuat turun dari www.jpph.gov.my

Downloadable from www.jpph.gov.my

Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w iii

Jadual Kandungan
Table of Content

Gambaran Keseluruhan
Overview..................................................................................................... 1

Indeks Sewaan Pejabat Binaan Khas Lembah Klang

(KV PBO-RI)
Klang Valley Purpose–Built Office Rental Index
(KV PBO-RI)................................................................................................ 1

Indeks Sewaan Pejabat Binaan Khas Johor Bahru
(JB PBO-RI)
Johor Bahru Purpose-Built Office Rental Index
(JB PBO-RI)................................................................................................. 4

Indeks Sewaan Pejabat Binaan Khas George Town
(GT PBO-RI)
George Town Purpose-Built Office Rental Index
(GT PBO-RI).............................................................................................. 5

ewa Purata Pejabat Binaan Khas

S
Purpose-Built Office Average Rental..................................................................... 6

Jadual: Indeks Sewaan Pejabat Binaan Khas

Lembah Klang, Johor Bahru & George Town
dan Sewa Purata mengikut Kawasan
Table: Klang Valley, Johor Bahru & George Town
Purpose-Built Office Rental Index
and Average Rents by Region.................................................................. 7

Nota Teknikal
Technical Notes......................................................................................... 12
 INDEKS SEWAAN PEJABAT BINAAN KHAS
LEMBAH KLANG, JOHOR BAHRU & GEORGE TOWN
PURPOSE-BUILT OFFICE RENTAL INDEX (PBO-RI)
KLANG VALLEY, JOHOR BAHRU & GEORGE TOWN

Q1 - Q2 2018P
 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 1

GAMBARAN KESELURUHAN OVERVIEW

Secara umumnya, pada Q2 2018P, Indeks Sewaan Generally, in Q2 2018P, Purpose-Built Office Rental
Pejabat Binaan Khas (PBO - RI) bagi Lembah Index (PBO - RI) for Klang Valley, Johor Bahru and
Klang, Johor Bahru dan George Town menunjukkan George Town showed moderate growth. All regions
pertumbuhan yang sederhana. Semua kawasan recorded lower growth compared to previous
merekod pertumbuhan rendah berbanding suku quarters. Johor Bahru region recorded the highest
sebelumnya. Kawasan Johor Bahru merekod growth in Q-o-Q (0.6% & 0.5%) and Y-o-Y (3.1% &
pertumbuhan tertinggi bagi suku ke suku (0.6% 2.1%) for both Q1 2018 and Q2 2018, respectively.
& 0.5%) dan tahun ke tahun (3.1% & 2.1%) untuk The lowest growth was in Klang Valley region,
kedua-dua Q1 2018 dan Q2 2018. Pertumbuhan increased marginally at 0.2% (q-o-q) and 1.1%
terendah ialah di Kawasan Lembah Klang, iaitu (y-o-y) in Q2 2018P. In sub region category, Klang
meningkat sedikit 0.2% (suku ke suku) dan 1.1% Valley major city, City Centre (WPKL) and Shah
(tahun ke tahun) pada Q2 2018P. Bagi kategori Alam (Selangor) both recorded highest growth in
sub kawasan, di bandar utama Lembah Klang, the respective region.
Pusat Bandar (WPKL) dan Shah Alam (Selangor)
keduanya merekod pertumbuhan tertinggi di dalam
kawasan masing-masing.

Tren stabil yang sama dapat dilihat pada Similar stable trend was seen in the office rental
sewaan pejabat di dalam kawasan yang mana in region which similar movement as in index. The
pergerakannya adalah sama sebagaimana indeks. highest rental was representing by Klang Valley
Sewaan tertinggi adalah diwakili oleh Lembah (Q2 2018P: RM47.12 psm) in tandem with their
Klang (Q2 2018P: RM47.12 smp), iaitu sejajar location and good transportation networks. The
dengan lokasi dan rangkaian pengangkutan yang lowest represented by George Town (Q2 2018P:
baik. Terendah pula diwakili oleh George Town (Q2 RM30.51 psm).
2018P: RM30.51 smp).

INDEKS SEWAAN PEJABAT BINAAN KHAS KLANG VALLEY PURPOSE–BUILT OFFICE

LEMBAH KLANG (KV PBO-RI) RENTAL INDEX (KV PBO-RI)

Perubahan Sukuan: Q2 2018P / Q1 2018 Quarterly Change: Q2 2018P / Q1 2018

Pada Q2 2018P, KV PBO-RI menaik sedikit iaitu 0.3 In Q2 2018P, the KV PBO-RI increased slightly by
mata utnuk direkod kepada 127.0 mata berbanding 0.3 points to 127.0 points against 126.7 points in
126.7 mata pada Q1 2018, menunjukkan Q1 2018, indicating growth of 0.2% Q-o-Q. WPKL
pertumbuhan sebanyak 0.2% suku ke suku. WPKL PBO-RI grew at 0.3%, from 134.3 points in Q1
PBO-RI berkembang pada 0.3%, daripada 134.3 2018 to 134.7 points in Q2 2018P whilst Selangor
mata pada Q1 2018 kepada 134.7 mata pada Q2 recorded a growth of 0.2%, from 121.7 points in Q1
2018P manakala Selangor merekod pertumbuhan 2018 to 121.9 points in Q2 2018P.
pada 0.2%, daripada 121.7 mata pada Q1 2018
kepada 121.9 mata pada Q2 2018P.

Figure 1: Klang Valley: Rental Index Movements by Region and Sub Region in Q1 2010 – Q2 2018P
140.0

135.0
134.7

130.0

127.0
125.0

121.9
120.0

115.0
Index

110.0

105.0

100.4
100.0 99.9
99.6 KV = KLANG VALLEY
95.0 WPKL = Wilayah Persekutuan Kuala Lumpur
SEL = Selangor
90.0
Q2
Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18
18P
KV KV 99.9 100.2 99.8 100.3 103.5 103.8 104.1 104.0 106.4 105.8 105.5 105.5 109.3 109.8 109.8 109.9 112.3 113.1 114.1 115.3 116.2 116.9 118.3 118.6 120.5 121.2 121.5 122.4 124.6 125.6 125.7 126.2 126.7 127.0
-WPKL
WPKL 99.6 100.0 100.4 100.1 104.9 105.4 106.0 105.7 109.1 108.7 107.9 108.3 116.3 114.9 115.3 115.8 119.3 119.5 121.5 122.3 123.5 123.7 125.8 126.2 128.0 128.7 129.4 130.1 131.9 133.5 133.5 133.6 134.3 134.7
-SEL
SEL 100.4 100.4 99.6 100.0 102.0 102.1 101.8 102.1 103.8 103.4 103.4 103.3 104.3 105.9 105.8 105.7 107.1 108.4 108.4 109.9 110.7 111.9 112.9 113.3 115.3 115.9 116.0 117.1 119.3 120.3 120.5 121.4 121.7 121.9

P = Preliminary Data
 2wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

Figure 2: WPKL: Rental Index Movements by Region and Sub Region in Q1 2010 – Q2 2018P
140.0

135.0
135.0 134.7
133.7
130.0

125.0

120.0

115.0
Index

110.0

105.0

99.9
100.0
99.6
98.3 WPKL = WILAYAH PERSEKUTUAN KUALA LUMPUR
95.0 CC = City Centre
OCC = Outside City Centre
90.0
Q2
Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18
18P
WPKL
WPKL 99.6 100.0 100.4 100.1 104.9 105.4 106.0 105.7 109.1 108.7 107.9 108.3 116.3 114.9 115.3 115.8 119.3 119.5 121.5 122.3 123.5 123.7 125.8 126.2 128.0 128.7 129.4 130.1 131.9 133.5 133.5 133.6 134.3 134.7
CC
- CC 99.9 100.2 100.5 99.4 103.9 104.4 104.6 104.6 108.2 108.0 107.2 107.9 115.9 114.2 115.0 115.6 118.7 119.1 120.6 121.2 122.7 123.1 125.4 126.0 127.8 128.4 129.2 130.1 131.7 133.6 133.6 133.9 134.6 135.0
- OCC 98.3 99.3 100.0 102.2 108.1 108.6 110.5 109.2 112.2 110.9 110.2 109.8 117.3 117.0 116.5 116.5 121.1 120.9 124.8 125.9 126.2 125.7 127.3 126.8 128.8 129.8 130.1 130.4 132.8 133.1 133.0 132.7 133.5 133.7

P = Preliminary Data

Figure 3: Selangor: Rental Index Movements by Region and Sub Region in Q1 2010 – Q2 2018P
130.0
127.1

125.0
121.7

120.0 121.1

117.6
115.0

110.0
Index

105.0
100.5
100.4
100.0 100.1
SEL = SELANGOR
95.0 PJ/SJ = Petaling Jaya / Subang Jaya
SA = Shah Alam
SK = Seri Kembangan
90.0
Q2
Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18
18P
SEL SEL 100.4 100.4 99.6 100.0 102.0 102.1 101.8 102.1 103.8 103.4 103.4 103.3 104.3 105.9 105.8 105.7 107.1 108.4 108.4 109.9 110.7 111.9 112.9 113.3 115.3 115.9 116.0 117.1 119.3 120.3 120.5 121.4 121.7 121.9
PJ/SJ 100.5 100.2 99.7 99.6 103.4 103.4 103.1 103.4 105.1 104.3 104.0 103.8 105.4 105.0 104.6 104.1 109.1 110.7 111.4 111.7 113.5 114.6 116.2 116.9 118.7 120.0 120.1 120.3 123.1 125.8 126.3 126.6 126.9 127.1
- PJ/SJ
SA
- SA 100.1 100.4 99.6 99.9 100.0 100.8 100.8 101.3 101.8 100.7 100.8 100.9 101.8 103.2 103.7 103.7 103.2 103.6 103.5 106.1 106.3 107.0 107.0 106.8 109.8 110.1 110.1 111.8 114.5 114.6 115.1 116.8 117.1 117.6
SK
- SK 100.4 100.7 99.3 100.5 102.5 102.1 101.4 101.5 104.6 105.4 105.4 105.4 105.8 109.8 109.2 109.5 109.1 111.1 110.3 112.0 112.4 114.1 115.6 116.4 117.5 117.6 117.9 119.3 120.4 120.6 120.1 120.9 121.0 121.1

P = Preliminary Data

Berdasarkan sub kawasan pula, sewaan pejabat By sub-regions, office rental recorded positive
merekod pertumbuhan positif seluruh negara. Di growth across the board. In WPKL sub-indices for
sub indeks WPKL bagi CC dan OCC, indeks sewaan City Centre (CC) and Outside City Centre (OCC),
berkembang masing-masing pada 0.3% dan 0.1%. rental index growth grew at 0.3% and 0.1%,
Di Selangor pertumbuhan indeks di dalam Petaling respectively. In Selangor, index growth in Petaling
Jaya / Subang Jaya (PJ/SJ) dan Seri Kembangan Jaya / Subang Jaya (PJ/SJ) and Seri Kembangan
(SK) kekal tidak berubah daripada suku sebelumnya (SK) remained unchanged from previous quarter at
iaitu masing-masing pada 0.2% dan 0.1%. Walau 0.2% and 0.1% respectively. However, in Shah Alam
bagaimanapun, pertumbuhan sewaan di Shah Alam (SA) rental growth increased only by 0.1% to record
(SA) meningkat hanya pada 0.1% direkod kepada 0.4% growth compared to previous quarter.
0.4% pertumbuhan jika dibandingkan dengan suku
sebelumnya.
 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 3

Perubahan Tahunan: Q2 2018P / Q2 2017 Annual Change: Q2 2018P / Q2 2017

Pada Q2 2018P, KV PBO-RI menunjukkan In Q2 2018P, KV PBO-RI showed a modest annual

pertumbuhan tahunan yang sederhana dengan growth with increment at 1.1% compared to their
kenaikan sebanyak 1.1% berbanding dengan performance in 2017(above 3.0%).
prestasinya pada 2017(atas daripada 3.0%).

Indeks sewaan bagi WPKL dan Selangor
berkembang masing-masing sebanyak 0.9% dan
1.3%. Di WPKL, CC merekod kenaikan lebih tinggi
daripada 1.0% berbanding OCC yang menyaksikan
hanya 0.5% kenaikan. Walau bagaimanapun, di
Selangor pertumbuhan tertinggi mewakili oleh
Shah Alam pada 2.6%, diikuti masing-masing
oleh Petaling Jaya / Subang Jaya (1.0%) dan Seri
Kembangan (0.4%).
Rental index for WPKL and Selangor expanded by
0.9% and 1.3% respectively. In WPKL, CC recorded
a higher increase of 1.0% compared to OCC which
saw only a 0.5% increment. However, in Selangor
the highest growth represent by Shah Alam at 2.6%,
followed by Petaling Jaya/ Subang Jaya (1.0%) and
Seri Kembangan (0.4%) respectively.

Table 1: Klang Valley: Rental Index Points & Changes in Q1 2018 & Q2 2018P

Q1 2018 Q2 2018P
STATE / SUB-REGION Index Change (%) Index Change (%)
Points Q-o-Q Y-o-Y Points Q-o-Q Y-o-Y
KLANG VALLEY 126.7 0.4 1.7 127.0 0.2 1.1
WPKL 134.3 0.5 1.8 134.7 0.3 0.9
City Centre (CC) 134.6 0.5 2.2 135.0 0.3 1.0
Outside City Centre (OCC) 133.5 0.6 0.5 133.7 0.1 0.5
SELANGOR 121.7 0.2 2.0 121.9 0.2 1.3
Petaling Jaya / Subang Jaya 126.9 0.2 3.1 127.1 0.2 1.0
Shah Alam 117.1 0.3 2.3 117.6 0.4 2.6
Seri Kembangan 121.0 0.1 0.5 121.1 0.1 0.4
 4wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

INDEKS SEWAAN PEJABAT BINAAN KHAS JOHOR BAHRU PURPOSE-BUILT OFFICE

(JB PBO-RI) RENTAL INDEX (JB PBO-RI)

Perubahan sukuan: Q2 2018P/ Q1 2018 Quarterly Change: Q2 2018P/ Q1 2018

Indeks sewaan pejabat binaan khas di Johor Bahru The rental index of purpose-built office in Johor
menurun sedikit iaitu 0.7 mata untuk berada pada Bahru decreased marginally at 0.7 points to stand
128.8 mata berbanding pada Q1 2018P (128.1 at 128.8 points compared to Q1 2018P (128.1
mata). Pada suku ini pertumbuhan terendah points). This quarter is the lowest growth recorded
direkodkan oleh Johor Bahru semenjak Q2 2014. by Johor Bahru since Q2 2014. The growth rental
Indeks sewaan pejabat di Johor Bahru ditunjukkan index in Johor Bahru showed in Figure 4.
di dalam Rajah 4.

Perubahan Tahunan: Q2 2018P/ Q2 2017 Annual Change: Q2 2018P/ Q2 2017

Berbanding Q2 2017, indeks sewaan direkod pada Against Q2 2017, the rental index recorded a
2.0% pertumbuhan daripada 126.2 mata. Suku 2.0% growth from 126.2 points. This quarter also
ini juga merekodkan pertumbuhan terendah oleh recorded the lowest growth by this region since
kawasan ini semenjak Q2 2014. Q2 2014.

Figure 4: Johor Bahru: Rental Index Movements in Q1 2010 – Q2 2018P

130.0 128.8

125.0

120.0

115.0

110.0
Index

105.0

100.0
98.3

95.0

JB = Johor Bahru

90.0
Q2
Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18
18P
JB 98.3 99.2 100.2 102.3 101.7 103.2 106.1 106.6 107.3 106.7 107.5 107.0 108.0 109.0 108.3 108.3 110.0 113.3 115.3 114.5 116.6 117.1 118.8 119.1 120.2 121.1 122.7 123.0 124.2 126.2 127.0 127.3 128.1 128.8

P = Preliminary Data

Table 2: Johor Bahru: Rental Index Points & Growth in Q1 & Q2 2018P

Q1 2018 Q2 2018P
STATE / SUB-REGION Index Change (%) Index Change (%)
Points Q-o-Q Y-o-Y Points Q-o-Q Y-o-Y

JOHOR BAHRU 128.1 0.6 3.1 128.8 0.5 2.0

 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 5

INDEKS SEWAAN PEJABAT BINAAN KHAS GEORGE TOWN PURPOSE-BUILT OFFICE

GEORGE TOWN (GT PBO-RI) RENTAL INDEX (GT PBO-RI)

Perubahan sukuan: Q2 2018P/ Q1 2018 Quarterly Change: Q2 2018P / Q1 2018

Rajah 5 menujukkan bahawa indeks sewaan Figure 5 shows that the rental index of purpose-
pejabat binaan khas di George Town meningkat built office in George Town increased marginally
kecil pada 0.6 mata daripada 123.7 mata pada Q1 at 0.6 points from 123.7 points in Q1 2018 to
2018 kepada 124.3 mata pada Q2 2018P. Pada Q2 124.3 points in Q2 2018P. In Q2 2018P, the
2018P, pertumbuhan menaik 0.5% di mana ianya growth increased by 0.5% which is the highest
adalah pertumbuhan tertinggi berbanding dengan growth compared to three previous quarter.
tiga suku sebelumnya.

Perubahan Tahunan: Q2 2018P/ Q2 2017 Annual Change: Q2 2018P/ Q2 2017

Indeks sewaan pejabat binaan khas di George Town The rental index of purpose-built office in George
meningkat sedikit pada 1.4% daripada 122.6 mata Town increased marginally at 1.4% from 122.6
pada Q2 2017 kepada 124.3 mata pada Q2 2018P. points in Q2 2017 to 124.3 points in Q2 2018P.
Berbanding kepada suku sebelumnya semenjak Q1 Compared to previous quarters since Q1
2015, suku ini merekodkan pertumbuhan terendah. 2015, this quarter recorded the lowest growth.

Figure 5: George Town: Rental Index Movements in Q1 2010 – Q2 2018P

130.0

125.0 124.3

120.0

115.0

110.0
Index Point

105.0

100.0
100.0

95.0

GT = George Town

90.0
Q2
Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18
18P
GT 100.0 100.4 99.8 99.8 104.6 104.5 104.2 104.5 106.0 106.3 107.2 106.6 108.5 108.5 108.6 108.6 108.8 108.8 109.5 110.1 110.9 110.9 111.5 113.4 114.9 116.5 117.0 118.1 120.1 122.6 122.9 123.3 123.7 124.3

P = Preliminary Data

Table 3: George Town: Rental Index Points & Growth in Q1 & Q2 2018P

Q1 2018 Q2 2018P
STATE / SUB-REGION Index Change (%) Index Change (%)
Points Q-o-Q Y-o-Y Points Q-o-Q Y-o-Y

GEORGE TOWN 123.7 0.3 3.0 124.3 0.4 1.3

 6wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

PURATA SEWAAN PEJABAT BINAAN KHAS PURPOSE-BUILT OFFICE AVERAGE RENTAL

Purata sewaan pejabat binaan khas yang The average purpose-built office rentals recorded
direkodkan dua suku lepas bagi Lembah Klang, for the past two quarters for Klang Valley, Johor
Johor Bahru dan George Town ditunjukkan pada Bahru and George Town are showed in Figure 6
Rajah 6 di bawah. below.

Pada Q2 2018P, purata sewaan bagi Lembah In Q2 2018P, the average rentals for Klang Valley
Klang berada pada RM47.12 smp berbanding stood at RM47.12 p.s.m. compared to RM47.01
dengan RM47.01 smp (Q1 2018). WPKL merekod p.s.m. (Q1 2018). WPKL recorded a slight increase
kenaikan kecil pada RM0.15 smp daripada by RM0.15 p.s.m from RM51.85 p.s.m. (Q1 2018)
RM51.85 smp (Q1 2018) kepada RM52.00 to RM52.00 p.s.m. (Q2 2018P), whilst Selangor
smp (Q2 2018P), manakala Selangor merekod recorded a marginal increase from RM44.82
kenaikan kecil daripada RM44.82 smp (Q1 2018) p.s.m. (Q1 2018) to RM44.91 p.s.m. (Q2 2018P).
kepada RM44.91 smp (Q2 2018P). Antara dua Between two regions within WPKL, as usual City
kawasan di dalam WPKL, seperti biasa Pusat Centre registered the highest average rental at
Bandar merekodkan purata sewaan tertinggi pada RM53.57 p.s.m. (Q1 2018P). For the sub-regions
RM53.57 smp (Q1 2018P). Bagi sub kawasan di in Selangor, Petaling Jaya/Subang Jaya recorded
Selangor, Petaling Jaya/ Subang Jaya merekod the highest average rental at RM47.95 p.s.m. in
purata sewaan tertinggi iaitu RM47.95 smp pada Q2 2018P (Q1 2018: RM47.87 p.s.m.).
Q2 2018P (Q1 2018: RM47.87 smp).

Purata sewaan di Johor Bahru dan George The average rentals in Johor Bahru and George
Town meningkat sedikit daripada suku yang lalu. Town ascended marginally from the past quarter.
Pada Q4 2017P, kedua-dua kawasan mencatat In Q4 2017P, both regions recorded marginal
peningkatan masing-masing pada RM33.86 smp increase to record at RM33.86 p.s.m. (Q1 2018:
(Q1 2018: RM33.67 smp) dan RM30.51 smp (Q1 RM33.67 p.s.m.) and RM30.51 p.s.m. (Q1 2018:
2018: RM30.38 smp). RM30.38 p.s.m.) respectively.

Figure 6: Average Rental Purpose-Built Office (RM p.s.m): Klang Valley, Johor Bahru & George Town
in Q1-Q2 2018P

KLANG VALLEY 47.01 47.12 KLANG VALLEY

W.P. KUALA LUMPUR 51.85 52.00 W.P. KUALA LUMPUR

- City Centre 53.39 53.57 - City Centre

- Outside City Centre 47.23 47.29 - Outside City Centre

SELANGOR 44.82 44.91 SELANGOR

- Petaling Jaya / Subang Jaya 47.87 47.95 - Petaling Jaya / Subang Jaya

- Shah Alam 43.93 44.11 - Shah Alam

- Seri Kembangan 42.65 42.68 - Seri Kembangan

JOHOR BAHRU 33.67 33.86 JOHOR BAHRU

GEORGE TOWN 30.38 Q1 2018 Q2 2018P 30.51 GEORGE TOWN

20.00 30.00 40.00 50.00 60.00 60.00 50.00 40.00 30.00 20.00
GEORGE
2017 TOWN
Q32017
RM p.s.m. RM p.s.m. Q3
 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 7

APPENDICES

Table: Klang Valley, Johor Bahru & George Town: Rental Index Points and
Average Rents by Region/Sub Region
 8wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

1.0 Klang Valley: Rental Index Points, Changes and Average Rental 2009 – Q2 2018P

KLANG VALLEY (KV) W.P. KUALA LUMPUR (WPKL) SELANGOR (SEL)

Index Average Quarterly Yearly Index Average Quarterly Yearly Index Average Quarterly Yearly
Rental Change Change Rental Change Change Rental Change Change
(RM (%) (%) (RM (%) (%) (RM (%) (%)
psm) psm) psm)

Annually 2010=100
2009 97.8 36.31 96.5 37.23 99.3 36.58
2010 100.0 37.11 2.2 100.0 38.60 3.7 100.0 36.83 0.7
2011 103.9 38.55 3.9 105.5 40.70 5.5 102.1 37.59 2.1
2012 105.7 39.24 1.8 108.6 41.92 3.0 103.3 38.04 1.2
2013 109.4 40.60 3.5 114.8 44.32 5.7 105.4 38.82 2.0
2014 113.0 41.92 3.3 120.6 46.54 5.0 107.5 39.60 2.0
2015 116.3 43.15 2.9 124.8 48.19 3.5 110.1 40.54 2.4
2016 120.0 44.55 3.2 129.7 50.08 3.9 113.5 41.82 3.2
2017 123.8 45.94 3.1 133.9 51.68 3.2 117.1 43.13 3.1
Quarterly 2010=100

2009 Q1 09 98.5 36.54 97.0 37.45 99.6 36.70

Q2 09 97.8 36.30 -0.7 96.3 37.19 -0.7 99.5 36.63 -0.2
Q3 09 97.7 36.26 -0.1 97.0 37.43 0.6 99.0 36.45 -0.5
Q4 09 97.7 36.25 0.0 96.2 37.11 -0.8 99.2 36.55 0.3
2010 Q1 10 99.9 37.06 2.2 1.4 99.6 38.43 3.5 2.6 100.4 36.96 1.1 0.7
Q2 10 100.2 37.17 0.3 2.4 100.0 38.59 0.4 3.8 100.4 36.99 0.1 1.0
Q3 10 99.8 37.05 -0.3 2.2 100.4 38.75 0.4 3.5 99.6 36.67 -0.9 0.6
Q4 10 100.3 37.21 0.4 2.6 100.1 38.62 -0.3 4.1 100.0 36.82 0.4 0.7
2011 Q1 11 103.5 38.42 3.3 3.7 104.9 40.48 4.8 5.3 102.0 37.55 2.0 1.6
Q2 11 103.8 38.53 0.3 3.7 105.4 40.67 0.4 5.4 102.1 37.60 0.1 1.6
Q3 11 104.1 38.61 0.2 4.2 106.0 40.91 0.6 5.6 101.8 37.48 -0.3 2.2
Q4 11 104.0 38.59 -0.1 3.7 105.7 40.79 -0.3 5.6 102.1 37.60 0.3 2.1
2012 Q1 12 106.4 39.46 2.3 2.7 109.1 42.12 3.3 4.0 103.8 38.24 1.7 1.8
Q2 12 105.8 39.27 -0.5 1.9 108.7 41.95 -0.4 3.2 103.4 38.10 -0.4 1.3
Q3 12 105.5 39.15 -0.3 1.4 107.9 41.64 -0.7 1.8 103.4 38.07 -0.1 1.6
Q4 12 105.5 39.16 0.0 1.5 108.3 41.81 0.4 2.5 103.3 38.05 -0.1 1.2
2013 Q1 13 109.3 40.55 3.6 2.7 116.3 44.87 7.3 6.5 104.3 38.42 1.0 0.5
Q2 13 109.8 40.75 0.5 3.8 114.9 44.34 -1.2 5.7 105.9 39.01 1.6 2.4
Q3 13 109.8 40.74 0.0 4.1 115.3 44.52 0.4 6.9 105.8 38.96 -0.2 2.3
Q4 13 109.9 40.77 0.1 4.2 115.8 44.70 0.4 6.9 105.7 38.93 -0.1 2.3
2014 Q1 14 112.3 41.66 2.2 2.7 119.3 46.04 3.0 2.6 107.1 39.44 1.3 2.7
Q2 14 113.1 41.96 0.7 3.0 119.5 46.14 0.2 4.0 108.4 39.93 1.2 2.4
Q3 14 114.1 42.35 0.9 3.9 121.5 46.91 1.7 5.4 108.4 39.91 0.0 2.5
Q4 14 115.3 42.80 1.1 4.9 122.3 47.21 0.7 5.6 109.9 40.46 1.4 4.0
2015 Q1 15 116.2 43.12 0.8 3.5 123.5 47.67 1.0 3.5 110.7 40.77 0.7 3.4
Q2 15 116.9 43.38 0.6 3.4 123.7 47.75 0.2 3.5 111.9 41.21 1.1 3.2
Q3 15 118.3 43.90 1.2 3.7 125.8 48.57 1.7 3.5 112.9 41.58 0.9 4.2
Q4 15 118.6 44.01 0.3 2.9 126.2 48.72 0.3 3.2 113.3 41.73 0.4 3.1
2016 Q1 16 120.5 44.73 1.6 3.7 128.0 49.40 1.4 3.6 115.3 42.47 1.8 4.2
Q2 16 121.2 44.98 0.6 3.7 128.7 49.69 0.5 4.0 115.9 42.67 0.5 3.6
Q3 16 121.5 45.08 0.2 2.7 129.4 49.95 0.5 2.9 116.0 42.71 0.1 2.7
Q4 16 122.4 45.42 0.7 3.2 130.1 50.24 0.5 3.1 117.1 43.12 0.9 3.4
2017 Q1 17 124.6 46.22 1.8 3.4 131.9 50.93 1.4 3.0 119.3 43.95 1.9 3.5
Q2 17 125.6 46.60 0.8 3.6 133.5 51.52 1.2 3.7 120.3 44.31 0.8 3.8
Q3 17 125.7 46.64 0.1 3.5 133.5 51.52 0.0 3.2 120.5 44.38 0.2 3.9
Q4 17 126.2 46.84 0.4 3.1 133.6 51.57 0.1 2.7 121.4 44.73 0.7 3.7
2018 Q1 18 126.7 47.01 0.4 1.7 134.3 51.85 0.5 1.8 121.7 44.82 0.2 2.0
Q2 18P 127.0 47.12 0.2 1.1 134.7 52.00 0.3 0.9 121.9 44.91 0.2 1.3

P = Preliminary

Note:
• Quarterly change (Q-o-Q) refers to the relative change in the index of the quarter compared with the index of the previous quarter.
• Annual change (Y-o-Y) is the relative change of the index in comparison with the corresponding time period one year ago.
 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 9

2.0 Sub-Indeks Kawasan Sewaan Pejabat Binaan Khas dan Sewa Purata di WP Kuala Lumpur
Purpose-Built Office Rental Region Sub-Indices and Average Rental in WP Kuala Lumpur

CITY CENTRE (CC) OUTSIDE CITY CENTRE (OCC)

Index Average Quarterly Yearly Index Average Quarterly Yearly
Rental Change Change Rental Change Change
(RM psm) (%) (%) (RM psm) (%) (%)

Annually 2010=100
2009 97.2 38.57 93.9 33.23
2010 100.0 39.68 2.9 100.0 35.37 6.5
2011 104.4 41.42 4.4 109.0 38.57 9.0
2012 107.9 42.81 3.4 111.0 39.25 1.8
2013 114.4 45.38 6.0 116.3 41.14 4.8
2014 120.1 47.67 5.1 122.0 43.15 4.9
2015 124.3 49.30 3.4 126.8 44.85 3.9
2016 129.9 51.53 4.5 129.3 45.74 2.0
2017 134.1 53.22 3.3 133.1 47.08 2.9
Quarterly 2010=100

2009 Q1 09 97.3 38.60 96.2 34.02

Q2 09 97.2 38.58 -0.1 93.4 33.03 -2.9
Q3 09 98.0 38.88 0.8 93.5 33.07 0.1
Q4 09 96.9 38.43 -1.2 93.8 33.17 0.3
2010 Q1 10 99.9 39.65 3.2 2.7 98.3 34.79 4.9 2.3
Q2 10 100.2 39.76 0.3 3.1 99.3 35.11 0.9 6.3
Q3 10 100.5 39.87 0.3 2.6 100.0 35.38 0.8 7.0
Q4 10 99.4 39.45 -1.1 2.7 102.2 36.14 2.1 8.9
2011 Q1 11 103.9 41.24 4.5 4.0 108.1 38.23 5.8 9.9
Q2 11 104.4 41.41 0.4 4.2 108.6 38.43 0.5 9.5
Q3 11 104.6 41.52 0.3 4.1 110.5 39.10 1.7 10.5
Q4 11 104.6 41.50 0.0 5.2 109.2 38.63 -1.2 6.9
2012 Q1 12 108.2 42.93 3.4 4.1 112.2 39.68 2.7 3.8
Q2 12 108.0 42.86 -0.2 3.5 110.9 39.22 -1.1 2.1
Q3 12 107.2 42.53 -0.8 2.4 110.2 38.99 -0.6 -0.3
Q4 12 107.9 42.81 0.7 3.1 109.8 38.83 -0.4 0.5
2013 Q1 13 115.9 46.00 7.5 7.1 117.3 41.50 6.9 4.6
Q2 13 114.2 45.32 -1.5 5.8 117.0 41.38 -0.3 5.5
Q3 13 115.0 45.63 0.7 7.3 116.5 41.22 -0.4 5.7
Q4 13 115.6 45.86 0.5 7.1 116.5 41.20 0.0 6.1
2014 Q1 14 118.7 47.10 2.7 2.4 121.1 42.85 3.9 3.2
Q2 14 119.1 47.26 0.3 4.3 120.9 42.76 -0.2 3.3
Q3 14 120.6 47.83 1.3 4.9 124.8 44.16 3.2 7.1
Q4 14 121.2 48.10 0.5 4.8 125.9 44.53 0.9 8.1
2015 Q1 15 122.7 48.68 1.2 3.4 126.2 44.63 0.2 4.2
Q2 15 123.1 48.85 0.3 3.4 125.7 44.44 -0.4 4.0
Q3 15 125.4 49.75 1.9 4.0 127.3 45.04 1.3 2.0
Q4 15 126.0 50.00 0.5 4.0 126.8 44.85 -0.4 0.7
2016 Q1 16 127.8 50.69 1.4 4.2 128.8 45.54 1.6 2.1
Q2 16 128.4 50.95 0.5 4.3 129.8 45.91 0.8 3.3
Q3 16 129.2 51.26 0.6 3.0 130.1 46.01 0.2 2.2
Q4 16 130.1 51.61 0.7 3.3 130.4 46.11 0.2 2.8
2017 Q1 17 131.7 52.25 1.2 3.1 132.8 46.98 1.8 3.1
Q2 17 133.6 53.00 1.4 4.0 133.1 47.07 0.2 2.5
Q3 17 133.6 53.01 0.0 3.4 133.0 47.06 -0.1 2.2
Q4 17P 133.9 53.11 0.2 2.9 132.7 46.92 -0.2 1.8
2018 Q1 18 134.6 53.39 0.5 2.2 133.5 47.23 0.6 0.5
Q2 18P 135.0 53.57 0.3 1.0 133.7 47.29 0.1 0.5

P = Preliminary

Note:
• Quarterly change (Q-o-Q) refers to the relative change in the index of the quarter compared with the index of the previous quarter.
• Annual change (Y-o-Y) is the relative change of the index in comparison with the corresponding time period one year ago.
 10wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

3.0 Sub-Indeks Kawasan Sewaan Pejabat Binaan Khas dan Sewa Purata di Selangor
Purpose-Built Office Rental Region Sub-Indices and Average Rental in Selangor
PETALING JAYA/SUBANG JAYA (PJ/SJ) SHAH ALAM (SA) SERI KEMBANGAN (SK)
Index Average Quarterly Yearly Index Average Quarterly Yearly Index Average Quarterly Yearly
Rental Change Change Rental Change Change Rental Change Change
(RM (%) (%) (RM (%) (%) (RM (%) (%)
psm) psm) psm)

Annually 2010=100
2009 98.8 37.28 99.7 37.41 99.5 35.06
2010 100.0 37.73 1.2 100.0 37.52 0.3 100.0 35.23 0.5
2011 103.3 38.99 3.3 100.9 37.85 0.9 101.9 35.91 1.9
2012 104.3 39.36 0.9 101.0 37.91 0.1 104.6 36.87 2.6
2013 104.8 39.56 0.5 103.1 38.69 2.1 108.5 38.22 3.7
2014 109.6 41.36 4.5 103.6 38.87 0.5 109.4 38.56 0.9
2015 114.1 43.04 4.1 106.2 39.83 2.5 110.0 38.74 0.5
2016 117.9 44.47 3.3 110.5 41.46 4.1 112.2 39.52 2.0
2017 122.5 46.22 3.9 115.2 43.21 4.2 113.5 39.97 1.1
Quarterly 2010=100

2009 Q1 09 99.3 37.48 99.5 37.32 100.2 35.30

Q2 09 98.9 37.33 -0.4 99.5 37.32 0.0 100.0 35.25 -0.2
Q3 09 98.5 37.16 -0.4 99.5 37.32 0.0 98.9 34.86 -1.1
Q4 09 98.7 37.26 0.3 100.0 37.52 0.5 98.9 34.86 0.0
2010 Q1 10 100.5 37.94 1.8 1.2 100.1 37.56 0.1 0.6 100.4 35.39 1.5 0.2
Q2 10 100.2 37.80 -0.4 1.3 100.4 37.69 0.3 1.0 100.7 35.48 0.3 0.7
Q3 10 99.7 37.61 -0.5 1.2 99.6 37.38 -0.8 0.2 99.3 35.00 -1.4 0.4
Q4 10 99.6 37.59 -0.1 0.9 99.9 37.48 0.3 -0.1 100.5 35.39 1.1 1.5
2011 Q1 11 103.4 39.02 3.8 2.8 100.0 37.53 0.1 -0.1 102.5 36.10 2.0 2.0
Q2 11 103.4 39.00 0.0 3.2 100.8 37.83 0.8 0.4 102.1 35.96 -0.4 1.3
Q3 11 103.1 38.92 -0.2 3.5 100.8 37.80 -0.1 1.1 101.4 35.72 -0.7 2.0
Q4 11 103.4 39.00 0.2 3.8 101.3 38.03 0.6 1.5 101.5 35.76 0.1 1.1
2012 Q1 12 105.1 39.67 1.7 1.7 101.8 38.19 0.4 1.7 104.6 36.85 3.0 2.1
Q2 12 104.3 39.35 -0.8 0.9 100.7 37.79 -1.0 -0.1 105.4 37.14 0.8 3.3
Q3 12 104.0 39.25 -0.3 0.9 100.8 37.83 0.1 0.1 105.4 37.14 0.0 4.0
Q4 12 103.8 39.15 -0.3 0.4 100.9 37.85 0.0 -0.5 105.4 37.14 0.0 3.8
2013 Q1 13 105.4 39.78 1.6 0.3 101.8 38.18 0.9 0.0 105.8 37.29 0.4 1.2
Q2 13 105.0 39.62 -0.4 0.7 103.2 38.73 1.4 2.5 109.8 38.70 3.8 4.2
Q3 13 104.6 39.48 -0.4 0.6 103.7 38.91 0.5 2.8 109.2 38.48 -0.6 3.6
Q4 13 104.1 39.29 -0.5 0.3 103.7 38.89 0.0 2.8 109.5 38.59 0.3 3.9
2014 Q1 14 109.1 41.17 4.8 3.5 103.2 38.71 -0.5 1.4 109.1 38.45 -0.4 3.1
Q2 14 110.7 41.79 1.5 5.4 103.6 38.86 0.4 0.4 111.1 39.15 1.8 1.2
Q3 14 111.4 42.04 0.6 6.5 103.5 38.85 -0.1 -0.2 110.3 38.86 -0.7 1.0
Q4 14 111.7 42.13 0.3 7.3 106.1 39.80 2.5 2.3 112.0 39.45 1.5 2.3
2015 Q1 15 113.5 42.83 1.6 4.0 106.3 39.88 0.2 3.0 112.4 39.60 0.4 3.0
Q2 15 114.6 43.25 1.0 3.5 107.0 40.16 0.7 3.3 114.1 40.22 1.5 2.7
Q3 15 116.2 43.84 1.4 4.3 107.0 40.17 0.0 3.4 115.6 40.73 1.3 4.8
Q4 15 116.9 44.10 0.6 4.7 106.8 40.09 -0.2 0.7 116.4 41.01 0.7 3.9
2016 Q1 16 118.7 44.81 1.5 4.6 109.8 41.21 2.8 3.3 117.5 41.41 0.9 4.5
Q2 16 120.0 45.28 1.1 4.7 110.1 41.30 0.3 2.9 117.6 41.43 0.1 3.1
Q3 16 120.1 45.32 0.1 3.4 110.1 41.30 0.0 2.9 117.9 41.53 0.3 2.0
Q4 16 120.3 45.39 0.2 2.9 111.8 41.97 1.5 4.7 119.3 42.02 1.2 2.5
2017 Q1 17 123.1 46.46 2.3 3.7 114.5 42.96 2.4 4.3 120.4 42.43 0.9 2.5
Q2 17 125.8 47.48 2.2 4.8 114.6 42.98 0.1 4.1 120.6 42.48 0.2 2.6
Q3 17 126.3 47.65 0.4 5.2 115.1 43.20 0.4 4.5 120.1 42.30 -0.4 1.9
Q4 17 126.6 47.75 0.2 5.2 116.8 43.84 1.5 4.5 120.9 42.58 0.7 1.3
2018 Q1 18 126.9 47.87 0.2 3.1 117.1 43.93 0.3 2.3 121.0 42.65 0.1 0.5
Q2 18P 127.1 47.95 0.2 1.0 117.6 44.11 0.4 2.6 121.1 42.68 0.1 0.4

P = Preliminary

Note:
• Quarterly change (Q-o-Q) refers to the relative change in the index of the quarter compared with the index of the previous quarter.
• Annual change (Y-o-Y) is the relative change of the index in comparison with the corresponding time period one year ago.
 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 11

4.0 Indeks Sewaan Pejabat Binaan Khas dan Sewa Purata di Johor Bahru & George Town
Purpose-Built Office Rental Index and Average Rental in Johor Bahru & George Town

JOHOR BAHRU (JB) GEORGE TOWN (GT)

Index Average Quarterly Yearly Index Average Quarterly Yearly
Rental Change Change Rental Change Change
(RM psm) (%) (%) (RM psm) (%) (%)

Annually 2010=100
2009 96.0 25.25 97.3 23.89
2010 100.0 26.29 4.1 100.0 24.55 2.8
2011 104.2 27.40 4.2 104.5 25.65 4.5
2012 107.0 28.15 2.7 106.9 26.26 2.4
2013 108.4 28.49 1.2 110.0 27.01 2.9
2014 114.6 30.14 5.8 111.8 27.45 1.7
2015 117.4 30.88 2.4 111.3 27.32 -0.5
2016 122.5 32.22 4.3 116.2 28.53 4.4
2017 125.7 33.05 2.6 121.8 29.91 4.8
Quarterly 2010=100

2009 Q1 09 94.3 24.81 96.8 23.77

Q2 09 95.1 25.00 0.8 96.8 23.76 0.0
Q3 09 97.2 25.57 2.3 97.7 23.99 1.0
Q4 09 96.6 25.40 -0.7 97.4 23.91 -0.3
2010 Q1 10 98.3 25.85 1.8 4.2 100.0 24.54 2.7 3.2
Q2 10 99.2 26.09 0.9 4.4 100.4 24.64 0.4 3.7
Q3 10 100.2 26.34 1.0 3.0 99.8 24.51 -0.5 2.1
Q4 10 102.3 26.89 2.1 5.9 99.8 24.51 0.0 2.5
2011 Q1 11 101.7 26.73 -0.6 3.4 104.6 25.68 4.8 4.7
Q2 11 103.2 27.12 1.5 4.0 104.5 25.64 -0.2 4.1
Q3 11 106.1 27.89 2.8 5.9 104.2 25.57 -0.3 4.4
Q4 11 106.6 28.03 0.5 4.2 104.5 25.65 0.3 4.7
2012 Q1 12 107.3 28.21 0.7 5.5 106.0 26.03 1.5 1.4
Q2 12 106.7 28.05 -0.6 3.4 106.3 26.10 0.3 1.8
Q3 12 107.5 28.26 0.8 1.3 107.2 26.31 0.8 2.9
Q4 12 107.0 28.15 -0.4 0.4 106.6 26.18 -0.5 2.1
2013 Q1 13 108.0 28.39 0.9 0.6 108.5 26.63 1.7 2.3
Q2 13 109.0 28.65 0.9 2.1 108.5 26.65 0.1 2.1
Q3 13 108.3 28.46 -0.6 0.7 108.6 26.66 0.0 1.3
Q4 13 108.3 28.46 0.0 1.1 108.6 26.66 0.0 1.8
2014 Q1 14 110.0 28.93 1.6 1.9 108.8 26.70 0.2 0.3
Q2 14 113.3 29.79 3.0 4.0 108.8 26.71 0.0 0.2
Q3 14 115.3 30.33 1.8 6.5 109.5 26.88 0.6 0.8
Q4 14 114.5 30.12 -0.7 5.8 110.1 27.04 0.6 1.4
2015 Q1 15 116.6 30.65 1.8 5.9 110.9 27.22 0.7 1.9
Q2 15 117.1 30.78 0.4 3.3 110.9 27.22 0.0 1.9
Q3 15 118.8 31.24 1.5 3.0 111.5 27.36 0.5 1.8
Q4 15 119.1 31.33 0.3 4.0 113.4 27.85 1.8 3.0
2016 Q1 16 120.2 31.61 0.9 3.1 114.9 28.22 1.3 3.7
Q2 16 121.1 31.84 0.7 3.4 116.5 28.61 1.4 5.1
Q3 16 122.7 32.27 1.3 3.3 117.0 28.73 0.4 5.0
Q4 16 123.0 32.34 0.2 3.2 118.1 28.99 0.9 4.1
2017 Q1 17 124.2 32.66 1.0 3.3 120.1 29.49 1.7 4.5
Q2 17 126.2 33.18 1.6 4.2 122.6 30.11 2.1 5.2
Q3 17 127.0 33.39 0.6 3.5 122.9 30.18 0.2 5.0
Q4 17 127.3 33.48 0.3 3.5 123.3 30.28 0.4 4.5
2018 Q1 18 128.1 33.67 0.6 3.1 123.7 30.38 0.3 3.0
Q2 18P 128.8 33.86 0.5 2.0 124.3 30.51 0.4 1.3

P = Preliminary

Note:
• Quarterly change (Q-o-Q) refers to the relative change in the index of the quarter compared with the index of the previous quarter.
• Annual change (Y-o-Y) is the relative change of the index in comparison with the corresponding time period one year ago.
12wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

TECHNICAL NOTES

Purpose-Built Rental Index (PBO-RI) is a commercial property rental indicator. It measures

the average rental changes over time. The index is derived from tenancy of investment
grade purpose-built office buildings in major cities in WPKL, Selangor, Johor and Pulau
Pinang. PBO-RI is developed on quarterly basis and it measures the change in average
rental between two quarters and serves as a useful short-term indicator of rental movement.
For annual index, it is derived by taking simple average of the four quarters indices for the
year.

Base Year

The base year for the Purpose-Built Office Rental Index (PBO-RI) is 2010. This year is used
as the beginning or the reference year for index construction where an arbitrary value of 100
is assigned. Index computation however began with Q1 2009 for quarterly and year 2009 for
annually.

Purpose-Built Office

Purpose-Built Office (PBO) is used to denote buildings that are intentionally built with
office as a dominant use Dominant use means not less than 75% of the net lettable area
is used as office Net lettable floor area is measured according to the Uniform Method of
Measurement of Buildings of the Royal Institution of Surveyors Malaysia (RISM).

Data Description

Only tenanted privately-owned buildings are included in the index computation. Owner-
occupied buildings and stratified buildings which are not tenanted are excluded. For index
development, each block of building is considered as one individual building. As such, an
office building with an annexed building is considered as having two blocks of buildings.

Rental Data Collection

Rental Data is obtained from the Property Manager’s Returns (Form D) under Sub-rule
2(2), Second Schedule of the Valuers, Appraisers and Estate Agents Act 1981 (Act 242)
and Rules. Each rental data is treated as one observation and included in the index
computation if:

i. The lease period is at least four quarters (or one year);

ii. The tenancy is for office use and located on all floors except basement,
ground and mezzanine; and

iii. The rental information given in Form D is complete.

 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 13

Data Update

Index for the current quarter is developed based on rental data available. However, there
is a possibility that new rental data are submitted to NAPIC in the future quarter. Hence,
final index will be computed in the following quarter. For example, preliminary index for
Q4 2017P is published on Q3-Q4 2017P publication and the final index for Q4 2017 will be
published on Q1-Q2 2018P publication.

Methodology

The PBO-RI is a hedonic rental index. The index is estimated based on a vector
of characteristics (attributes) embodied in the purpose-built office. The vector of
characteristics, comprising mainly location and physical attributes, are those statistically
identified as significant in determining the rental of purpose-built office.

The significant attributes regressed in the hedonic model are:

WPKL Selangor

i. Rental per square foot i. Rental per square foot

ii. Lettable Area ii. Lettable Area
iii. Number of Floors iii. Number of Floors
iv. Level of Floor iv. Level of Floor
v. Building Area v. Building Area
vi. Remaining Tenancy Period
vii. Building Age

Johor Bahru George Town

i. Rental per square foot i. Rental per square foot

ii. Number of Floors ii. Number of Floors
iii. Building Age iii. Services Charges
iv. Level of Floor iv. Remaining Tenancy Period
v. Lettable Area v. Building Area
vi. Services Charges vi. Building Age
vii. Remaining Tenancy Period
14wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

Computation of Rental Index

The PBO-RI is primarily developed from 10 separate rental models. They comprised;

• Three model for the composite index;

• Seven models by sub-region.

The 10 rental indices are Laspeyres indices, which measure current rental in relation to
those of the selected base period 2010.

The index is computed by taking the ratio of the current rental of a selected area to
the rental of the selected area at base period and multiplying it by 100. This can be
translated into the following statistical formula:

Where
“exp” symbolizes ‘exponential’

Pi (t) = the hedonic regression model coefficient of variable Xj at current

period, t
Pi (0) = the hedonic regression model coefficient of variable Xj at the base
period, 0 (year 2010)
Qi (0) = the mean of variable Xj at the base period,0 (year 2010)
 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 15

Geographical Stratification

WPKL

Wilayah Persekutuan Kuala Lumpur is divided into two regions; City Centre and Outside
City Centre. Two sub-indices based on geographical location are developed for every
review period.

Figure 7: Regions in W.P. Kuala Lumpur

16wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

Selangor

Selangor is divided into three regions; Petaling Jaya / Subang Jaya, Shah Alam and Seri
Kembangan. Three sub-indices based on geographical location are developed for every
review period.

Figure 8: Regions in Selangor

 Klang Valley, Johor Bahru & George Town Purpose-Built Office Rental Index w 17

Johor & Pulau Pinang

As purpose-built offices are concentrated in the city of Johor Bahru and George Town,
there is only one sub-region for the state. Only one index is developed for every review
period for each sub-region.

Figure 9: Johor Bahru Region

18wIndeks Sewaan Bangunan Pejabat Binaan Khas Lembah Klang, Johor Bahru & George Town

Figure 10: George Town Region

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Valuation and Property Services Department Branch Offices

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