A new report has outlined how Kuala Lumpur's high-end residential market is again on the rise after bottoming out midway through last year.

Knight Frank Malaysia's Real Estate Highlights 2nd Half of 2019, released on Thursday, reveals how the launch of projects such as CORE Precious Development Sdn Bhd's Core Residence @ TRX, and Conlay, a joint development by Eastern & Oriental Berhad and Mitsui Fudosan Group, helped the sector rebound in the second half of the year.

These new launches are selling between RM1,900 per sq ft and RM2,200 per sq ft on average. 

At a glance:

• Knight Frank Malaysia has launched its latest research report, Real Estate Highlights 2nd Half of 2019, which highlights the property trends and outlook in key markets of Malaysia. 
• According to the report, a series of project launches in the second half of 2019 has helped the Kuala Lumpur high-end residential market rebound after bottoming midway through last year.
• Knight Frank Malaysia also believes a series of key policies could further stimulate the market this year.

Knight Frank Malaysia Managing Director Sarkunan Subramaniam said residential project launches within the city showed no signs of slowing down.

"We expect to see more new launches and transactions in the prime areas of Kuala Lumpur City – Bukit Bintang, Ampang Hilir / U-Thant, Mont’ Kiara, Bangsar and Damansara Heights /Kenny Hill," he said.

"In addition to these prime areas, there are also some established neighbourhoods/upcoming hotspots that are drawing the attention of the upper-income population and high-net-worth individuals.

Knight Frank Malaysia Managing Director Sarkunan Subramaniam. Source: Knight Frank Malaysia

"They include Desa ParkCity, Taman Tun Dr Ismail and the upcoming financial district of Imbi / Pudu - Tun Razak Exchange.” 

Mr Subramaniam said new legislation could also assist in the recovery of the market this year.

"Several key policies as announced under the National Budget 2020, such as lowering of foreign buyer price threshold from RM1 million to RM600,000 for unsold high-rise  properties in urban areas, the introduction of Rent-to-Own financing scheme, revising the base year for Real Property Gains Tax to January 1, 2013 for assets acquired before the date are expected to further stimulate the market," he said.

Click here to download the report.

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