Kuala Lumpur condos: is the 6.6% movement meaningful locally?

D

drawsAndCreek

First-time buyer
Getting the timing wrong could mean either overpaying now or waiting while the better condos disappear. We are watching two Kuala Lumpur neighbourhoods where asking prices fall between MYR 620,400 and MYR 930,600. The broader snapshot shows a 6.6% decline and about 33 days on market, but neither figure tells us whether sellers are accepting less because of unit condition, financing problems or extra stock in a particular development.

What would make you act rather than wait: earlier price reductions, evidence that buyers are struggling to finance, or a rise in genuinely new listings? Neighbourhood-level examples would help, especially where the outcome is a completed sale rather than a reduced asking price.
 
Thirty-three days can hide more than it reveals. Before comparing the two areas, use the same neighbourhood boundaries and separate newer condos from older buildings needing work. I’d also count competing units within the same development. Several similar listings in one tower can matter more to a buyer’s leverage than the Kuala Lumpur figure.
 
Also ask what happens to listings that disappear. A withdrawn condo may have sold, been rented, been relisted, or simply been taken off the market. If those are excluded, the 33-day figure could make the market look more liquid than it is. Do you know whether your data follows relisted units?
 
That is the missing fact for me too. I would build the comparison from recent completed sales first, then add current listings and withdrawals separately. The 6.6% movement may reflect a change in which condos sold rather than a uniform fall in values. A month with more dated units completing could drag down an area average without changing prices in the better buildings.
 
Condition is not only a renovation question. A buyer who needs financing may value a straightforward, well-presented unit differently from one requiring substantial work after completion. That can widen the negotiated discount even if two condos have similar floor areas and asking prices. Seller timing matters as well: an empty unit and an occupied home may not invite the same offer.
 
I’m not convinced local supply is necessarily the main driver. It could just be the most visible one. If five comparable units are listed but their owners are all prepared to wait, that is less negotiable stock than one seller who needs a quick deal. New-listing volume should be read alongside price-cut timing and seller motivation.
 
A practical way to test it: track each candidate building in its own sheet. Record original ask, later cuts, days visible, condition, whether it disappears or returns, and any completed price you can verify. Keep the two neighbourhoods separate. After a few weeks, you should see whether discounts follow listing competition, property condition, or time on market.
 
One caution on price cuts: a late reduction does not automatically show a weakening market. It may only correct an unrealistic opening price. I’d compare the revised ask with completed sales in the same building before treating it as evidence. For an offer, use the closest comparable unit and adjust for condition rather than simply subtracting 6.6%.
 
Useful points. I don’t currently know whether the 33-day figure follows withdrawals and relistings, so I won’t rely on it until that is clear. I’ll separate the two neighbourhoods, then track individual condo developments, completed sales, new listings, withdrawals and the timing of cuts. For any offer, condition and a seller’s apparent flexibility will carry more weight than the citywide 6.6% movement.
 
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