Malaysia shop market 2026 in numbers: transactions, overhang, prices

Shops are still Malaysia's most traded commercial property. NAPIC recorded 19,551 shop transactions worth RM19.85bn in 2025, and 9,060 worth RM9.67bn in the first half of 2026. Unsold completed shops fell to 6,124 units in H1 2026, but they are concentrated in older projects outside KL, which had only 10 unsold shops in 2025. Established areas held or raised prices.

All figures below are from NAPIC (the National Property Information Centre), via its Laporan Pasaran Harta 2025 and H1 2026 reports, and estatemarketpulse summaries of them (1 Mar 2026 and 21 Sep 2026).

Two points stand out. First, shop volume was almost flat, but value rose in both 2025 and H1 2026, so the average deal got larger. Second, in H1 2026 two to 2.5-storey shops made up 54.1% of all shop deals: the classic shophouse is still the core of the market.

By state in 2025, Johor led by volume with 4,219 shop deals (21.6%), and Selangor led by value with RM5.89bn (29.7%).

The 2025 overhang by state shows where the problem sits:

• WP Kuala Lumpur: only 10 units (RM3.50m).
• Selangor: 514 units (RM657.04m).
• Johor: 1,146 units (RM1,069.15m).

The age of the stock matters even more. In 2025, 82.9% of unsold completed shops had been unsold for over 5 years (49.3% for 5 to 10 years plus 33.7% for over 10 years), according to NAPIC's Status Report 2025. These are units stuck in specific projects, not a sign that every shop is hard to sell. We explain why in Shop overhang in Malaysia: why do new township shops stay unsold?

Supply keeps coming. At end-June 2026 NAPIC counted over 562,000 existing shop units, nearly 22,000 incoming and over 13,000 planned. IQI (26 Oct 2026) noted that completed shop units more than doubled year on year in 1Q2026, and advised: "Well-located shophouses in busy townships still rent well, but check local vacancy before paying new-launch prices."

NAPIC does not publish a national shop price index, so the useful evidence is its commentary on named schemes.

• 2025: "Upward price trends showed in strategic and well-established commercial areas". Several other schemes fell, mostly by under 10%. Double-storey shops in KL rose in Lucky Garden (+17%), Bandar Menjalara (+12.8%) and Taman Shamelin Perkasa (+14.7%).
• H1 2026: "Minimal price movements were observed in strategic and well-established locations". KL double-storey shops in Teh Wan Sang, Lucky Garden, Taynton View, Happy Garden and Salak South Garden grew 2.2% to 13.9%, transacting at RM1.38m to RM5m.

The pattern is consistent: mature KL neighbourhoods with fixed supply held value, while the weakness was in newer or secondary schemes. See Which areas' shops hold their value best in a downturn?

Henry Butcher (HB Perspective 2026), comparing January to September 2025 with a year earlier, found KL commercial transactions up 6% in volume and close to 12% in value, and Selangor down 1.6% in volume but up 8% in value. It called the commercial markets in both "generally healthy", and expects no significant change in the Klang Valley commercial market in 2026, with continued positive growth (except serviced apartments).

Malls are softer. Shopping complex occupancy was 77.9% in H1 2026, against 78.7% a year earlier, and KL fell from 87.3% to 84.6% (estatemarketpulse and IQI, citing the MOF launch speech of 10 Sep 2026). That matters for street shops because brands now compare mall lots with shoplots more closely; see Malls or shoplots: where do China brands open first?

Yields tell the same story. PropertyGuru says well-located shops typically yield 5% to 8%, and IQI gives 5% to 7% gross; the most mature hubs yield less, such as about 4% for SS2 whole shoplots, because prices are bid up. Read Why do investors still fight for SS2 shops at about 4% yield? and test your own numbers with the rental yield calculator. Current asking rents by area are on the shop rent index, and buying guidance is on the buyers page.

As of 14 Nov 2026, NAPIC's Q3 2026 figures have not been released. We will update this page when they are.

Written by Tok Ginstee (REN 37505), CID Realtors Sdn Bhd (E (1) 1855). Updated November 2026.