Klang Valley property rentals have risen up to 20pc this year: https://www.nst.com.my/news/nation/2024/02/...20pc-year-nsttv

KUALA LUMPUR: Rentals for properties in the Klang Valley have experienced an increase of 10 to 20 per cent this year, with some property agents not excluding the possibility of further increments.

Real estate agent Jonathan Kiang Kai Ming said rentals were picking up after recording a significant reduction during the Movement Control Order (MCO) following the Covid-19 pandemic. He added that rentals were currently higher than the pre-Covid period.

"Last year and this year we saw an increase in rental rates. During MCO the rental rate was low but it is picking up. The rental rate (now) is higher than during the pre-Covid period," he said.

"Areas that are picking up quickly include Bangsar, Bangsar South, Month Kiara, Damansara Heights and KLCC," said Kiang, who has been in the real estate line for five years.

Property negotiator Nurrul Nadia Syidha Abd Raoof said it was normal for rentals to go up every year, especially when the economy grows.

Are you guys seeing this in your property portfolio?

More than 10%.
Just took out my calculator, actually 32.5% increase on average as compared to during mco. But I must admit rents during mco was lowered. But as of now. Its still more than 10% higher on average to even pre pandemic.




quote=contestchris,Feb 15 2024, 01:48 PM]
Are you guys seeing this in your property portfolio?

[/quote]

'Real Estate said'... 'Property Negotiator said'... Ok I skip and never trust them..

My experience is yes, rental in my portfolio has increased. But taking into account the increase in interest rates, the actual yield margin is mitigated but still ok overall.

As if over supply is irrelevant.

Depending on location... And type of property involved...

20% is actually wayy above average... Over boosting.....

Partly because of agent too... Enticing some owners to push out those low paying tenants & bring those so called high yield high paying tenants in 😃

dont feel it

The areas are named. It’s all the typical blue chip expat and affluent local areas. They took a big hit during Covid and are heavily reliant on the international market to sustain.

The affordable options for bargain hunters remain thanks to oversupply. If u want cheap units or rooms there’s still plenty around. You just need to hunt and not have too high expectations to score yourself a nice new clean unit with decent facilities.

Cost of living in developed countries are skyrocketing so KL remains a compelling value for money option.

This post has been edited by Cavatzu: Feb 16 2024, 08:59 AM

nope, always can found cheap rental place, just rent the whole unit and sub-rent to others, don't stupid stupid rent a room from agent

if rent thru agents sure higher one...

they also needed to survive lorh... additional "services" fee incur

Good luck finding tenants.

I dont feel it either, when tenant is requesting to sign a longer term contract as they have more options to choose a better rental price

Last year increase 5%, this year another 5%.

Demand for good location condo in the Klang Valley far outstrips supply.

Writing article based on info from real estate agent and property negotiator haha. IMO nowadays people have a lot more options and yes you can put higher rental prices on your rental units but good luck finding tenants.

Dengar boleh, percaya jangan

commercial i.e shop, yes. residential and office, nope. my own portfolio.

"Areas that are picking up quickly include Bangsar, Bangsar South, Month Kiara, Damansara Heights and KLCC," said Kiang, who has been in the real estate line for five years.

Only this area involved. Other area rental might be stagnant.

Condo maintenance fee, repair and renovation fees also increased.

increased rm200 over 1100 rental ie. 18.18%, many prospect tenants are queuing to view.

Yes

grooming news nieee....

all driven by demand... when economy slumps... so does rentalz... and we are already in/goiing in a technical recession...

better to take care of renters and hope you still have steady income stream than to scare them away with irrational hikes...

Kondo rakyat - which is a low cost development has seen rents go up from about rm 700 to RM 1 k. Some units have been renovated very well and made into student hostels cam fetch up to RM 1.5k

If you already have an existing tenant who is a good paymaster, just maintain. Not worth the hassle for a couple hundred. But if your tenant is leaving, of course it makes sense to raise the rental for the new incoming tenant.

biar betik, my condo rental stagnant for years, and now a lot of bosses rent condo for their foreign workers

I rented the place I stay now during pandemic. Since then for the 2 renewals there has been a hike of 15% each time.

And you're okay with it?

Yup, after surveying surrounding market, all are also hiking hence make no sense to move around. More troublesome. I'd say my rate is already quite ok in the area.

Didn’t pandemic prices go down like 30%? Probably just at pre-pandemic levels now. The effort to move and find a new place makes many tenants stay put.

Mind asking how much you paying monthly???

Not sure about that. I don't have the pre-pandemic data to compare to. But looks like the rental here keeps on rising la haha. True about the moving. If I'm single then I'm ok to hop. With kids? No thanks.

2.2k for a 1+1 room

not bad

for the owner

No choice, use money buy convenience lor hehe Pay money to save time ma

That price range and convenience, sounds like Bangsar south, KL central.

Yeah, super convenient location with public transport

Ooh...
If like this, the rate could go 2.5k & above 🤔

This post has been edited by nexona88: Feb 23 2024, 11:29 AM

Yup, easily 2.7 2.8k for a 2 room unit. Even pantai dalam is requesting 2.2k for a 1+1 room. I better stay put Tried survey some other area like Sentul, 2 room they are quoting me 1.9k. Crazy time.

damn...
Pantai Dalam already hitting 2.2k huh??

last time, few years back I think... can get below 2k
good old days

No more lo. I think in 5 years time will high newer high

Doesn't make sense to move from bangsar south to sentul. Same goes to buying for ownstay

It's getting higher by the year 😁

It only make sense if Sentul rental is below 1.3k. That was 1+ year back then. Hence I decided to stay

Ya lo. Buy better. Self-control of everything. Given that affordability is not an issue

Good location always in demand one... No matter what...

Maybe mco slowed down a few new developments and now the demand is much higher than new supply coming in. Few projects got massive delayed