Feb 16 2024, 08:52 AM
QUOTE(contestchris @ Feb 15 2024, 01:48 PM)
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.
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.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.
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
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