Klang Valley rental market is recovering
What’s going on here?
According to PropertyGuru Malaysia, the median rental price for the best high-rise residential properties in Kuala Lumpur and Selangor increased by double-digit percentages in 1H22 compared to 2H21.
What does this mean?
The platform has observed a 34% search increase for rental properties in H122. With the rising interest rate and cost of living, renting is a viable option for consumers who are looking for more freedom and flexibility as well as a financial advantage. The encouraging rental price growth of several top properties in the Klang Valley is also an indication that the property market has the ability to recover post-pandemic. The median rental price growth of high-rise properties in Klang Valley are primarily driven by theirstrategic location and lifestyle benefits.
Why should I care?
The vibrant rental market in Klang Valley signals an opportunity for financially-sound property investors to capitalise on the lucrative potential of rental properties in strategic locations.
[Image source: Photo by Kindel Media]