Our ongoing battle with the Covid-19 pandemic has lasted much longer than expected. Unfortunately though, no one knows when this battle will end.
The struggle is real – and the Covid-19 fatigue is starting to affect the lives of many. The strain for survival is being felt in all economic sectors, one of it in particular being the property market.
A significant reflection of this is the levelling down of the rental rate for residential properties, especially in expatriate preferred locations.
This is attributed to a much smaller number of relocations to Malaysia and expatriates moving back to their home country in view of travel restrictions. These considerations have driven down the cyclical demands by at least 10% to 20% and have greatly impacted the rental revenue of these mid to high end properties.