Weekly Industry News

Higher demand for Serviced Residences

Weekly Industry News

SERVICED residences experienced the most significant growth in demand at 14.7 per cent in the first half, according to a report by iProperty.com.

This was due to the decrease in the median price for such units by 8.2 per cent to RM490,000, making the property type more affordable — with a slightly lower entry price within and around city centres, said Premendran Pathmanathan, customer data solutions general manager of REA Group Asia — the owner of the iProperty portal.

“The attraction of serviced residences goes beyond affordability when built right. The appeal is also in the right address, accessibility to public transportation and availability of commercial elements.

Media Title:  New Straits Times

Date: 24 Aug, 2019

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