The national property rental demand declined by 5.6 per cent year-on-year in the first half (H1) of this year due to the COVID-19 outbreak, according to online property site iProperty.com.my’s H1 2020 Property Demand Analytics.
The market recovery towards the end of H1 2020 dampened the initial effects of the pandemic and contributed towards a lower overall decline, iProperty.com.my said in a statement today.
Its analysis was based on the portal’s user visits and residential property listing data with a particular focus on Kuala Lumpur, Selangor, Penang and Johor. The rental analytics, said to be the first of its kind in Malaysia, looked at three property types: terrace houses, condominiums, and serviced residences.
