IQI has recently introduced the first Malaysia Home Rental Index. The index has unveiled a significant 5.5% surge in rental rates in 2023.
This data provides valuable insights into Malaysia’s rental market’s performance and trends.
Kashif Ansari, Co-Founder and Group CEO of Juwai IQI highlighted the significance of the Rental Index, emphasizing that “The data reveals that rents across Malaysia increased by 5.5% in 2023. Rents are now 7.4% higher than during the pandemic’s worst phase.”
The rental market in Malaysia experienced growth throughout the year, reflecting the increasing demand for residential properties.
Factors such as urbanization, population growth, and changing housing preferences have contributed to this upward trend in rental rates.
Kashif Ansari said, “For investors, rising rental rates can offset the costs that come with higher interest rates.”
According to Global Property Guide, Malaysia’s average gross rental yield as of the second quarter is 5.16%. Among the cities, Johor Bahru, Iskander Puteri, and Subang Jaya offer the highest yields, with Johor Bahru leading at 6.23%.