T
hese days, many people prefer
Valley Expressway (NKVE) links Petaling
beverage (F&B) outlets, hospitals, and the
to rent instead of purchasing a
Jaya to neighbouring suburbs. It is also
list goes on. This explains why the city tops
home for their own stay. There are
well connected in terms of its public
the most rented locations for Q2 2016.
many reasons for this, and the situation is
transportation network which includes the
Besides Petaling Jaya, the other areas
compounded by our country’s uncertain
light rail transit (LRT) service and the free
which made it to the top five most rented
economy, weak sentiments towards the
PJ City Bus.
locations are KLCC, Mont Kiara, KL City
property market, affordability concerns
This mature city has been experiencing
and tight lending rules set by financial
rapid growth for many years with numerous
At the moment, the rental market
institutions.
and Cheras.
developments pouring in. Now it can be
appears to be performing well as many
In addition to this, the recent exit of
considered almost wholly developed with
people
Britain from the European Union (Brexit)
the scarcity of land being a major concern.
However, this situation may take a turn
has added to the chaos, throwing the
Hence, the number of new developments
following the recent announcement by
global economy into jeopardy. This has
launches is very limited.
Bank Negara Malaysia on the reduction
avoid
acquiring
properties.
caused the public to become extremely
Besides that, Petaling Jaya offers a
of the Overnight Policy Rate, which might
cautious in terms of investing, so the next
plethora of amenities including schools,
encourage property investment among
best option for many of them is to rent a
colleges,
Malaysians.
shopping
malls,
food
and
house. In Q1 2016, Puchong topped the list as the most rented location in Kuala Lumpur and the Klang Valley, while Petaling Jaya follows closely behind. In Q2 though, the situation changed with Petaling Jaya taking the lead. Unfortunately, Puchong did not make it into the most rented locations list. Being an established location in the Klang Valley, Petaling Jaya is preferred by many due to many reasons. Petaling Jaya comprises several prominent areas such as Bandar Utama, Kelana Jaya, Kota Damansara and Bandar Sunway – just to name a few. First and foremost, Petaling Jaya is a gem of a location. This enclave is located in between areas such as Kuala Lumpur, Puchong, Shah Alam, Seri Kembangan and Sungai Buloh. This city also houses many established and
renowned
private
firms,
which
encourages many people to consider staying in Petaling Jaya itself instead of staying elsewhere. This has lead the rental market to prosper, as the demand for rented homes is high even though it can be pricey. In terms of accessibility, major highways such as the Federal Highway, DamansaraPuchong Expressway (LDP), North-South Expressway
(PLUS)
and
New
Klang
This article is contributed by PropertyGuru.com.my, Malaysia’s leading property site
www.propertyinsight.com.my SEPTEMBER 2016 I 61