Ever since the outbreak of political tsunami on March 8, the residential rental market has turned soft in Kuala Lumpur. The expatriates have been holding back in view of the uncertainty prevailing in Malaysia.
Coupled with an increase in the units available, the market is fast turning into a tenants' market, with landlords losing some bargaining power.
The soft market may persist for a few more months before a recovery is foreseeable.
The latest political bombshells and a hike in petrol prices have simply made the business situation in KL more nightmarish. I just learned that certain eateries in KL have put on offer a 50% knock-off during lunch hours in a desperate fight for survival.
Judging from the prevalent tightness, the woes are not going to be over soon.
The picture shows Desa Putra Condominium project in KL.