What Are The Top Rentable Houses In The New Normal?

By: Fahri Ahmed
6th Feb 2022
Property News

The pandemic has made the tenant’s market more favourable in the new normal. The purchasing power of people has decreased and job stability has become uncertain. People are not sure if they can follow through with the loan instalment if they buy a house. They may even have to relocate or find alternative income sources if they lose their job. So, this might suggest the preference to rent a suitable house rather than buy a house until the uncertainties settle down.

People’s requirement for a house has also drastically evolved. Previously, people looked for homes close to their office or children’s school. But now, tenants look for houses that can serve as an office, business hub, apart from their varied other needs.

Here is a list of top rentable houses in the new normal to cater to today’s tenants:

1. Terrace houses

The year on year demand for terrace houses has increased by 14.1% in the first half of 2021 as per a report by The Star. Such houses can accommodate more family members, have sufficient room to work from home, or operate online business from home. The tenants also get the privacy that lacks in condos and high rise buildings. As such, terrace houses have now become one of the top rentable houses in Malaysia.

2. Semi-detached houses

Semi-detached houses are also high in demand especially in the Klang Valley and Johor. Such houses in self-contained townships like Setia Alam and Bukit Sentosa offer privacy and seclusion, away from the buzzing city noise. These houses also have enough space to work from home similar to terrace houses, catering perfectly to the needs of the tenants.

3. Serviced Residences

According to The Star, demand for serviced residences increased by 8% in 2021. The attraction to such houses is due to the nearby amenities. Apart from that, such apartments often have a terrace garden, playground or swimming pool, which makes it easier for tenants to live within the enclosed area without having to go out in times of movement control orders (MCOs). They can find entertainment sources or get their basic needs without having to crowd in busy shopping malls and restaurants.

4. Hybrid condominiums

The new normal brought about many new purposes for homes. Residential houses have transformed into workplaces and centres of home business apart from living. Due to this, hybrid condominiums found a new market. Condominiums that have SoHo apartments, marts like 7-eleven or KK, restaurants, and office blocks are in high demand.

Office goers who want a nearby place to live can rent the SoHo condos beside the office, people working from home can stay in the residential part of the condo while the food shops and marts fulfil their needs for groceries and meals.

5. Spacious housing in the city fringes

A recent survey by Jobstreet showed that multinational companies and high-income staff in the IT sector in the Kuala Lumpur area are more likely to work from home in the new normal. People do not need to stay in city centres for their jobs anymore. Rather, they need larger, more spacious houses where they can work from home. So, many people are now looking to rent bigger houses in the city fringes. Houses in city fringes have lower rent that also helps to reduce their living cost.

6. Houses with nearby amenities

Though tenants prefer bigger houses in the city fringes, they need amenities within reach to sustain their daily needs. People hesitate to travel too far for basic needs in fear of exposure to Covid-19. So, houses with nearby shopping malls, schools, education centres, commercial zones, food courts, petrol pumps and restaurants are one of the top choices of today’s tenants.

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