“Your property. Fully utilized. Returns maximized”
There is an oversupply of residential property space in the Klang Valley area. Properties are simply not utilized and left vacant especially for living in residents. Property assets that are built are gradually turning into liability instead, coupled with rising cost of building maintenance and even more properties being built in the surrounding area.
Global and local economical situations does little to facilitate real estate transactions. Apart from the stringent loan requirements from financial institutions that are said to have caused the drop in the number of property transactions, the increasing cost of living and economic uncertainties have led to an upswing in worries about job security, resulting in more cautious consumer spending. These and more will have led the market to consist of more genuine purchasers with speculative sentiments not as strong as during the boom period of previous years.
By capitalizing on the trending “sharing economy” boom and the rise of online travel agencies such as booking.com, agoda.com, traveloka.com and even airbnb.com owners can transform the property into a short term home with professional and efficient accommodation services like front desk, housekeeping, laundry, electrical and plumbing maintenance.
An online study in May 2017 suggested that there are 148 million rooms booked on the internet every year. 65% of those bookings were made on the same day on a smartphone.
In 2017, Klang Valley alone has 6291 active airbnb rental listing. The breakdown is as follow:
|Type||Number of listings (units)|
The average annual occupancy rate for all types of listings in the Kuala Lumpur area is at 60%. This varies greatly to each area based on location, price and other factors. High performing areas such as KLCC and Bukit Bintang usually garners occupancy rates as high as 70%-90%. The following are the average monthly revenue for top 20% of a airbnb units in the Kuala Lumpur area alone. From Jan – July 2016 (USD) [source]
If you have a property that has potential but simply lack the time or expertise to tap into this gigantic accommodation market, we can help you! Simply contact us and we will take you all the way. There are no sign up fees or monthly fixed fee. Our commitment to you is that if you don’t earn, we don’t earn. So don’t wait another! The peak season is just around the corner, travelers are incoming. Capitalize! Reach out to us now, sit back and relax and earn.