The ban on short-term rentals in Penang has had an unexpected consequence: an increase in property values and rental yields. Eastern & Oriental Bhd (E&O) has reported these positive trends, noting that their property developments in Penang were never intended to be marketed primarily as investment opportunities. According to Datuk Tee Eng Ho, the executive chairman of E&O, properties without...
Malaysia's tourism ecosystem has embarked on a resilient post-Covid comeback, driven by strategic efforts to enhance its appeal to global travelers. Initiatives like the introduction of a digital nomad visa and a focus on cultural and heritage tourism in the recent Budget 2024 announcement have positioned Malaysia as an attractive destination. One of the key factors enriching Malaysia's allure is its...
In a significant development, Airbnb, a prominent player in the vacation rentals and tourism sector, has joined hands with the Town and Country Planning Department (PLANMalaysia) to establish a unified set of guidelines for short-term rental accommodation (STRA) across Malaysia. This strategic collaboration marks a crucial step toward ensuring the structured growth of the short-term rental industry in the...
Is short-term rental accommodation (STRA) a feasible answer to the nation's rental and property excess concerns? Turning unused property into STRA may offer homeowners a viable option to generate supplemental income to cover their monthly mortgage expenses, despite it possibly causing inconvenience for other unit owners, suggests Albert Tan, a financial adviser with expertise in real estate dealings. Tan...
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