KL: AirBnB Boom Continues

Despite looming regulations over AirBnb rentals, the number of units on offer is set to rise over the next few years, partly fuelled by rising vacancies in high-end condominiums.

In 2018, Malaysia was ranked as the third most visited country in Asia with arrivals of 26.8 mil, ahead of Hong Kong’s 26.6 mil. “Tourism contributes about 15% to our economy, hence it’s becoming a trend to own tourism-related properties. Although the government will soon require AirBnb operators to register their units, the opportunities are still there,” Founder of Wealth Momentum, Dr Ivan Kok said during a recent forum in Kuala Lumpur.

Within Malaysia, the city with the best quality of life is its capital, Kuala Lumpur. It ranks just behind Singapore as Southeast Asia’s city with the best quality of life, according to Mercer Quality of Living City Ranking 2019 survey.

KL is also the air transport hub for Asia’s largest low budget airline, Air Asia, with millions transiting at the KLIA2 airport annually. Most people around the world now know about KL and arrivals are due to rise in the coming years. The depreciating ringgit also makes it a bargain to travel here with KL having one of the cheapest rates for 5-star hotels in the world.

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