{"id":83086,"date":"2024-04-17T14:40:34","date_gmt":"2024-04-17T06:40:34","guid":{"rendered":"https:\/\/iqiglobal.com\/blog\/?p=83086"},"modified":"2026-01-09T16:02:00","modified_gmt":"2026-01-09T08:02:00","slug":"millennials-dominate-rental-market","status":"publish","type":"post","link":"https:\/\/iqiglobal.com\/blog\/millennials-dominate-rental-market\/","title":{"rendered":"Kashif Ansari: Millennials Dominate Rental Market in Malaysia"},"content":{"rendered":"\n

Juwai IQI co-founder and CEO, Kashif Ansari revealed his opinions on the rental market in Malaysia.<\/em> <\/p>\n\n\n\n

Millennials <\/strong>were the largest group of renters<\/strong>, comprising 37.8% of all rental transactions in the country.<\/p>\n\n\n\n

According to Juwai IQI’s 2024 Home Renters Generational Trends Report<\/strong>, Generation Z will represent 30.7% of rental transactions, becoming the next largest segment.<\/p>\n\n\n\n

Juwai IQI’s co-founder and CEO, Kashif Ansari, highlighted Generation Z’s notable surge in rental transactions over the last five years.<\/p>\n\n\n\n

Despite representing only 2.7% of transactions, baby boomers <\/strong>currently pay the highest average rent<\/strong>, with an average of RM2,120 per month, according to Kashif.  <\/p>\n\n\n\n

Apart from Gen Z, all other age groups saw a decline in rental transactions from 2019 to 2024, with baby boomers’ share halved.<\/p>\n\n\n\n

Generation Z encompasses individuals aged 15 to 29 years old, millennials include those born between 1980 and 1994, and baby boomers consist of individuals born from 1946 to 1964.<\/p>\n\n\n\n

In 2023, the study revealed that Generation Z and millennials paid an average of RM1,750 and RM1,862 monthly, respectively.<\/p>\n\n\n\n

Despite the pandemic’s effect on rental rates in 2020, baby boomers remained the top-paying renters from 2020 to 2022, with an average below RM2,000. Their preferences leaned towards landed properties, according to Ansari.<\/p>\n\n\n\n

“Baby boomers paying the highest rent makes sense, given their typically higher incomes, savings, and larger family-sized homes,” Kashif explained.<\/p>\n\n\n\n

Individuals aged 79 and older, commonly referred to as builders. They accounted for less than one percent of rental transactions in 2023. <\/p>\n\n\n\n

Learn more here:<\/em> N<\/a>ew Straits Time<\/a><\/strong>, Dagang News<\/a><\/strong>, Malay Mail<\/mark><\/a><\/strong>, Yahoo! News<\/a><\/strong><\/em><\/p>\n\n\n\n

\n\n\n\n

Juwai IQI, a globally recognized real estate firm delivering valuable property insights at both local and international levels.<\/mark><\/strong><\/p>\n\n\n\n

Explore our blog for easy-to-understand property insights and stay informed about the latest trends in real estate!<\/mark><\/strong><\/p>\n\n\n\n

\n
MORE INSIGHTS<\/a><\/div>\n<\/div>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

Juwai IQI co-founder and CEO, Kashif Ansari revealed his opinions on the rental market in Malaysia.  Millennials were the largest group of renters, comprising 37.8% of all rental transactions in the country. According to Juwai IQI’s 2024 Home Renters Generational Trends Report, Generation Z will represent 30.7% of rental transactions, becoming the next largest segment.…<\/p>\n","protected":false},"author":92,"featured_media":83111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","postBodyCss":"","postBodyMargin":[],"postBodyPadding":[],"postBodyBackground":{"backgroundType":"classic","gradient":""},"footnotes":""},"categories":[220],"tags":[231,304,374,305,224],"class_list":["post-83086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-iqi-en","tag-malaysia","tag-press-en","tag-property","tag-real-estate"],"yoast_head":"\nKashif Ansari: Millennials Dominate Rental Market in Malaysia<\/title>\n<meta name=\"description\" content=\"Millennials were the largest group of renters, comprising 37.8% of all rental transactions in the country.\" \/>\n<meta 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