More people vacating rental properties: Dr Hassan
REALB Chair Dr Abdul Hassan says some of the agents have raised concerns with them regarding the reduced activity in the market due to the deadly virus.
“Well, of course, agents they depend on the commission they collect through transaction so if the number reduces then, of course, their income will also drop.”
The REALB believes a lot more people are moving out of rental properties and staying with families.
“There are a number of factors that are affecting the rental properties. Firstly people have been laid off and there is no income and secondly, the number of hours of work has been cut down and income has dropped.”
The Board believes it will take more than 6 months for the sector to recover.
