Reported about 1 year ago
The Consumer Price Index for housing rentals in May rose by 2.6%, the highest in 28 years, impacting the quality of life for renters as essential expenses increase. Experts note a spiral between inflation and rent increases, with rising inflation likely leading to higher rents. Factors contributing to the trend include high overall price increases, rising residential maintenance costs, interest rate hikes, and increased property holding costs. Efforts to assist renters amid the continuous rise include rent subsidies and tax deductions, but concerns persist over the effectiveness in curbing the rental market.}
Source: YAHOO