Factors affecting rental prices of residential apartments in Kuala Lumpur

This study investigates the factors that affect the rental prices of residential apartments in Kuala Lumpur, Malaysia. Thus, as urbanization accelerates and housing demand rises, tenants, landlords, and governments must understand the factors that influence rental costs. Multiple linear regression analysis was used on a dataset of 1335 entries from the Kaggle platform to investigate the relationships between rental prices and six key factors which are the number of rooms, parking spaces, bathrooms, unit size, presence of security, and the location near KTM/LRT. The findings found that all the factors had a significant influence on rental prices of apartments and interestingly, only the number of rooms displayed a negative correlation with rental prices, suggesting niche market preferences. Approximately 33.4% of the total variation in rental prices was explained by the number of rooms, parking spaces, bathrooms, unit size, presence of security, and the location near KTM/LRT. In summary, this research provides useful information for stakeholders to make informed decisions about rental pricing, property investments, and housing policies. In addition, future research should broaden the geographic reach, integrate new factors, and investigate the trends market to better understand apartment rental price dynamics in Kuala Lumpur.