In May, the total rental contracts reached 35,327 registered leases of which 59.6 percent were new contracts while 40.4 percent were renewed. Annual contracts acquired 80.9 percent of the total contracts while 19.1 percent were non-annual.
The registered leases for residential purposes acquired around 73.8 percent of the total contracts, while 25.3 percent were registered for commercial purposes.
Comparing the overall performance of the first five months of 2022 to the same period in 2021, year-on-year, the total number of rental leases increased by 2.1 percent driven by the renewal contracts which increased by 4.4 percent compared to the first five months in 2021. In addition to an increase in the annual leases by 11.5 percent. As for the rental properties by usage, the commercial rental leases witnessed an increase of 8.47 percent compared to the first five months in 2021.Read More