Rental Depreciation
As a fall out of the global economic meltdown, the rental value of houses has come down markedly, by about 20 to 25 %. The reason behind this is that the recession has triggered a chain of events. The multinational companies who set up shop were earlier paying handsome rental allowances for their employees. But now, with their profit margins being narrowed, they are cost cutting, laying off employees and as a result the demand for rented houses have come down. Those who are eligible for rent allowances, have a budgeted allowance for rent. The property owners are giving better facilities now than before and at such affordable rents.