I mean, at least housing properties have this ever present cultural pressure to keep fueling it for some time. Bussiness however are more realistic. If the location got too expensive they will simply close or move. Maybe even just do their bussines 100% online.
But all these are just my guess. Outsiders like me have no chance to see what’s behind the shop front, and bussiness, especially one in crisis, will always keep up a business as usual everything is fine façade.
Hoho, you’ve underestimate the middle income group of melaka. The place is also frequent by people from KL/Selangor, Singapore, and mostly China, but normally it’s full of young people. It’s stayed up for quite some time now, so i doubt it will just crash, but if it does it’s because Melaka is in deep shit.
As for business owner, a lot of them likely not coming from locally but other state, and even other country. That’s normal i guess, attract foreign investment and make more job for local
Donno leh, last time I lived there 10 years ago even Melaka Raya was too much for my middle income ass. I go there window shopping only. Probably mostly children of upper middle class Melaka people + out of state tourists?
Plus, afaik anyway, Malaccans don’t like going to Melaka Raya area. Hot AF. Traffic is shit. Aeon bandaraya is bettter.
But still, I really hope the state gov stop being so crazy. If not one of these days Melaka will end up losing its UNESCO status then everybody dies.