Ever wondered if a home of 160 sq ft is enough for a couple? Actually, there are homes of this size in Hong Kong which are being purchased by working professional couples. The major reason is due to price. Here’s one earlier article: Tesla vs micro-sized flat? What about Malaysia then? How much space is enough as a home for a couple? 500 sq ft? One room, one bathroom and a cosy living room?
What about a family of 4? The affordable 900 sq ft? 3 rooms, 2 bathrooms and a cosy living room? Well, the image shows where Malaysia is when it comes to average house size within ASEAN countries. We are TOP in terms of size. Article in Edgeprop.my here. Size of homes in Cambodia is only 1/3 that of Malaysia. Our neighbour, Singapore and Thailand has average home sizes which are also smaller by 100-200 plus sq ft too. Does this mean the home prices are still low here? Haha. For the purpose of this article, we talk only about the size then.
When it comes to historical numbers, the average home sizes have always been hovering above 1,500 sq ft for the past few years. 2018 is the first year that the average size has dropped to 1,264 sq ft. When we look at what our KPKT Minister has announced, I think this average size of homes will continue to drop. Imagine 1,000,000 new affordable homes which are mostly below 1,000 sq ft over 10 years or 100,000 units per year.
For those who does not know, the median price of a home in Sydney is over AUD1 million. Then, why is the average size of homes still so huge? Actually, all the newer homes are being built in suburbs and not within the city centre anymore. When they are built further away, the sizes can be much larger too. This is why the average size remains huge. However, as soon as we zoom into the city centre and we look at the high-rise units being built, it cannot be over 2,500 sq ft as per the image. 🙂
When it comes to the world, Malaysians have home sizes which are within the top 10 largest in the world. So, let’s be proud of this fact yeah. We are not living in cramped spaces. At least not yet anyway and if we look at the MRT coverage, I think we could also afford to stay further too which helps in the average size of homes too. Take a look at the image yeah. As for full reference to the Article in Edgeprop.my click here. Last question is this. Is your home LARGER or SMALLER than the national average? Happy following.
written on 9 Feb 2019
Next suggested article: The median price need not be the transacted price too