That Charles Tan of kopiandproperty.com (yeah, that’s me) said that one should buy within one’s affordability and upgrade when we earn higher salaries in the future. There’s really nothing wrong to buy a smaller unit or at a place slightly further away when one is just starting. Hopefully I could upgrade again in 2021 (yea, this is a target). Within Asia, Malaysian employees are getting higher increments than their counterparts elsewhere. Read that article in NST here. We are also the only country leading all the rest for employers giving car allowance to keep their good staffs. As for high salaries, it seems that we are going to have more of them coming.
Article in TheMalaysianReserve here. As businesses mature, Datuk Zainal Amanshah of InvestKL Corp thinks more Malaysians will move to high-ranked jobs in MNCs. He said 11,693 high skilled jobs were created out of MNC’s investments through InvestKL and currently, 64% of it have been on the payroll. He stated that companies prefer to bring in their expertise for skilled jobs and high-ranking positions so they could hit the ground running. However, more senior management positions will be filled by Malaysians as local talents will be developed.
According to a survey by InvestKL, 80% of realised jobs went to Malaysians while the remainder were occupied by expats. Zainal said companies from the US, China, EU, UK, Japan and South Korea are aimed to invest in Malaysia as the focus is on smart technologies, consumer technologies, e-commerce and several others. As of December 2018, InvestKL has secured 78 MNCs and has RM11.7bil worth of approved investments, of which 57% of it have been realised. Article in TheMalaysianReserve here.
What happens is the top management of these MNCs may be foreigners in the beginning. As their Malaysian staffs continue to move up the corporate ladder, one day they will take over too. These highly-skilled staffs will be paid salaries which are equivalent to what the MNCs are paying their staffs in their origin countries. Many of these Malaysians could also be working around the world in the future. This meant their salaries in Malaysia will be well within the the top 1% of all Malaysian employees. What does this bring to the property market? Higher prices for properties which are in demand, especially those which are close to where these MNCs are located. Therefore, it’s good to also note the locations where there are many of these MNCs when we are buying a property aimed at them in the future. Happy following.
written on 23 March 2019
Article written and edited by Charles. News article summarised by Dina Batrisyia.
Next suggested article: Better to Rent or Buy? Property thoughts