I know, there remains many questions about the government’s intention to build 1,000,000 affordable homes within 10 years. (click to read more) Perhaps it’s more of planning for it instead of the number. Just wanted to make sure all the built will be taken up by fellow Malaysians. Definitely not for Malaysians who bought and then rent them out to foreign workers! Take stern action if someone does that. Anyway, what will happen to the society when those really needing a home could not get a roof over their heads and when they apply for one, they need to wait for many years to get a small unit? Hopefully, we do not reach this stage some day in the future.
Article in TheStar.com.my Hong Kong is one of the world’s most densely populated and expensive cities in the world. Recently there was the huge march against a proposed new bill and Reuters spoke to 11 young people and these are some of their comments.
“Housing is one of the most important ones. We have so little room in Hong Kong and people find it hard to buy a flat. The property companies control the market.”
Another mentioned that the system has robbed him of the chance to ever own his own home. He was staying in his 54 sq ft room in his parent’s home.
Another who was also staying with his parents said, “It’s just hopeless for young people to grow, to develop their career because of the pricing problem.”
There are a lot more references. Please do read the full Article in TheStar.com.my
There are many issues with the property market in Malaysia. Unsold units… Unprofessional developers… Price seemingly too high (in all those favourite areas)… and more. However, what we need to focus on would be how to make it better. Relevant ministries just have to plan better. REHDA just have to be stricter with some ‘bad’ members. Buyers just have to manage their expectations based on their budgets. Media must be more RESPONSIBLE with their reporting and many more. Let’s keep making everything better because we do not wish to have households who needs a home unable to get a home. Malaysians should have a property to escape poverty (click to read). Happy investing.
Next suggested article: Banks are lending. Proof here.