Are you working in Kuala Lumpur (KL) and intends to buy a home within KL? Good news for you if you are under Middle Class. Federal Territories (FT) Minister Khalid Abdul Samad said that the middle class group who could not afford a home in Kuala Lumpur will be a priority under the Kuala Lumpur 2040 Master Plan. Article in Edgeprop.my here. What has been established thus far is that middle class people could not afford a home in Kuala Lumpur even when they earn a salary of RM5,000 per month. In fact many have complained that the authorities have not included them during the policy making.
Khalid said, “Previously, the issue of homes for the middle class was not fully addressed. You find young professionals earning about RM6,000 a month who cannot afford to buy a house. They don’t qualify for low-cost housing and they wouldn’t want to live there either. But they also can’t afford open-market houses because those cost at least RM500,000 and can exceed RM1 million.” (Frankly, ‘would not want to live there’ is really a choice yeah. Just search the popular property portals and there are definitely still affordable properties which are not low cost flats. By the way, most Singaporeans stay in flats too BUT theirs are well maintained. Think what we could do really differently here dear FT Minister)
Khalid’s ministry is also mulling the purchase People’s Housing Project (PPR) homes so that they can be rented out to those who cannot afford to buy low-cost units. (Yes, I think this is a good move but may not be that relevant to the group who has a RM6,000 monthly salary yeah. Something is really wrong if this group could not afford even an affordable home simply by saying the cost of living is too high.) Here’s that article in Edgeprop.my for reference again.
We have easily 50 percent of Malaysians earning less than RM6,000 per month today. How about understanding why some of these people are MORE successful than others when it comes to owning a home versus owning a car. How they have no issues to drive a cheaper car instead of paying until the borderline of their salary every month. How my ex-colleague lunches by bringing her lunch from home and bought a second property in 2018? Of course we must help as many Malaysians as possible. However, perhaps EDUCATION is one of the most important part. It’s just like teaching our kids too. Happy understanding.
written on 10 Dec 2018
Next suggested article: Kuala Lumpur condos are now RM700k on average.