If you’re like me, middle-low class yet homeless, then dwell on.
It’s quite shocking to see the price of real estate nowadays. Some ‘elite’ places around KL costs 7 figures! When I check with the developer, their target is for foreigners who earns multiple times yet produces so little. Why are we selling houses to foreigners? we buy houses in Cincinnati, OH or in a place akin, and the next thing we do is sell it away promptly. Is this the inevitable 2nd-time colonization by the east?
Taken from MalaysiaKini.
Look at the price (though a bit old), but hey, that’s almost RM500k per house in KL. Would anyone with a household income of 4-5k per month be able to buy these houses? I guess not. Normally, you’d have to fork out 10% deposit, a pretty huge amount of money.
We might find the urge to buy now, or many later in years to come. But by 2030, I doubt our kids can afford anything. Poor babies, living in very stressful life.
My dad told me, his first pay as an engineer back in the 80’s was RM800. Now our engineering fresh grad can fetch up to RM 2,000. The price for a house then was, RM 50k-100k around Bangsar. Today, if you don’t have RM 1 million, don’t even think about owning a high rise around the same area. So simple math, salary increase 3 folds, but property, 10 folds.
What saddens me most is how our developers maximizes their profit by building vertically, 10 – 20 stories high! Imagine every tenant wants to go out to work at rush hour, the traffic starts at the car park. A good idea would be, buy a condo at RM 500k and get a kapcai. Anyway, who am I to question inconsiderate house developers? They’re not in the business of building HOME, they’re building houses for ang mo.
I guess it’s eminent, we (locals) stay outside the ring, while foreigners stay inside.
“Bumi dipijak milik orang.” Padan muke aku, kau dan cucu cicit kite.
Also read: How You Can Use Austin Tenant Advisors.