2 – 3 days ago Dan decided to cruise through Sek 9 on the way to Giant. I saw an end lot unit of a terrace house that was for sale. I had always been interested in property and quickly dialed the agent’s number. The price was jaw dropping, tear inducing, hair pulling RM 1.1 M. Could you believe it ?
A terrace house !! Granted it was an end lot but seriously ? My question is this…. Who determines properties prices in Malaysia ? What rationale do they use to warrant such high price ? What is the hope for my children’s property ownership in the future ?
All I can see is this, as more and more houses are coming up, the recent minimum price had been constant at RM 300, 000 – RM 400, 000. Never mind talking about the maximum price !! Where are the affordable ones ? And how livable are the inexpensive ones ?
A fresh graduate starting salary has always been at RM 1 800 – RM 2 000 level ( unless if you are lucky enough to get a job in Oil and Gas where it could start at RM 2 500 to RM 4 000 ) and the raise is slow and extremely steady. When would he be able to buy a decent house ?
The thing that added up high wind ( tambah naik again ) is the recent report about how much Malaysians should save for old age. If your salary is RM 4 000, you need to save RM 1 300 a month to ensure you have a comfortable lifestyle in your senior years. 4 000 – 1 300 will leave us 2 700 to pay for house, car, utility bills, car and kids ? You nuts ? The report stated that we need to have RM 1.6 M to RM 2.5 M to have a comfortable lifestyle, meaning to have roof, food and most importantly health care.
I am thinking how am I ever going to survive my old age, let alone my children ? Do I have to start thinking about doing MLM now ? Do I have to live frugally now and stop ( gasp ! shudder ! ) buying shoes ( Amelia, help ! ) ? So now, let us go back to the ridiculous house price in Shah Alam no less. Who could afford to buy that house ? Where can I afford to live now as apparently even my dear old Shah Alam is out of reach…. Rawang ?
A terrace house !! Granted it was an end lot but seriously ? My question is this…. Who determines properties prices in Malaysia ? What rationale do they use to warrant such high price ? What is the hope for my children’s property ownership in the future ?
All I can see is this, as more and more houses are coming up, the recent minimum price had been constant at RM 300, 000 – RM 400, 000. Never mind talking about the maximum price !! Where are the affordable ones ? And how livable are the inexpensive ones ?
A fresh graduate starting salary has always been at RM 1 800 – RM 2 000 level ( unless if you are lucky enough to get a job in Oil and Gas where it could start at RM 2 500 to RM 4 000 ) and the raise is slow and extremely steady. When would he be able to buy a decent house ?
The thing that added up high wind ( tambah naik again ) is the recent report about how much Malaysians should save for old age. If your salary is RM 4 000, you need to save RM 1 300 a month to ensure you have a comfortable lifestyle in your senior years. 4 000 – 1 300 will leave us 2 700 to pay for house, car, utility bills, car and kids ? You nuts ? The report stated that we need to have RM 1.6 M to RM 2.5 M to have a comfortable lifestyle, meaning to have roof, food and most importantly health care.
I am thinking how am I ever going to survive my old age, let alone my children ? Do I have to start thinking about doing MLM now ? Do I have to live frugally now and stop ( gasp ! shudder ! ) buying shoes ( Amelia, help ! ) ? So now, let us go back to the ridiculous house price in Shah Alam no less. Who could afford to buy that house ? Where can I afford to live now as apparently even my dear old Shah Alam is out of reach…. Rawang ?
My father in-law bought the land to his house in Sek 7 for RM 1/sf. Now it is about RM 70/sf. Now the question is, what made the price go up 70 times in 30 years. Who determined the price ? What can we do ??? I feel hopeless….
2 comments:
Oh inilah subjek sensasi kegemaran I!! I have been thinking about this same issue since the past 5 years lagi. When we started hunting for own house 5 years ago, masa tu the price was already madness. Tak equivalent langsung dengan real value of property. Like what you said, it does not make any sense at all terrace house corner costing RM1.1m! Yang tambah geram tu, dah selling price gila...ada jugak BUYER GILA! Sanggup pay ridiculous price and drive up the property market. Since banyak sangat luahan hati on this subject, I sambung kat own blog lah, nanti terover pulak I comment he he
I agree sangat2 that the land cost is ridiculous in Shah Alam and KL. Kitorang dah thinking nak balik kampung I when we pencen nanti to be able to have more spacious area and liveable environment. Sekarang maybe tak leh la kot cos Klang Valley is still is good place to cari makan.
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