The topic of house prices being unaffordable for local residents is true for most parts of the world. Even in the United States, they are suffering from a major inflation hike. Furthermore, Malaysians have been complaining about looking for an affordable home in an ideal location.
Houses in Malaysia are unaffordable
According to a study done by Bank Negara, the median income of Malaysians shows that we are able to afford a home that costs around RM300,000. However, only 30% of homes built cost that much. Most houses are significantly more expensive than that, and the odd thing is they might even drop in value after a few years.
Others have been waiting for over 10 years for the property bubble to burst. However, it seems that is not happening. The salaries are still low here, and the costs of goods are rising. This problem needs to be solved in order for everyone to be able to own a home.
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