Household income less than RM1,500 per month to buy property RM220k. Wonder what is the monthly house loan instalment for let say 100% loan for 30 years??

U r right! Bolehland cannot trust toouch.
I look overall these big property owners are "cashing out"..i.e Sumway (last yr) n YTL n if not wrong a few more now Pavillion.
This is to spread out the risk if market slow and BLR increase to the public on being listed.

if make good manoey delist and corek empty and list again..like maxis.

Banks now very selective especially on commercial prop.

So think hard before investing.

U mean ur fren bought 2 property at 1.2mil this year?

I think alot of 1st time buyer actually bought their 1st house at 450k+
my fren.. 1 RM480k+
another 1 bought at puchong, 650k, she said... it's very cheap!

ppl now very rich
seems like normal double story in puchong reach 1 mil is not far from now?

loan - RM220k
DP - RM 0
tenure - 30 yrs
int. - 4.5%
monthly payment = RM1115

add on to this,
assuming wife and husband are working, each person pays rm558, which is perfectly fine

Wah... crazy... they expect people with household income of Rm3000 to take a loan of RM1115?

RM220K, sounds more like something for an exec.



This post has been edited by TheDoer: May 12 2011, 10:19 AM

1.2 million.. monthly repayment gonna cost them alot..
i'm wondering how much both of them earn monthly..

I did a quick calculation recently on monthly expense.

Assuming

Breakfast RM3 (roti + teh tarikh)
Lunch RM5 (Economy Rice + sky juice)
Dinner RM5 (Economy Rice + sky juice)
Total RM 13
13 * 30 days = RM 390

Which would be roughly RM400 permonth perperson. If I am making RM1500, and I pay RM 500 for a house loan I share with my wife. I am left with RM600 for everything else including, bills(phone, electric, water,newspaper subscription), children's food, children's education, babysitter fees, petrol, transport maintenance bill, insurance, household items (soap, shampoo, toothpaste)....

the list goes on.

How can they afford RM500 if they are making RM1500 each?

This post has been edited by TheDoer: May 12 2011, 10:29 AM

with salary RM1500, why must one buy a house? for me, rent a room 1st... work harder to increase personal income
If parents can support, then is different scenario

what if work too hard and exceed rm1,500 threshold and gomen say sorry cannot buy the rm220k house anymore?

at 1st place, RM1500 income shdn't commit 200K loan,
I feel reasonable is 150K worth of property, if not dun buy, rent

http://www.themalaysianinsider.com/malaysi...nd-high-prices/

He said, however, he sympathised with Rehda over “indirect taxation” which came in the form of developers having to build public utility infrastructure which added to the cost of residential property.

“We too have lobbied for such infrastructures to be carried by the respective public-listed utility companies because they are business ventures,” he said.


when msia govt short of $$ (due to corruptions, leaks etc), i think more and more developers need to bear the cost of infrastructures eg bridges, flyover, tunnels, new access roads, road widening (eg rawang by gamuda, guocoland etc ), drainages, lanscaping, subsidy the mrt/lrt land for schools, carpark, garden, masjid/surau etc. At the end the extra costs will pass to the new house buyers. So expect the home price go up more. it is just like the new home buyers subsidy the govt to build all the above infrastructures. (Msia boleh!)

The old home buyers will benefited the most as old days the developers do not need to build so many infrastructures (as the traffic is not busy/complicated etc) and they can now enjoyed the rocketed price rise. eg BU in 80s,90s--no brigde, tunnel, flyovers etc. Now the new house price from SHC, Berjaya, Mammoth, MK etc already include all the above facilities..(all developers need to share the costs). The more developments the more infrastructure needed to cater for the needs of resident (old and new). Unless they stop new launchs which is impossible. Expect to see more flyovers, infrastructure in Damansara (but the govt will not going to foot the bills, it is u..)

agree...
if 1.5k can borrow 200k, then 3k can borrow 400k, 6k borrow 800k!
that just means more of same risky debts spread over a much larger no. of borrowers.
if incomes are low and not to rise, there is no way for more people to own houses, mid or high cost.
this 220k home scheme can become a bubble on its own, unless gomen has a plan to bailout or write off!!

Average Taiwanees own 1st property = 41 years old
which means,
1/3 of the buyers buy 1st property at age 25-40,
1/3 of the buyers buy 1st property at age 41
1/3 of the buyers buy 1st property at age 42-50

and dun forget, >90% can afford to buy condo / service apt as 1st property for own stay only

I feel lucky in Malaysia, wat bout you?

This post has been edited by UFO-ET: May 12 2011, 12:09 PM

cannot la bro, where should our friend who bought his property at age 22 sits

I noticed a significant increase of low/medium cost flat/apartment (< RM100k) being auctioned lately. Why don't government collabrate with banks to promote these house to the poor/needy? If they are truely poor and just need a roof to live, they can't be choosy, right?

May be government can provide some incentive to those buyer, like tax break of RM10k over 3 years of tax assessment (for expense to renovate/clean up the flat). Bank can abosrb lawyear fee / stamp duty, etc as part of their corporate social resposibility and probably provide lower than market housing loan scheme.

Am I too simple minded or the above is worthwhile or possible to be implemented by the government with collabration from the banks?

ps. I am not a property expert though, just my 0.01 cents.

---

Added on May 12, 2011, 12:59 pmUnfortunately he has closed the thread, otherwise I am going to write some nasty comment too!!! Not everyone is as lucky as him (got FAMA support), moreover a lot of people that I know need to support the family right after graduate when they started to work.

Sorry, I am

This post has been edited by tanch78: May 12 2011, 12:59 PM

think you are onto something here.
but tough luck.
just take the haze for example. it occurs nearly every year. pattern is similiar and area is also identified. with all our technology advances, one would have thought that humans would have the capacity to prevent peat fire, no?
sometimes, ability to do something and the will to do the things are entirely different things.
some have the ability but no motives.
some have motive but no ability.
only people with ability and motive can move things around.
of course, they are extraordinary cases.

Yeah but the houses were meant for those with 3K household income right? It is simply not logical.

No matter how, i just want to say, BUY HOUSE EASY BUT PAY HOUSE INSTALLMENT IS SO SUFFER FOR YOUR WHOLE LIFE!!!
Must collect many bullet then only commit...or else 100% loan will kill ya man...