I graduated sometime in 2010 and thereafter, alone, I traveled from South Peninsular Msia and started work in KL. As a fresh graduate, I am glad I had no commitment back then. Being a middle class (I am using the term loosely), not relying on any form of financial support from the family, I struggle to save money. Some 2 years later, when I finally have at least some enough saving to purchase my first property, my first commitment to me life, I noticed I am just a helpless (single) middle class, and find myself probably in the lowest tier of the category (though I am happy for my peers who have their bf/gf to share the installment with them and live comfortably in a condo albeit not landed prop).
My experiences with real estate agents are nasty to the utmost. The first thing they ask before you even want to view the property is: how much do you earn? Are you able to take a loan? You need to prepare at least 100k cash because the bank valuation is lower than the selling price? Do you have that money? And finally, yes, they tell you upfront what they do is:- they purchase properties from sellers, keep it for their own and sell it to you whenever they feel like it, or you beg for it (p/s and the price is not negotiable).
Yes, there are many articles, analysis of 'expert' where they said the youngster now find it difficult to purchase a property because
i) there are cheap properties (like flat of about 180k-250k) around but they are choosy
ii) there are many options out skirt of town not preferred by the youngsters. They are not willing to travel.
iii) youngsters now want "cheap and good" properties
iv) they want to live in a good environment
I find this extremely offensive. This means we have to accept this situation :- where one could not afford a 400k-500k 1,000sq ft condo in KL (sub sale), you shouldn't be complaining because
i) malaysia property market is still 'slow' and 'low'
ii) just stay in nilai, semenyih, or even seremban to travel to KL everyday, whats the big deal (regardless of the toll?)
iii) you can still afford a flat or an apartment where the residents are at least 40% foreign labour (forget about new launching because is 500k and above) i.e. your monthly installment is at least RM2,500
This sound like we are being pushed to low class i.e. stay in flat, or far far away (to avoid jam and toll, dont drive, ride a motor or take ktm or maybe the bus with the foreign labour), or continue renting from the elite class (investors, people strong financial background, holding many properties) and help them with their installment
There are many speculations around,is it the real estate agents? Is it the foreign investors?
Whatever the cause is, so be it, just that what is left for the middle class (soon will be pushed to a lower hierarchy), particularly those in KL (with no financial background)?
Really is there anything that could be done to assist? (apart from the projects which I need some luck with it)
What is left for the middle class?