Bro, I have more than 10 friends who went south aft studies. And most of them already owning private properties and cars by their mid-30s.

Let's face it; we have so many Malaysians who is working in Singapore compared to Singaporean who is working in Malaysia.
And those who worked there will mostly stay there rather than coming back here.
Furthermore, Singapore's expatriate community is bigger and much more affluent than KL's.

There must be a reason for all the above, right?

Correct, sir.
We will make adjustment.
We will be willing to cut down the unnecessary expenses, drive cheap cars and eat cheap meals to allocate more money for our home.

However, the question is not whether if we will prioritize owning a house, but can we afford even if we prioritize.
Let's say general Joes and Janes are earning an average of RM6k per month, but property prices (let's say) is on average RM1000 psf or RM1 mil (an exaggeration to illustrate the point). No matter how u cut and slice the budget, u still cannot make it.

If average Klang valley salary is at RM5k, then the average property prices in Klang valley should be around RM400-600k, maybe? But now I see more RM1 mil terrace houses than RM400k.

As long as the income and property prices are mismatched, we will have problems.

True. But that is a zero sum game. 2 persons buy 1 prop instead of 2 persons buy 2 props. The pool of incomes vs number of prop remain the same. Lol.

Those owning 10 props by mid 30s are outliers, bro.
If everyone owns at least a property here, we wont hear so many concerned voices abt property and house ownership in malaysia.

I dunno why some insist the measures are not working.. but Singapore has shown that IT IS WORKING.


http://www.themalaymailonline.com/money/ar...in-six-quarters

SINGAPORE, Oct 1 — Singapore home prices increased at the slowest pace in six quarters after the government introduced new loan measures to cool prices in Asia’s second-most expensive housing market.

The island-state’s private residential property price index rose 0.4 per cent to a record 216.2 points in the three months ended September 30, after it climbed 1 per cent in the second quarter, according to preliminary figures released by the Urban Redevelopment Authority today. That’s the smallest gain since the first quarter of 2012, when the index dropped 0.1 per cent.

Record home prices amid low interest rates raised concerns of a housing bubble and prompted the government to widen a campaign that started in 2009 to curb speculation in the property market. Singapore unveiled new rules in June governing how financial institutions grant property loans to individuals, in addition to previous curbs including new taxes and higher down-payments.

“The loan curbs are biting into the market,” said David Neubronner, national director at broker Jones Lang LaSalle Inc’s residential project sales in Singapore. “The days of easy borrowing are over.”

The new loan framework requires that lenders take a borrower’s debt into consideration when granting mortgages, the Monetary Authority of Singapore said June 28. Home loans should not exceed a total debt-servicing ratio of 60 per cent and those that do will be considered imprudent, it said.

Loan growth

The gain in housing and bridge loans slowed to 13.5 per cent in August compared with a year earlier, the slowest increase in almost four years, according to data compiled by Bloomberg based on information from the central bank.

Apartment prices fell 0.5 per cent in prime districts in the third quarter, more than the 0.2 per cent decline in the previous three months, the URA data showed. Those in the suburbs climbed 2.1 per cent, compared with the 3.8 per cent increase in the previous quarter, according to the data.

The measures are also affecting public housing, where 82 per cent of Singaporeans live. The resale price index for public housing fell 0.7 per cent in the third quarter, the first decline since the first quarter of 2009, according to a statement from the Housing & Development Board.

Singapore’s home sales rose in August as developers marketed more projects, rebounding from July when they slumped to the lowest since December 2009. Home sales increased 54 per cent to 742 units in August, compared with 482 in July, according to a separate data from the URA. Sales in August last year were 1,427 units.

The island-state is Asia’s most-expensive housing market after Hong Kong, according to a Knight Frank LLP and Citi Private Bank report last year.

“The measures are working,” said Nicholas Mak, an executive director at SLP International Property Consultants in Singapore. — Bloomberg