Buy house first, youngsters told
Posted: 6:27 pm, September 2, 2013 by editor
PEMBUKAAN MAPEX 2012
PETALING JAYA, Sept 2: These days, it has become a trend among the young who enter working life to place priority on owning a car, instead of a home.

Perhaps, buying a vehicle which gels with their current lifestyle is cheaper for them, as compared to purchasing a house.

Nevertheless, Real Estate and Housing Developers’ Association’s (Rehda) immediate past president Datuk Ng Seing Liong said the trend should be reversed.

“Buying a property, such as an affordable house, should be the main priority among youngsters and they should not wear out their salary in owning a car,” he told Bernama when met at the Wisma Rehda here today.

Thus, he suggested that youngsters begin buying property, early in their careers, especially for those located in hot-spot areas.

“I understand that car is a necessity to the younger generation, but bear in mind that property prices will always goes up. Take this as an investment and in the meantime, commute via public transportation,” advised Ng.

He said there were affordable houses outside areas which were in high demand.

“Higher prices are only in the hot spot areas, but it seems to reflect the whole market. If they look at the bigger areas, such as in Malacca, Pahang and Kelantan, the prices are still affordable.”

He also explained the property value rise could be attributed to “people are not just buying a house, but they are purchasing the lifestyle that comes with the property”.

According to the Rehda’s Property Industry Survey for the first half of this year, the top five ‘hot spots’ in the Klang Valley are Puchong, Cheras, Kota Damansara, Kuala Lumpur City Centre and Shah Alam, with landed properties ranking at the top, followed by condominium and serviced apartment.

Meanwhile, Rehda deputy secretary-general Datuk Anthony Cho Tian Han said low-cost houses were losing appeal, as the latest trend showed people were willing to fork out money to buy comfortable houses, with spacious living room and extra bedrooms.

He said Rehda was willing to meet the relevant authorities to find a solution which would eventually benefit the consumers. - Bernama