i believe of all that shared their experience are from the T20 group having mean household income of rm16088 or M40 group having mean household income of rm6502. dun think we have heard from B40 group.

The loan of a property is usually 30 years. For many of the new buyers. The question is, how many of these buyers can withstand a major recession, because there will be 1 major recession coming in the next 30 years.

If the rental cant cover the loan. Which is basically all the residential properties now. How r those who purchased 2 properties and up going to withstand the crisis.

Do they have sufficient buffer in the event the income dries up? How levered r they? We can see in the auction market now that many didnt have the buffer. There has been no financial or economic crisis.

Depends on who u r hanging out with la. But i believe most ppl here are not talking about that.

Sounds like u r showing off.

What i mean to say is. Most people dont have the safety net of say 1 or 2 years of personal expenses in the event of a major crisis in their lives. What more with the burden of 2 to 3 properties.

If u have 1 or 2 years of negative cashflow of 4 to 8k per month out of the next 30 years, ur property portfolio will be worth almost nothing. Unless u r earning 6 figures a year. Especially if this happens when the market is slow and it gets auctioned off significantly below what u paid for it. Maybe u will have some capital gains, but that will not cover the interest u paid.

U just need 1 or 2 bad years out of 30, and ur portfolio can turn to dust. Overleveraging is a real problem. I do believe that in the past these 30 year loans didnt exist.

A 1984 crisis, or a 1998 asian financial crisis, where the economy really suffered. That will be interesting to see what happens to the property market.

I think it was cimb that came up with a class of clients called mass affluent. The criteria was rm50k in savings.

Premier banking is rm200k or 300k. I think cash or liquid assets.

Last i heard private banking should be about 3 to 4mil in liquid assets. Cant rmb which bank.

If u dont have the disposable income where ur property can be untenanted for 1 year then yes. 1 property.
Edit: ur instalment period is for 30 years. However 3 months of non payment and the bank can auction ur property.

Ok la, u very rich loh. I am saying the same thing. Dun buy buy buy later got crisis cash tight then ur in trouble.
How come this forum seems like got ppl insulting me 1. Dunno cockroach got spread what false rumour about me.

i gather from this tread that there is those from late 80s and beginning of 90s bought their 1st house.

i believe this is the age most people buy their 1st house, at the age of 26 to 29 yo.

if we consider only those bought by our own, that means as we come out to work at the age of 19yo form5 school leavers, 21yo those graduated from college and 24yo, those graduated from local u. as they start to enter society, they start to save for the purchase. and for most people, they start to buy 1st house at the edge of 26 to 29yo, correct or not?

how about you? what age you bought your first.

now this an interesting question.

we say that the property market is depending on demand and supply. but demand is depending on what? i believe demand is depending on many factors but population is but one of them, not even sure if it is the biggest factor.

one of big factor that affect demand is salary. today, if we earn as much as singporean or hongkee, we would be buying maybe 3 times as much. this is much much faster than population. how long it takes for our population to be double or triple?

if we compared again, country like singapore, hong kong and Taiwan. they have small population but how many unit of houses do they have in their country? Perhaps we look into average house over population comparison.

as salary grows, the whole population of malaysia would buy more even they don't need to stay in it. as they have more disposable income, they buy more to fight against inflation.

juz imagine if suddenly malaysian salary increase 3 folds, minus their basic needs they would have the capacity to buy maybe 3 or more properties that they currently can afford, so demand would 3 times more and supply 3 times more.

if we have big population and all the people very poor, there is real demand but they can't afford so supply would be small. so if people is rich and they have confident in the country, they buy more properties and compound by foreign interest, the demand grow even larger.

already own 5 properties before 30 years old,
start buy since 25 years old,
some already flipped/sold
87 baby

Mid 80s, 2 properties.

Quality of life is depends on expectation and wisdom.

Example, I don't see drink coffee in Starbucks is having a high quality of life especially those sugar will kill you slowly.

Make coffee yourself at home, hit the gym frequently, this is called quality of life.

First purchase in 2013 still managed to flip ah?

yeah... like what i mentioned before... a office working lady... income 5k per month only... but already having 10 properties under her name over the 5 years... 8 properties have to be bought using 70% LTV only... imagine how much cash she have from her investments....

this lady i know her personally one... btw... she is a single malay lady... working in government sector.... night just like any other work-life balance worker... borak, lepak ngan kawan...

mainly all of her properties covered by rental income over the years... she have alot of disposal income for own spending considering she is single also... most of her portfolio are landed which required close to none maintenance fees... recently just bought 1 condo as investment... probably cant fully cover maintenance fees...

Dunno why i feel that u r saying my income is at a lower average compared to those same age and education lvl.

Got suspicion la. Seems like this suspicion is quite accurate. I am not a narcissistic person, not everything related to me but got too many nonsense floating around.

The reason i tie that comment to this is because i suspect that this is one of the things ppl use to shoot me.

I could be wrong.

I dont feel particularly rich.

I think most that born on 80s already started their property buying. Some with more than 1 property.
But I do have question to those after 90s, property price are like sky high. With the currently salary of fresh grad. How they going to save money in less than 5 years to be able to get their own property? Sorry it's out of topic. But just curious

Bought a second hand prop at about 600k+ at the peak of property price hike. And I spent a lot in renovating it.

Almost at the end of renovation, I realized I don’t have money to even buy an engagement ring.

I’m thinking if I could hold out for 3 quarters, I could settle everything and get married. Then it hit that I couldn’t achieve that.

Made plans and found a job in Singapore. Moved to Singapore for about 2 years and things work pretty okay so far.

I manage to get married, generously up my parents’ and wife’s allowances. I’m even thinking settle down in Singapore too if circumstances allows me to.

As for the house, it’s actually my occasional-weekend-house whenever I’m back to visit family and in-laws.

I’m not bragging. To be honest, the house is a curse and blessing at the same time. Would I do it again if I could turn back time? 10/10 - yes.

TL;DR - bought property in KL, ended up in SG. F*** my life decision.

For book keeping la boss