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Investment Can Millennials Still Afford a House in Malaysia?, rising property & stagnant salaries

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Cavatzu
post Feb 18 2025, 04:53 PM

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QUOTE(gks @ Feb 18 2025, 04:06 PM)
Malaysia is one of the most affordable and easiest countries where almost everyone is supported (from local councils, state and federal governments, banks, developers etc) to buy a property, especially first home.

But whether most of the properties will provide a good living quality and long term to build equity is another story together.
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The affordability has come at a cost which is the ability to grow wealth at an exponential rate like in other countries where the supply is choked.
Cavatzu
post Feb 19 2025, 03:13 PM

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QUOTE(PAChamp @ Feb 19 2025, 12:47 PM)
Bro, just look at the launch prices of new 2 storey landed at the outskirts of klang valley. already most of the above 700k! No need 10 yrs, now already happening. Elmina new launches above 1 mil already - 2 storey terrace. Can still get 1 mil for 2 storey freehold in PJ but very old, need about 200k to fix up. Landed House prices 20 years ago already fresh grads cannot afford. If salaries don't rise in tandem, soon fresh grads can only buy shoebox units provided Govt stop forcing developers to build affordable homes below 300k.
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The definition of the starter home has changed. It used to be a terrace house in our parents days then a 1k sqft condo in the 2000s and now a studio or rumahwip for gen Z. Admittedly rumahwip really levels the playing field to give some decent housing size options.
Cavatzu
post Feb 19 2025, 05:59 PM

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QUOTE(sjteh @ Feb 19 2025, 03:30 PM)
In tandem with high density >1k units
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But the point is housing options are available. Homelessness is a real major issue in developed countries for youngsters and the ageing with no assets.
Cavatzu
post Feb 21 2025, 09:01 AM

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QUOTE(autodriver @ Feb 21 2025, 08:39 AM)
For new double storey house now the medium renovation already cost about RM100k - 150k and new house no repair needed. If buying sub-sales old house in 10 years time with renovation and repair it is easily cost RM200k.

My new neighbour haven't move in yet and I bumped with him once and chit chatting. He told me the house he bought double storey (small size) next to us the repair cost alone already cost RM150k. The repair things are the roof, 2nd foor ceiling, water piping, re-wiring, front yard awning, auto gate set etc. The house is nearly 30 years old and many things need to fix. Imagine the next 10 years the cost is easily up 20-30% especially the labour cost is getting higher compare to material cost.
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This is on the low end of estimates. You want something a bit fancy like those internal courtyards nowadays then youโ€™re looking at 500k+. Redoing cabinetry + kitchen etc to a good standard also costs a lot. You luck out if you can reuse a lot of things from the original owner.

 

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