You do not need to hire McKinsey consultants to advise Najib that RM3000 monthly income can only afford for RM100,000 flat unless your father is a minister who can fork out RM300,000 for your RM400,000 apartment.
The starting salary for fresh engineer is stagnant since 90s, but the house price rises up by three- or four-fold in the same period.
Property prices in Malaysia with GDP 7,500 per capita is ridiculous high, 90% people born after 80s cannot afford to own a house with their income.
Najib denies first home scheme is a failure
By Shazwan Mustafa Kamal
March 22, 2012
PETALING JAYA, March 22 — Datuk Seri Najib Razak today defended the viability of his administration’s My First Home scheme, saying that it had garnered a 36.6 per cent success rate so far.
The prime minister was responding to a question posed by a listener during an interview with Chinese-language radio station 988FM.
He denied reports that the scheme was a failure, saying that the success factor has been “significantly good.”
“Report is off the mark, according to Bank Negara success rate is at 36.6 per cent. Hundreds of applications are still under application by various commercial banks,” he said.
Continue reading >> What house you can buy with RM3000 monthly income ?
Both BN and PR governments are talking cock for past three and a half years, they are all too busy in bickering and gutter politics. There is not a single concrete plan from both BN and PR governments on how to help average Malaysians own a comfortable house.
Subsidize first house with the taxpayers’ money is not an option as what 1Malaysia house project in Putrajaya.
The right approach is our governments take the responsibility to build public housing under a world-class public body like HDB in Singapore.
Outsourcing the good governance duty to private companies will never work up, private housing developers only concern is profit maximization, the welfare of rakyat is never in their minds.
Why they care for your welfare if they do not need your vote in the election?
Get the right management team to run the public company unlike the present GLCs operated by UMNO monkeys. Proper maintenance of flats is a MUST do thing if Malaysian governments want to see more people choosing high-rise building than landed property.
With the profit rationalization to 10-15% and using modular housing technique, the price for low and medium cost housing can be reduced by 50% easily.
Singapore prepared to build 100,000 flats to meet demand
Singapore has the resources to build “more than 100,000″ public residential flats in the next five years to meet demand and stabilise prices, the country’s top housing official said Wednesday.
The remarks by National Development minister Khaw Boon Wan came amid complaints from citizens about runaway housing prices, a major issue in parliamentary and presidential elections this year that saw the ruling party lose significant popular support.
Continue reading >> Why Malaysia government cannot build public housing?
Seems another property bubble in the making in Malaysia as before 1997′s Asian financial crisis. The history repeats by itself.
At least 14 new shopping malls are opening soon in Penang Island.