`


THERE IS NO GOD EXCEPT ALLAH
read:
MALAYSIA Tanah Tumpah Darahku

LOVE MALAYSIA!!!


 


Monday, August 24, 2015

Houses in Terengganu most ‘severely unaffordable’ in Malaysia

Others were KL and Penang with only Malacca fitting the maximum median range while Selangor came in as only moderately unaffordable.

Terengganu,-properties3
PETALING JAYA: Residential properties in Terengganu are so severely unaffordable, they have been classified as having prices 5.5 times above the median income of the people living there, findings by Khazanah Research Institute (KRI) has shown.
In an article by The Malaysian Insider, KRI said that Kuala Lumpur was a close second, with the median house price now being RM490,000 per unit, making it almost double the median house price range in all other states.
“Of the new properties launched in Kuala Lumpur in 2014, there were no properties launched below the RM250,000 to RM500,000 price bracket, with the bulk of the newly launched properties situated in the RM500,000 to RM1 million bracket.”
This made housing KL tagged as “severely unaffordable” because prices were 5.4 times higher than the median income of those living in the city.
Penang was also tagged as “severely unaffordable” while Selangor, the country’s wealthiest state, had a median house price of RM300,000, putting it at the moderately unaffordable level.
In all Malaysia, only Malacca fit the maximum median range where housing prices were three times higher than the median range.
According to the report, the maximum median range for housing prices compared to median income should not be more than three times the median income of the people in a particular location.
Calling for institutional reforms in Malaysia’s approach to housing policies, the research findings were launched today by KRI chairman Nor Mohamed Yakcop.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.