To maximise the selling price of malaysia property, property developer strategy is to push the affordability of Malaysian to its limit, but in the same time, emphasis on quality and lifestyle to attract foreign buyer from Hong Kong, China, Singapore, South Korea, Japan etc. In their homeland, the house is so expensive which easily 2 to 5 times more expensive than Malaysia most expensive house. If Malaysia property developer can offer similar quality but lower price, they will likely to take up this bargain.
Now consider every property developer in Malaysia, Thailand, Indonesia is doing the same strategy to attract rich foreign buyer. It is hard for a single government to control price of housing (by building houses that are truely affordable to different class of income range,) if all other regional countries in neighborhood isn't doing the same. Because it is just not worth building: not profitable, letting go foreign investment to other countries, lower GDP.
So, fellow Malaysian, we are competing against the rich from countries all over the world now. Even if our salary fail to keep up, the trend and force of globalisation will keep the housing price high in foreseeable future. Unless, our salary keep up, or there is another serious crisis happen here in Asian countries, or less people is viewing house as an investment and more view house as purely a place to live, I don't think house will become affordable for most Malaysian.
No comments:
Post a Comment