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EXPERTS’ VIEWS | Greatness or a Gamble
Aside from affordability, oversupply will be a big issue
in time to come. Landed properties are not in as severe
a state as high-rise properties on commercial titles such
as serviced residences and SoHo/SoFo/SoVo projects.
No one asks if there is actually any demand for it. These
units are all built and later priced so high that not many
can afford to purchase them. How many Generation-Y
workers do you know who can afford properties above
RM400,000 How many of them make more than
RM10,000 a month Why are there so many high-end
properties It is true that in some areas you require highend
properties but it should be balanced out with homes
that most people can afford.
KL: There is a large misconception that property prices
in Klang Valley are way beyond the affordability scale,
played up by the media and various stakeholders with
vested interests. The reality is that there are many pockets
of properties, especially those in the secondary market,
which are very much within the grasp of the middleincome
segment. Once there is a willingness to live within
one’s capacities instead of reaching for new launches
equipped with the latest technologies and facilities, a
multitude of options will be revealed.
A key factor which needs to be addressed is the ease
of obtaining financing to support homeownership. The
restrictive lending environment has severely dampened the
property market and hurt genuine homebuyers. Fine-tuning
is required to ensure that steps to limit speculative elements
do not strangle the industry and shut out those who need
financial assistance.
Not many provisions were made in Budget 2015 regarding
housing policies. Experts were of the opinion that the general
shock of Budget 2014 would dissipate by the first quarter of
2015. Will that prediction see the light of day
LC: As part of its effort to address the housing affordability
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