From 2009 to 2023, property prices have more than doubled. According to numbers from The Edge, an average apartment now costs about RM582,000. With fresh grads earning RM3,000 per month, it will take them 8 years to save up for a downpayment for a house. And that’s before other costs. This is why the younger generation can no longer afford a home. Resources: i) Average apartment prices are now RM582,887: https://theedgemalaysia.com/node/709887 ii) Golden rules before buying a property: https://www.propertyguru.com.my/property-guides/how-to-buy-new-house-malaysia-16637 Watch this episode on YouTube: https://www.youtube.com/watch?v=apSbgFUuL7Y ---------- (01:32) Average housing price has more than doubled in the past 15 years (03:16) Wages of Malaysians have stayed constant (04:02) Golden rules before owning a property (06:29) Being able to afford a property is only part of the story (11:00) The government should introduce a vacancy tax (12:15) Housing loan interest is crazy (13:18) During the first few years of your mortgage, most of it goes to the bank (14:53) Property investment is ruining our generation’s ability to buy a home (15:47) Renting prices are through the roof (16:57) How the fluctuating OPR affects your house loan (19:05) I’ve paid a property for 5 years, and almost 90% of its value is not settled (24:31) What if I already bought a property? (26:31) What is the OPR? (31:53) I’m 50 years old. Still a good time to buy property? (36:01) Landed properties good? (41:06) Homebuyers have to beware of difficult tenants (47:18) Some good news for Malaysians (49:46) Thoughts on gold investment? ---------- DISCLAIMER: The information contained in this podcast is for informational and educational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The opinions of this podcast are solely that of the publisher.