Making homeownership easierJune 26, 2020
It’s not big news that property prices are at an all-time high. In urban cities like KL, Penang and Johor Bahru, prices have skyrocketed as local economies flourish. Unless you have made some really smart investments, chances are you will face difficulties in trying to own that dream crib in Bangsar. To make things worse, the prices of homes are increasing faster than the figure on your paycheck.
Stagnant paychecks and soaring house prices are making homeownership much more difficult compared to back then. Many property developers are continuously supplying the market with premium housing options. As of now, there is a huge discrepancy in the supply-demand of premium and affordable housing options.
With foreign investors and expatriates getting their hands on local property, developers are also starting to cater to them due to the higher profit margins. You can see properties in JB and KL are completely dominated by the foreign markets.
As the property industry is slowing down, developers have to study the market in Malaysia. New launch property projects have to meet consumer demands rather than maximizing profit margins. When the people are unable to even afford their own homes, purchasing any investment property in Malaysia is definitely out of the question.
As more people are looking to big cities for more career opportunities, they bring with them a demand for quality but affordable housing. Unfortunately, the majority of young people are simply unable to afford the sky-high prices of houses in the city. Instead, they are relegated to renting. We observed that many are paying thousands of Ringgit per month in rental fees.
Why should youngsters pay so much for something that is not even theirs? We here at UDA want them to use that money to pay for something that they actually own instead.
Being in the industry for almost 50 years, UDA is one of the top property developers in Malaysia. We have been providing homes for the nation at every income level. Our developments enrich the lifestyle and meet the housing demands of Malaysians.
Throughout the years, we have rolled out plenty of initiatives to make homeownership easier for everyone. We are among the top property developers that focus on building affordable and low-cost housing options aside from high-end properties. Our initiatives have included Residensi Wilayah (previously known as Rumah Mampu Milik Wilayah Persekutuan or RUMAWIP) projects across Kuala Lumpur.
Homeownership should not be something that is out of grasp. Moving forward, UDA will continue including affordable housing options among our new launch properties across the country.
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