World Bank senior economist Kenneth Simler has warned that housing availability in Malaysia is at a"severely unaffordable" level and that affluent Malaysians trying to take advantage of"friendly" policies are affecting supply and affordability.
“Higher-income households with a monthly income of RM15,000 can afford to purchase higher-priced homes of up to RM1 million, but sometimes choose the Residensi Wilayah housing at RM300,000 due to its value-for-money and favourable characteristics such as central location and decent home size. The net result of such reactions by both purchasers and developers is that policies designed to help bridge the gap between supply, demand and affordability are not having the desired effect.
Source: News Formal (newsformal.com)
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