3 Components For Easier Reference
Do affordable houses still exist in Malaysia? What are affordable houses anyways? According to Khazanah Research Institute and Bank Negara Malaysia, the median price for the housing market is three times the gross annual household income, which means that the monthly payment for the house should not be more than 30% of the income or else it would be considered as an overburden for the consumer. Bank Negara suggests that an affordable home in Malaysia, based on the monthly median income of RM4,585 and the annual median income of RM55,020, is between RM165,000 and RM242,000. But with this fact, does it mean one has to wait till he or she reaches the targeted income just to get a home for themselves?
Let us share with you some components in getting yourself an affordable home.