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Property News
- Thread starter FHBH12
- Start date
Affordability Calculator
Income - 10k
Zero other installments or personal debt
Interest 4.4% (BLR 6.8 - 2.4 standard for malaysia)
Max % to be spend on loan 35% (need to pay for car / petrol / food / etc)
Loan term 35 years (max)
Maximum monthly mortgage payment: 3,500
Maximum loan amount: 749,332
Income - 10k
Zero other installments or personal debt
Interest 4.4% (BLR 6.8 - 2.4 standard for malaysia)
Max % to be spend on loan 35% (need to pay for car / petrol / food / etc)
Loan term 35 years (max)
Maximum monthly mortgage payment: 3,500
Maximum loan amount: 749,332
For your calculation of household income RM10k, one can easily afford properties priced around RM 700k?
How many household income above 10k in malaysia??
Thats the top 10%
Curently 6k only household income (mean income coz gov play with numbers to look good). Remember they have to pay TAX and EPF.
can check this number coz last month publish is only 5900.
http://www.themalaymailonline.com/m...ncome-lies-damned-lies-and-statistics-says-mp
So if use 5900
Maximum monthly mortgage payment: 2,065
Maximum loan amount: 442,106
The rest of parameters same as above.
Thats the top 10%
Curently 6k only household income (mean income coz gov play with numbers to look good). Remember they have to pay TAX and EPF.
can check this number coz last month publish is only 5900.
http://www.themalaymailonline.com/m...ncome-lies-damned-lies-and-statistics-says-mp
So if use 5900
Maximum monthly mortgage payment: 2,065
Maximum loan amount: 442,106
The rest of parameters same as above.
Last edited:
From earlier link article
"Sim stressed that the median household income in Malaysia ― which stood at RM3,626 in the 2012 HIS ― gives a clearer idea of how much Malaysian households actually earn as it differentiates between low and high income earners. - See more at: http://www.themalaymailonline.com/malaysia/article/rm5900-average-household-income-lies-damned-lies-and-statistics-says-mp#sthash.3laFO475.dpuf"
using this
Income (PM) 3626
Loan 35 years
No other commitments
Rate 4.4% (likely go up in future)
Maximum monthly mortgage payment: 1,269
Maximum loan amount: 271,708
This is before taking into account any government hand out (like the planned 200 PM subsidy for PRIMA house). They have zero DP scheme and other civil servant scheme (not sure abt the rate for these program) that I wont consider here.
"Sim stressed that the median household income in Malaysia ― which stood at RM3,626 in the 2012 HIS ― gives a clearer idea of how much Malaysian households actually earn as it differentiates between low and high income earners. - See more at: http://www.themalaymailonline.com/malaysia/article/rm5900-average-household-income-lies-damned-lies-and-statistics-says-mp#sthash.3laFO475.dpuf"
using this
Income (PM) 3626
Loan 35 years
No other commitments
Rate 4.4% (likely go up in future)
Maximum monthly mortgage payment: 1,269
Maximum loan amount: 271,708
This is before taking into account any government hand out (like the planned 200 PM subsidy for PRIMA house). They have zero DP scheme and other civil servant scheme (not sure abt the rate for these program) that I wont consider here.
Zero other instalments or regular expenses?
Got RM6.5k to play around with mah.......haha
RM10k household income is not difficult for grads in JB, as far as I am aware of, esp those in the property industry like Ecoworld blah blah.....haha. For households working in SG & living in JB, its also not that difficult after conversion to MYR.....
Many Malaysians work overseas and buy properties back home. For those in business, it is easy to hide their real income during pre-GST days.
Well JB ppl come Sg to work, dont pay income tax in malaysia and they are not reflected in the data.
Its hard to find out how much exactly these household earn.
they can range from SGD2k per household to SGD20k (10 person work in SG but stay in 1 house) or even more. There are high fliers Malaysians in Sg but they wont be able to buy all the high end condo in JB. In the end, still need external demand to mop up all the new expensive launches. Thats why very reliant on Sg, government flip flop policy and poor governance will not help.
Main buyers for JB property must be local - same for SG (most condo buyers are local - usually abt 60++ %)
If locals cannot afford, whats gonna happen?
Its hard to find out how much exactly these household earn.
they can range from SGD2k per household to SGD20k (10 person work in SG but stay in 1 house) or even more. There are high fliers Malaysians in Sg but they wont be able to buy all the high end condo in JB. In the end, still need external demand to mop up all the new expensive launches. Thats why very reliant on Sg, government flip flop policy and poor governance will not help.
Main buyers for JB property must be local - same for SG (most condo buyers are local - usually abt 60++ %)
If locals cannot afford, whats gonna happen?
In the neighbourhood where I bought, I noticed quite a number of families have SG plated cars, but are Johoreans. A lot of them are likely to be PRs and most PRs should comfortably earn > S$3k per person if they are > 30 years old.
As for the locals, my friends (mid 30s) in the property industry seem to be doing fine (without degree), comfortably earning > RM5k per person, and working in companies such as UM Land, Ecoworld, IWH etc...
Nice circle of friends, all doing quite well. Overall the official data is what it says..... from official government stats, cant argue with that.
Err....not sure RM5k can be considered as doing well leh...... In any case, for houses in areas such as Austin, Ponderosa, Sutera Utama, it is quite clear that these are local enclaves, and none of these landed houses are below RM700K now. Mostly bought by locals as well, notably the semi-ds exceeding RM1.5m....
Property prices not yet at 'meaningful correction': DPM Tharman
By Jamie Lee [email protected]@JamieLeeBT
28 Oct 1:55 PM
PROPERTY prices in Singapore have not seen a "meaningful correction" yet, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday.
"We've seen some correction in both private property prices and HDB resale prices over the last four to five quarters, but there is some distance to go in achieving a meaningful correction after the sharp run-up in prices in recent years," said the chairman of the Monetary Authority of Singapore at the Credit Counselling Singapore's 10th anniversary luncheon.
"If we do not get a meaningful reversal after each upswing, property prices will run ahead of the growth in household incomes in the long term. And that, we must avoid."
http://www.businesstimes.com.sg/rea...-not-yet-at-meaningful-correction-dpm-tharman
By Jamie Lee [email protected]@JamieLeeBT
28 Oct 1:55 PM
PROPERTY prices in Singapore have not seen a "meaningful correction" yet, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday.
"We've seen some correction in both private property prices and HDB resale prices over the last four to five quarters, but there is some distance to go in achieving a meaningful correction after the sharp run-up in prices in recent years," said the chairman of the Monetary Authority of Singapore at the Credit Counselling Singapore's 10th anniversary luncheon.
"If we do not get a meaningful reversal after each upswing, property prices will run ahead of the growth in household incomes in the long term. And that, we must avoid."
http://www.businesstimes.com.sg/rea...-not-yet-at-meaningful-correction-dpm-tharman
Buyers of Singapore properties in 2012-2013 might be cursing now, especially HDB upgraders as they bought high but have to sell low in 2015-2016, when their private properties TOP. Unfortunately, 2015/2016 coincides with election year. Stable price is better than rising or falling price IMHO.
correction is unlikely to be drastic for OCR properties. It is not a recession triggered sell down like in 2003 where expats were leaving in droves and sing economy was under massive restructuring, combined with the double whammy of 2001 post dot com + SARS economic shocks, lots of people lost their jobs then and had to sell off their properties. The economy now is more resilient, and buyers are not forced to sell low. They can just hold.
HDB resale is softening...these upgraders to condos are caught.
That's RM 3 million for a condo. Why not buy a condo in JB for RM 700K or so? Still got money to buy a BMW 535I to zip around Nusajaya
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