Home > News > Nation
Tuesday February 18, 2014 MYT 12:00:00 AM
Tuesday February 18, 2014 MYT 10:57:37 AM
by g. surach
KUALA LUMPUR: You must have an average household income of RM14,580 a month to afford a home in the Klang Valley, according to a recent study.
The study – spearheaded by Sime Darby Property Bhd in collaboration with the Faculty of Built Environment of Universiti Malaya – takes into account the current household spending trend, price of homes and mortgage rates.
It found that certain groups of buyers interested in strategic areas can have access to houses that are priced at 56 times their household income.
The study also found that this same group can afford to spend up to 26% of their monthly household income to service a mortgage.
It identified strategic areas in the Klang Valley that are considered not only accessible but have the potential to appreciate in value. They include Nilai, Denai Alam, Bukit Jelutong and Bukit Subang.
A report of the study said that houses in selected areas in the Klang Valley remain accessible to homeowners who may be looking to invest in a second home.
The Housing-Income Index which was launched here yesterday by Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan, who said the survey results would be useful for potential house buyers.
“The Index and its key findings had been reviewed by the ministry, and we find that the information is valuable as it can help policy makers and developers work hand-in-hand to build more houses that are not only accessible. but which can appreciate in value,” he said.
Abdul Rahman hoped that other property developers and the academia can carry out similar surveys in the country.
Based on the findings, Sime Darby said that 68% ofplanned housing schemes in the Klang Valley were in the accessible range.
“We intend to utilise the results to develop innovative, high quality products that are accessible and meet market needs,” said Sime darby Property managing director Datuk Seri Abd Wahab Maskan.
The Housing-Income Index was developed to gain a better understanding of home-owner profiles, specifically household incomes and spending patterns in relation to owning a home.
The study covered 1,529 respondents, of whom 1,183 were home owners at 12 locations: Bukit Jelutong, Denai Alam, Bukit Subang, Bandar Bukit Raja, Subang Jaya, USJ, Putra Heights, Ara Damansara, Mont Kiara, Melawati, Kajang and Nilai.
Four unit limit for bulk sales by developers
Salaries not going up as fast as prices of homes
Tags / Keywords:
Property, Klang Valley Homes Sime Darby Property Index
Agreement signed to develop tech park in Seberang Prai
Premium homes in the embrace of Mother Nature
Shareholders OK OSK merger with OSK Property and PJ Development, value RM1.7bil
A green enclave to call home
Ho Hup wins legal battle over Bukit Jalil land
Four dead in midnight fire in Sabah
Penang studying freeze on all 1MDB land deals pending probe
WSJ releases alleged 1MDB money trail documents
Umno division chief urges Zeti to ‘step up and clear’ Najib of allegations
PAS willing to work with DAP over 1MDB
The 3 unexpected life events that leave us in debt
LBU signs MoU to deliver Sarawak highway project
Spieth hopes McIlroy can recover for British Open showdown
Uber says drivers intimidated in South Africa after taxi protests
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)