Luxury properties thrive as affordability sinks

Picture an average Malaysian drowning in bills and rising costs, yet a simple glance at the Kuala Lumpur skyline reveals cranes gleaming hard at work, building brand-new, dazzling condominiums with million-ringgit price tags. Malaysia has a real estate paradox and it does not get more obvious than that.

While an affordability crisis deepens for ordinary citizens, the high-end property sector continues to thrive. This contradiction raises questions about what drives such a phenomenon.