Making home ownership a reality

Choices aplenty: Nur Syakirah Zainuddin, 24, (centre) and her friend Nur Hazelien Shahira Zubir, 24, listening to an official as he explains the type of houses offered at the Ekspo Jualan Perumahan organised by Perbadanan PR1MA Malaysia at the Putra World Trade Centre recently. — Bernama

A PERSON’S castle is his or her home but increasingly, in many parts of the world, having one’s own home has become out of reach, particularly for the millenial generation.

In cities like London, where, according to think tank Resolution Foundation, half of all British millennials would rent homes into their 40s and a third into their retirement, and Hong Kong, which had been named the least affordable real estate market in the world for an eighth year by property consultancy Demographia, homes are being priced out of reach.