Housing & Commercial Developments Projects Everywhere _______________________________________________ I live in Bangi. Everywhere I go every green patch of land seems to be boarded up and turned into yet more housing estates and commercial developments. Seremban 2, IOI mall, Southville, Bangi GAteway, Nilai, Enstek, Siera Mas .......... Rows of Fabolous gated houses 1 Million plus for sale which even I with the wage of a professor would struggle to buy (Thank God I live in a kampung house in a kampung). How can a newly married newly employed average Malaysian couple afford to own such property I wonder? Yet this reckless building of yet more houses and commercial buildings goes unchecked without pause. Hello You housing developers. Who are you building these houses for? I cant afford to buy even the gates you build around the houses. Is there any authorities out there interested just in case we experience the American Housing Bubble Burst in 2012 that led to the infamous sub-prime morgate crisis? A 2014 Property Industry Survey conducted in the first half of this year by the Real Estate and Housing Developers’ Association Malaysia makes for depressing reading. Less than half of the 10,189 units launched in the first half this year were sold 90 percent of developers in Malaysia experienced a slowdown in property sales More than half of local buyers had problems getting financing for property purchases I am no prophet of Doom but neither am I a naive cow led by my nose just because I see property development everywhere therefore everything must be hunky dory. Our countrys finances ( due to world events) are on the downward slope and we are told to operate prudently. Surely the housing industry must take note of the warning signs or risk being sunk. Well perhaps that might not be a bad idea....
Posted on: Thu, 22 Jan 2015 06:42:57 +0000
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