Malaysian homes cost more than Singapore and US, based on incomes, says Khazanah research
Menurut Khazanah Research Institute (KRiS), Malaysian houses cost 5.5 times more than the annual median income, making them more expensive than even Singapore and the US.
According to KRiS’s findings in its book titled “The State of Households”, many Malaysian households also have limited savings making them resort to loans and credit schemes which charge high interest rates to pay off their debts.
“By global standards, our housing is expensive at 5.5 times the annual median income when it ought to be three times,” KRiS managing director Datuk Charon Mokhzani told reporters at the official book launch.
In comparison, Singapore’s housing prices cost 5.1 per cent of annual median income, while houses in US cost 3.5 per cent of the annual median income.
Research by KRiS also found that Malaysians generally have limited savings which cuts across all ethnicities.
