Least affordable public housing in the world?

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Why is our public housing price to income ratio so high?

I refer to the article “Najib’s housing pledge from previous polls still unfulfilled” (Straits Times, Oct 25).

It states that “Malaysia’s central bank was the bearer of bad news in July, when it said home ownership is still seriously unaffordable, with median prices at 4.4 times annual median income, the same as back in 2014. It is a level considered “seriously unaffordable” by American housing consultancy Demographia, which found the United States (3.9) and Japan (4.1) to be more affordable while Singapore was at 4.8 in 2015.”

Does this mean that our public housing is one of the most expensive and least affordable, in the world?

Whenever there is a HDB Build-to-order (BTO) flats’ launch – the media would report the prices before and after the housing grants.

However, I believe¬† the most obvious question may never¬† have been asked or answered – what is the percentage of buyers who actually received the maximum housing grants “advertised”?

We need s breakdown of this percentage for 2, 3, 4 and 5-room BTO, as well as HDB resale flats.

Leong Sze Hian

About the Author

Leong
Leong Sze Hian has served as president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), invited to speak more than 200 times in over 30 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of Indonesia and Brunei. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.