Malaysian Propenomy is written by Dr. Daniele Gambero with the aim of looking at housing affordability across Malaysia on a per state basis as affordability in each states differ greatly.
There is currently an anomaly in the property market whereby the government and private developers have come up with a blanket definition of affordability across Malaysia. In fact, most of the homes that are being built are actually not affordable based on the average Malaysian households living with four family members. In addition, being primarily driven by private developers, who are driven by profit, this has resulted in homes that are not only unaffordable but also unliveable – less than 600 sq ft.
By looking at various data such as Population, Per Capita Average Yearly Income, Assumed Yearly Per Household Income, Assumed Monthly Per Household Income and 35 per cent of Household Monthly Income for Mortgage can the government and private developers then accurately compute the Average Affordable Values for Homes in each states. For example what is defined as affordable in Kuala Lumpur, Selangor, Kedah and Kelantan is RM600, 000, RM320,000, RM100,000 and RM150,000 respectively.
With this in mind, Malaysian Propenomy aims to solve the current problems in the property market using logic and common sense using to deliver affordable homes in each states for the betterment of Malaysians. This can only be done through having an open discussion with the government and private sector in a practical and non-political way.
About the Author
Dr. Daniele Gambero, expatriate to Malaysia from Italy since 2000, is the CEO and co-founder of strategic marketing consultancy firm REI Group of Companies. He holds an MBA from L. Bocconi University in Milan-Italy (Macro Economy), a Master in Communication from the University of Michigan Ann Arbour MI – USA and a PhD in Strategic Marketing and Mass Communication from the University of Michigan.
Dr. Daniele Gambero has provided strategic marketing consultancies, investment studies, market researches, property market reports and business valuation all around the world. Since 2007, through REI Group of Companies he has been consulting Malaysian developers on design, concept, strategic marketing and pricin…