Saturday, December 18, 2010

Can you own a property when you're young in Malaysia?

Getting married at the age of 26 in Malaysia is nothing new nowadays. (If there was anything new, it would be marrying at the age of 14 by this girl.)

Showing your deepest love for your loved one on facebook is nothing new at all.

Buying a new car at the age of 26 is nothing new.

Buying the latest new iphone 4 is nothing new.

Even owning a business is nothing new at all. (I don't mean char koay teow business ok)

 However, two days ago, a friend showed me something that was new with her.

She bought a property, A HOUSE, A NEW CONDOMINIUM UNIT somewhere around Mont Kiara in Kuala Lumpur.

A condominium unit that has a swiming pool, jacuzzi, gym, and boasting a view that can see Genting Highlands from afar and twin towers as well in another direction.

This is not some low-cost flat or studio unit. This is the REAL THING. Bang for the buck.

After working for a mere five years, she has manged to save up enough money to purchase a property that was worth at that point in time RM300 thousand dollars which today has already somehow upscaled in price which can fetch to something closer to half a million ringgit.

Which means to say, if she sold it today, she would have earned a cool cash of 200 thousand ringgit. That's the kind of money you can only get a chance of earning as quick in Genting Highlands Malaysia or Singapore for that matter.

Her condominium unit was fully furnished with air-cond, had 3 rooms, one lovely modern designed kitchen, a wet kitchen. two toilets, and a nice wooden floor. All this came out from her deep pockets that she saved over the past 5 years.

While sitting there on her lovely couch watching an LCD TV dat also came from her deep pockets, I couldn't help but realize the joy in her face of achieving something that not anybody can just do it over night.

Not even Mr Gin can do it despite himself working for the same amount of time. Despite the numerous amount of investment, working extra time, and also try to make a living through blogging, Mr Gin is unable to even own a property anytime soon. He happens to fall into the category where property prices are relatively 10 times his normal wage. Even the banks would not even in their right mind think of giving out a loan without risking Mr Gin being the next contestant of bankrupty in Malaysia.

I have met so many people who told me of their first experiences in owning their first property, and most of them spent half their life chasing for money before doing so.

What i'm trying to say is, my friend has done a brilliant job in getting her first property at such a young age where most people can only dream of. It's a start towards a brighter future. She definitely shows that you can own a property when you're young.  So if you're 26 years old, and haven't gotten a property yet, please relook at your finances. You've not done enough!



ken said...

mont kiara condos can be as low as RM300k, pretty much affordable if one saves a lot.. but other places, it can reach up to RM600k+

must select the place where it's near to work also :/

Mr Gin said...

icic..thanks for the info!