HSBC study: Only one-third of millennials can afford houses


Consequently, prevailing median house prices are beyond the reach of most Malaysians. This is primarily attributable to a gross mismatch between housing supply and demand amid diverging expectations between households and developers.

KUALA LUMPUR: Only one-third of millennials (those born between 1981 and 1998) are able to afford to own homes due to escalating house prices and slower salary growth, according to HSBC’s first Beyond the Bricks study.

In a survey covering over 9,000 youths from nine countries including Malaysia, HSBC Malaysia retail banking and wealth management head Lim Eng Seong said many millennials did not have proper financial planning for a home purchase, with only 16% having set a budget.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Curb appeal can enhance a home’s value
Beware of rental scams!
Divorce 101: How property is divided
Cautious tone expected for ringgit versus US dollar trading next week
U Mobile to reduce foreign majority shareholdings to 20%
MACC investigating Khazanah, PNB's unsuccessful investment
Another data centre job for Gamuda
SOBA judges, past winners share winning tips
Government and venture capital
Low volatility a remedy for the extremes?

Others Also Read