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Malaysians hit by shortage of affordable housing
Developers face glut of unsold pricier units as demand for cheaper homes outstrips supply
KUALA LUMPUR • Auditor Adrian Ng's frustrating three-year search for a home ended recently after he snatched one of the 870 low-cost units in a township at the southern edge of Selangor.
The RM100,000 (S$33,200) units at Simfoni Apartments are among the cheapest in the Greater Klang Valley - capital Kuala Lumpur and its surrounding districts. Average home prices there have soared, hitting RM773,000 in Kuala Lumpur and RM497,000 in Selangor by the third-quarter last year, over 100 per cent and 80 per cent higher respectively than a decade ago.
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A version of this article appeared in the print edition of The Straits Times on March 09, 2019, with the headline Malaysians hit by shortage of affordable housing. Subscribe
