Middle Class Income In Malaysia

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Middle Class Income In Malaysia, according to the statistics department, the median income of the middle 40% of Malaysian households is RM4,372 a month. This can be considered the middle income group or Malaysia’s middle class (Ivanpal,2014). Although there has been a steady but painfully small incremental rise in household income in Malaysia, economists and academics say the term “middle class” does not have the same meaning it had more than 10 years ago (Melissa,2014). With salaries unable to match inflation, being middle class no longer means as comfortable a living as compared to 20 years ago (Melissa,2014). To these group of peoples, an affordable housing issues become greater problem nowadays for them. This is because the housing issues…show more content…
Firstly is, the unaffordability for these peoples to owned their own property which is house. This is due to the problem that they cannot afford to pay the downpayment of the house which is too high compare to their salary per month. As we know, their salary is quite not enough to cover all their living expenses which is tend to keep going up every single years. For these peoples, it is hard for them saving more of their money as they considered their other cost burdened such as difficulty paying for other expenses such as food, clothing, transportation, childcare, and also medical care. With all this kind of problem, the hope to purchase the house for their family somehow cannot be fullfill by…show more content…
Basically, this deposit is to be paid upon signing the sale and purchase agreement. Thus, if the selling price of the house is high, then the 10 percent deposit needs to be paid is also high and is a burden to the buyers. For example, if the price of house is RM300,000 then they must pay atleast RM30,000 to the owner of the house. The amount is no doubt to be so much high and expensive and they are not necessarily able to pay at once the amount specified by the owner of the house. In this kind of scenario, it is imposibble and difficult for the middle income peoples to be able to purchase their desire house or even atleast to buy their own house for themselves and for their

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