Introduction
Hello, dear viewers. It's September 2, 2025. Welcome back to "Leek Life". Before we start the show, please remember to subscribe to our channel. I'd like to apologize in advance as this episode is about money, which can be a sensitive topic. It will also touch on the real estate "鄙视链" and discrimination. If it offends anyone, I'm truly sorry.
The Current State of the Real Estate Market
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Last month, the focus was on the Urban Renewal Law. Yesterday, news broke that Malaysia had a significant number of unsold properties this year. In the first three months alone, 100,000 units of real estate couldn't be sold, clearly indicating a severe oversupply in the housing market.
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There were plans to renovate 200 units into 600, but some认为 it was too little. They believed that 100 units should be renovated into 1,000 for developers to break even. However, developers can't afford to take such risks as many have gone bankrupt from building high-rise buildings. So, the situation is far from simple.
The Potential Real Estate Crisis
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Malaysia is on the verge of a potential real estate "爆雷". Previously, the common belief was to buy more houses for rent. But now, many units remain unrented for a year and a half. Even if the price is reduced for units in less favorable locations, they still can't be rented out.
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For those who bought properties for speculation, they also can't sell them within a year and a half. In the same楼盘, there are dozens of units for sale, and when it comes to renting, there are hundreds of units available.
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Many people who invested in real estate took out loans. With no rent and no sales, the problem is becoming more and more serious. The minister should pay more attention to these issues as those who have already bought properties are now in a dilemma.
Affordability and Market Trends
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The news reported that affordable housing from 200,000 to over 300,000 Malaysian Ringgit can't be sold. This is because the price is in the middle range, and potential customers don't have high enough incomes. The situation is even worse for properties priced between 300,000 and 500,000 Ringgit.
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People's monthly incomes are still at the 1990s level. Back then, 200,000 Ringgit could buy a large landed property, but now, it may not even be enough for affordable housing. Apartments cost over 400,000 Ringgit, and landed properties are over 800,000 Ringgit. With no salary increase, it's difficult to get a mortgage.
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Those who can afford to take out loans have already bought properties, while those who can't still can't. This is the crux of the problem.
Reasons for the Difficulty in Renovation
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There are many comments, and it's easy to tell that some are not property owners. In old and dilapidated buildings, there are still many residents because some are reluctant to pay the management fee, and some simply can't afford it. With management fees for apartments now reaching three or four hundred Ringgit per month, it's a burden for those with low incomes.
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Properties where owners are willing to pay the management fee are well-maintained, with funds for painting and new elevators. The reason they become old and dilapidated is the lack of management fee payment.
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New owners are also hesitant to buy because they know the previous owners didn't pay the management fee. Buying a house now costs hundreds of thousands of Ringgit, and buyers have the right to ask about the residents.
The Role of Foreign Buyers and Future Outlook
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Malaysia's GDP is currently being driven by the construction sector. With houses not selling, the future is uncertain. Singaporean bloggers have been interviewing Singaporeans who bought houses in Johor, and there are quite a few. Chinese bloggers have also introduced many Chinese who bought houses in Malaysia.
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However, relying on foreign buyers may face interference from ethnic and religious extremism, which could further affect sales. Locally, those who can afford to buy have already bought, and those who can't still can't.
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Malaysia's policy is "居者有其屋", and the living environment is relatively good compared to some other Southeast Asian countries like Indonesia. But in the future, more and more people may not be able to afford houses.
The Impact on Developers and Solutions
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The data on unsold properties released in May and June showed a total value of 1.39 billion Ringgit that developers can't recover. In many areas with few residents, it's a concerning situation.
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Z - generation people like to buy high-rise residences, but landed properties cost at least 800,000 Ringgit. High-rise properties are also getting more expensive. Even with zero down payment and cashback, there is still a problem of滞销.
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Developers have a lot of funds tied up in unsold houses, making it difficult for them to carry out renovation. Consumers are also cautious about buying. Given the high prices of houses (over 500,000 Ringgit), buyers have the right to make demands.
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The minister should seriously address these issues. With people's low incomes and high housing prices, the real estate market is on the brink of a crisis.
Conclusion
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