Posted by Micheal Teo > 2013-07-15 00:32 | Report Abuse

My sympathy to all new graduates who just just started working. If u r working in ur own hometown be frugal n try to save as much as possible. Many fresh graduates r living a lavished life clubbing n hang out at Starbucks, Coffee Bean etc...too often. Moreover many r over purchasing unproductive items on credit.

Posted by ipomember > 2013-07-15 01:19 | Report Abuse

10 years ago the salary is more or less the same as now, can u imagine?

Posted by ipomember > 2013-07-15 01:19 | Report Abuse

i mean for fresh grad

Posted by paoblocrk > 2013-07-15 09:00 | Report Abuse

I agree, I work in KL city centre. I still struggle to afford a RM2,500 repayment per month for a normal condo in KL with just RM400k loan. Mind you, to buy a 400k house in KL is almost impossible unless you are willing to stay in a slump area. Not to mention other expenses like car,food (even cooking by myself is expensive) and etc. Sad for us as Malaysian purchasing power is relatively low compare to other countries. If I work in Australia, I can easily afford an apartment in the city ($250k), buy Yaris ($13k), and still be able to live on my own by cooking myself (way way cheaper) plus a work life balance of 8.00-5.30pm. The pay will be slightly higher also. In Malaysia it is like apartment (RM 500k)and Car (RM 40k), and a terrible working hour of 8.00am - 10pm.

Posted by iafx > 2013-07-15 09:02 | Report Abuse

for fresh grad, there is no need to rush buying property. save enough first.

Posted by jtpc2006 > 2013-07-15 09:09 | Report Abuse

property prices keep on rising. My relative had earlier wanted to sell a double storey intermediate (Taiping) for around 200K+, now he probably can get a buyer, the problem is, once he sells and looks around for a new property, there is no way he can buy another similar double storey house for 200K+, unless he is willing to pay 300K+. So he has decided to hold on to his current house.

Posted by paoblocrk > 2013-07-15 09:11 | Report Abuse

It's not about rush, it is about the need to buy a property.If one would have not waited and bought a property 2009 price, he is far more affordable than he can buy a property now.... iafx.... saving will only allow inflation to eat up all the value of your savings...

Posted by fairjimmy > 2013-07-15 11:00 | Report Abuse

The sad story is this. If you have not already owned/bought a house/condo/apartment before 2000 it is very highly unlikely or improbable for you to buy any reasonable house/condo/apartment meeting your budget/income in a reasonable location any time soon. And that is a fact. There is no way a young couple with a gross household income of say RM 5000/month can afford to buy and pay mortgage repayments for a house/condo of RM 500,000 in a reasonable location. The Govt needs to do a lot more to bring down house prices or you just have to wait for the next property/financial meltdown

Posted by paoblocrk > 2013-07-15 11:02 | Report Abuse

yea waited for 3 years, it still doesn't melt down, and even after election, the economy goes even stronger... lolx ... how I wish I can see the future

Posted by ipomember > 2013-07-15 11:02 | Report Abuse

how much can a fresh grad save i know it best..after u save the property price for next year outgrow your saving for sure. not to say buy car or what.

Posted by paoblocrk > 2013-07-15 11:04 | Report Abuse

ya I think that's what happen to me ipomember.... inflation just eat up all my savings

Posted by ipomember > 2013-07-15 11:05 | Report Abuse

one more things, dont speculate on financial meltdown, you might even lost your job not to mention about buying property. haha

Posted by paoblocrk > 2013-07-15 11:10 | Report Abuse

ya true for private sectors, but not in government position I guess as it has more resilient to economy recession

Posted by ipomember > 2013-07-15 11:12 | Report Abuse

paoblocrk mind to disclose which area of property you bought in?

Posted by fairjimmy > 2013-07-15 11:20 | Report Abuse

Just for comparison to show how impossible it is to buy and own a house for fresh graduates/young couple. 30 years ago as a fresh graduate, my wife and I with a gross income of RM 3000/month bought a in Taman Tun Dr Ismail, KL for RM 150k. The same house today has a market value of around RM 1 million. There is no way any young couple TODAY earning say RM 5000 gross per month can afford the same house which I bought 30 years ago. For any couple to be able to do that they must be earning at least RM 10,000/month. It simply goes to show that salary has not kept pace with inflation and house prices. In short, it is very difficult for the young generation to survive unless you have rich parents to pay for you. Otherwise, its tough

Posted by leviathan > 2013-07-15 11:46 | Report Abuse

how come you guys never though of playing kutu for your property down payment ? my ah ma & ah gong teaches me to play kutu when I was in secondary school. After graduated & a year plus joining working force.... wallop my first property liao using kutu money as down payment, (55 kutu kakis - RM500 each month = 25k++ down-payment) immediately for for first property back then....make use of other people $$$ first, pay them back monthly.

kutu money -there is no record shown at financial institution - BNM wont' be able to trace it, hence it won't occupy your margin of financing %...but be-careful lor, kutu is illegal, only play with trusted group of friends. Luckily my ah ma & ah gong got a lot good kutu kakis - so far no chao lou kutu head case. If your kutu head chao lou, then cry also no tear if haven't reach your turn to use the money.