Buying a house is extremely painful financial burden today. It was okay last 5 years but then I didn’t have much saving to keep one then. All I have to do was to sell my house at RM290, 000; the price I thought was overwhelmingly high. I did make some profit and the buyer who bought my house made much more.
Now a similar house like mine is selling at RM590, 000. It was a two-storey house, three bedrooms with two baths. Nothing spectacular about it, all brick, and mortar as it were built.
Then, it wasn’t much people in the whole area of the metropolis. Driving from Kuala Lumpur to my place didn’t take a lot of time as fewer people were on the road. I realize how fast our population has grown. It took three hours to come home now, it wasn’t that long before. I remember it took me only half an hour to be in my former house.
There isn’t any good correlation between driving time and house price. Nevertheless, the number of people does. With more than 7 million people living in the metropolis who can stop house price, escalates. Seven million people with hundred modern banks, Islamic or Conventional, fighting to survive and earn money among them. I’m not surprised house price goes skyrocketing.