The population within Greater Kuala Lumpur (GKL) is estimated 7.25 million in 2017. The target by the government was for the population to reach 10 million by 2020. Perhaps this is a little too high a target because we will need to grow by 900,000 people every year from 2018 – 2020 period. However, it is safe to assume that at minimum, the population growth will be equivalent to 500,000 every year due to the continuous urbanisation which is happening. One top choice school leavers have in their mind for jobs would definitely be within GKL. There are over 350,000 tertiary qualified candidates entering the workforce every year. If we assume a ratio of 4 people to 1 home, we will need a minimum of 125,000 new properties just for GKL alone. Then, why do we have so many unsold homes in Malaysia? (Earlier article here) Join me as I share on the topic of”When will property prices be affordable again?” in iProperty.com.my’s Home & Property Fair in Aeon Mall Bukit Tinggi. My session is 3:30pm. See you. Register here yeah Click). Details as per below image.
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