Monday, August 02, 2010

Kuala Lumpur Properties Skyrocketing!

The sudden boom of Kuala Lumpur properties is rather alarming. Although as homeowner you will be glad that the value has gone up, but as long as you live there, there is not much of a difference since you do need a place to stay and thus you do no make anything out of it. But if you are looking for somewhere to stay, the booming skyrocketing prices sure makes it very difficult for any first time home owner. Given the lousy starting pay offer by most company to graduates who has no working experience, good location area is beyond the reach of many urbanites.

And what of the rest of us who are looking to make some retirement income from property rental? Yep, it also a burden to us who are looking for someway to make our little nest egg to feed us in our retirement period. Given the poor bank interest rate which is almost negligible, and not even covering the basic official CPI let alone the true CPI which is much higher than the government given CPI, we need to find a way to hedge and protect our savings! Putting money in the bank although safe is not good strategy. Yet plonking money in bad investment choice is just as risky.

And now I have a tenant who seems to be such a bad paymaster I'm wondering how to ask him to leave and get another tenant who has better cash flow. With so many properties booming away it is a wonder whether there is an oversupply situation or whether the people have no more faith in keeping money in banks and looking for the alternate way of hedging their hard earned savings. Not withstanding the poor governance of our current ruling coalition party has also squandered our wealth away making our currency purchasing power to become smaller, thus hedging it on property asset seems to be the logical way to go about it.

Alas, the skyrocketing prices of Kuala Lumpur properties does make it all the more harder to invest wisely...

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