Friday, December 9, 2022

More M’sians are choosing to stay with their parents as affordability of property remains a question

NewsMore M'sians are choosing to stay with their parents as affordability of...

More and more people are choosing to stay with their parents, whether single or married. A survey found that the affordability of property is the main issue why youths are choosing this option.

Hassan Basri shared that he had been staying in a flat in Cheras, Kuala Lumpur, with his parents and an aunt since he finished school in 2005.

The small unit has only two bedrooms and one bathroom, and he had to sleep in the living area as the two bedrooms are occupied by his parents and his aunt, who has chronic diabetes. 

The 34-year-old said he would like to move out and find a place of his own but his financial situation is now allowing him to do so. 

Source: Malay Mail

“I’m always on the lookout for even just a room to rent,” Hassan said, adding that he can never find anything that he can afford.

Hassan is earning less than RM2,000 a month as a factory bus driver.

“No one believes me when I say that at this age, I’m still living with my parents,” he said. 

“That’s why I have remained single until today – I just don’t have enough money to support a family.”

Meanwhile, a housewife who only wanted to be known as Ika, said she had chosen to stay with her parents at their house despite having a family and children of her own. 

She said she had never left home since she was a child, and had grown up accustomed to living under the care and supervision of her parents. 

However, she acknowledged the stigma of still living with her parents. 

“People ask why I don’t want to be independent, and so on. But my husband is the only one earning a salary. We can’t afford to buy a house right now,” Ika said.

“We need more time to save up and put our finances in order before we can think about that.” 

Earlier, we reported that a survey found that 51% of Malaysians were unable to afford a home without the government’s assistance. The situation was made worse when Bank Negara Malaysia (BNM) announced a hike in the overnight policy rate (OPR), raising the bar for prospective home buyers.

Meanwhile, stories like Hassan and Ika are becoming increasingly common among the urban poor who cannot afford to own homes in major cities, especially in the Klang Valley. 

Affordability and financial constraints remained the main factors at play.

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