Purchasing a new property development is an everyone dream list, imagine owning your own house and you don’t have to worry about anything. However, developers in Malaysia doesn’t see much improvement in the property market recently.

Why? Not everyone can afford to purchase property for investment in Malaysia, the affordability of housing in Kuala Lumpur has dropped significantly compared to before. The central bank of Malaysia response to citizens stating that they need more loan to spur on the house, housing is not affordable.

A website creates by the national bank shows the myth that access to financing was deterring home ownership and showing that loan approvals for the housing of Malaysia citizens are more than 70%, as per to MahSing share price.

The housing prices have been rising non-stop, although the economy doesn’t go well. The grievances of Malaysians grappling with the cost of living are getting louder and louder.

According to research in the past, the median house price in Malaysia was four times higher than the annual household income, making it unaffordable compare to other countries. With that being said, it is not always because the house is too expensive. The lack of income is why many property developers in Malaysia are unable to own their property.

Approximately 73% of unsold properties in Malaysia are priced unreasonable, according to the national bank institute. Malaysians are also tested and considered severely unaffordable when government balance it with international standards.

The transparency of the top property developer in Malaysia has to be made transparent contribute by the government. One of the false accuse include bank Negara has introduced stricter financing rules to curb speculation.

Prudent and Responsible

There is also a shortage of approximately one million units of affordable housing in Malaysia citizens as well. Most property developers and related associates forecast that the market will still be low and passive.

The lack of awareness of the home loan application process is also one of the issues among prospective Malaysian homebuyers, especially the first-time home buyers in Malaysia. Hence it has caused about 80% of rejections in a loan application. This is also because the top property projects in Malaysia is being priced three times higher than the income of the applicant.

Other reasons include weak credit score, lack of capabilities to repay back the home mortgage loan in Malaysia, bank appetite and applicants’ other financial commitment. Hence, efforts need to be invested in educating Malaysians on the criteria and steps on how to secure a home loan successfully.

Renting Versus Buying

What can be lengthened as a conclusion is that most Malaysians can choose as an alternative to own a property? Some of the significant factors that may affect you to opt for to buy a new house include the payments and build equity, the income tax deductible, savings and stability.

On the other hand, renting allows cheaper payment every month, the maintenance is held responsible by the owner, there is no down payment that requires you to pay. Moreover, those who prefer to move around can switch easily.

Buying your own property in the industrial area could cost you a lot. As it is a long-term commitment, it requires you to be responsible for things such as loan repayment. What is more worrying is that the value of the property may go down in a rare case.

What is the disadvantage of renting? The rents will be rising over time, so the cost of living will rise again. People who rent the property has no wealth creation as well.

Pattaya is a vibrant coastal city that shot to fame on the 1980s and there has been no looking back since that time. The beaches of Pattaya constantly brim with life from dawn to dusk as the sports lovers and sun worshippers take to the water. Therefore, you can have some happy moments at the beach resort of your choice.

When the dark turns in, the action shifts to the streets and revellers take on the electrifying night scene until the late hours of dawn.  The reputation of Pattaya as a shady beach town has overgrown over the years. As a result, you can now find the best place to stay in Pattaya if you need to launch there.

Pattaya now offers endless possibilities in terms of recreation and entertainment. The region has everything for all visitors including business travellers, couples or families. If you are going with the whole family, you will not fail to get the best family hotel for your needs. Here are some of the things that you need to see and do when visiting Pattaya.

Ripley’s Believe It or Not

This museum features over 300 exhibits that are arranged in 10 themed galleries. All that you see in the gallery will change the way you perceive the world. The museum is situated at the Royal Garden Plaza on the Pattaya Beach Road. You will also get a chance to taste bbq seafood buffet Pattaya when touring the region.

• The Sanctuary of Truth

The Sanctuary of truth remains to be a standing tribute of the art and craftmanship of Thai. This monument is a reflection of a fusion of art and culture, philosophy, and religion and it is exclusively built on wood. It is neither a temple nor a palace but impressive sculptures that reflect the true belief of the ‘Eastern Philosophy,’ Ancient Knowledge,’ and ‘Ancient Vision of earth.’ You will not fail to get the best resort in Pattaya close to this sanctuary of truth. 

• Pattaya Floating market

This market spreads across a surface area of 100,000 square meters. The floating market has 4 regions that are divided into various sections and each section represents and sells items from the main parts of Thailand (South, Central, Northeast, and North). In the afternoon, there is a culture show that takes place. Apart from shopping, you will get an opportunity to taste the bbq seafood buffet Pattaya. You will also get a chance to hire a boat, stroll past the charming wooden houses, or enjoy floating on the river.

• Khao Kheow Open Zoo

Kaha Kheow is more a wildlife conservation and research Centre than a Zoo in the world’s traditional sense. It has more than 8,000 animal species roaming free in a habitat whose design resembles the natural environment of the animals. You can view these animals closely from your car or in a tram of the zoo. You can enjoy your time at the best resort in Pattaya after visiting this open Zoo.

• Mini Siam

It will only take you two hours to view the wonders of the world in Mini Siam. It is an open-air museum that replicates the exact dimensions of over 100 sites like the Statue of Liberty and the Temple of Emerald Buddha. From here, you can get to the beach resort and have some fun times.

• Pattaya Accommodation

It is not hard to find an affordable 5-star hotel in Pattaya. Most of the visitors who come to Pattaya enjoy a broad range of water sports and soak up the sun. Most of the accommodation in the region is located along the beach. You will not fall short of options even if you need the best family hotel. Pattaya has everything for everyone as long as you do your homework well.