I done a simple calculation, using assumption that a property price will appreciate 10% per year
- In reality, property appreciate more than 15% in past few years in some popular area
- In theory it should be around 7-8%, and they might be some depreciation during economy downtime
Let say I put aside all other factor, below is the estimated property price at few prime areas, in year 2015.
Look like you may need to have RM1 million, to own a double storey house in year 2015?
Can you afford to buy and pay for RM1 million house in year 2015?
Will will salary increase at the same or better pace than the property price?
Or shall we start think of other alternative way of earning money to keep up the pace?
Or should we start buying it now since still "not so high"?
Or is there any possibilities the property price will drop in next few years like UK and Australia?