The Gen-Y population's home-buying intention has been kept in the dark, until this very pivotal moment. Dum dum dum...
To buy or not to buy
So, it seems that the trend for homebuying is on the rise, but are our local youths still keen on buying a house to call their own? Are the Gen-Y population a.k.a. millennials as eager as their predecessors when it comes to grabbing a part of the property pie?
Last month, REENA KAUR explored the likelihood of Gen-Y millennials not being able to buy properties. But what if they don’t want to? According to Forbes, millennials these days are not so hot on the house-buying scene. They're just now settling down... yet. They prefer to spend money on experiences such as vacations, sporting events, concerts and the like. Are Malaysian millennials the same?
To help satisfy our curiosity, this writer managed to ensnare several impressionable youth. Today we extract two cents from some of them - it won’t help us buy even a single doorbell but it will sure help shed light on our local Gen-Ys' property-buying intentions.
Ayee Mazlan, Uber Driver (28)
Richard Kong, R&D Exec (27)
And the verdict is...
From this short interview, it is quite apparent that our millennials are a bit unlike others outside the confines of this sunny tropical country. From a young age, they are taught that a house is a good investment. Naturally when they grow up, they still hold true to this teaching. Malaysian youths are still game to buy their own house, and think it is a fairly important priority in their lives.
With all that’s said, one possibility could emerge in the near future. As millennials enter their peak home-buying years, those who expressed reluctance to purchase a house when they were younger would definitely change their minds later. What’s more, because they represent such a huge number of the millennial population, a surge in home sales is predicted, so home sellers and/or investors, don’t say we #bojio. :)