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The Affluent New Middle Class

Posted by admin on April 13, 2017
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AS we become a more affluent society, sophistication, better exposure and education become primary motivators of how we think and behave.

This changing attitude permeates everything we do and influences how we think. It is not uncommon nowadays to find more and more middle class families turning towards private schooling and even international schools for their children. People don’t think too much of spending money on the finer things in life. A RM20 cup of coffee is nothing to be surprised at.

This changing trend has also affected the way we invest in properties. The generation before us were ecstatic if they could just afford to buy a property, any property. A simple single or double-storey terraced house was an achievement. If you somehow were successful enough to buy a semi detached or detached house, you were considered by your peers to be super successful.

This trend of 40 years ago has gradually changed. With different thinking and mind sets come different wants and needs. A plain, simple house is no longer attractive. Location is no longer the prime motivator when buying a property. Look and feel, amenities and branding become equally important, if not more so.

What this has done to the market is that it has forced developers to embrace these changes and incorporate these wants and needs into their development. It is no longer enough to just build homes to sell to the market. A whole lot of other things have to come into play before a project will sell successfully.

 

Read more at http://www.nst.com.my/news/2017/04/227704/affluent-new-middle-class

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