53 Properties In KL And Selangor You Can Buy With A Salary Of RM3,000

PropertyGuru Editorial Team
Buying a house is an important goal many strive towards. But as the standard of living increases, so do housing prices. Many Malaysians are left wondering if they’ll ever be able to afford a property of their own.
This is especially worrying in urban areas like Kuala Lumpur (KL) and Selangor, where the starting salary sits around RM2,000 to RM3,000, despite the steep price tags of properties in the area.
One can’t help but wonder: “Where am I going to find a property that fits my budget?”

Median Salary And House Prices In Malaysia For 2020

According to the 2020 Salaries & Wages Survey Report by the Department of Statistics Malaysia (DOSM), the median salary of Malaysians in KL and Selangor sit at just RM3,037 and RM2,725 respectively.
In contrast, the 2020 median price for terraced houses in KL was RM756,500, and RM538,000 for high-rise homes, according to the National Property Information Centre (NAPIC).
In Selangor, the median price for terraced houses and high-rise homes were RM521,550 and RM300,000 respectively.
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Median Salary And House Prices In Malaysia For 2020

RM3,037
RM756,500
RM538,000
RM2,725
RM521,550
RM300,000
RM2,082
RM470,000
RM446,500
RM2,124
RM380,000
RM322,500
RM1,474
RM230,000
RM218,000
RM1,343
RM220,000
RM180,000
RM3,717
RM380,000
RM230,000
RM2,120
RM208,000
RM190,000
RM2,062
RM249,000
RM110,000
RM1,753
RM240,000
RM310,000
RM1,629
RM268,000
RM330,000
RM1,571
RM210,000
RM2,130
RM752,500
RM400,000
RM1,716
RM350,000
RM290,000
RM1,593
RM330,000
RM417,000
RM1,911
RM240,000
RM332,500
Source: DOSM and NAPIC

How Much Home Loan Can I Get With A Monthly Salary Of RM3000 In Malaysia?

Suppose you want to buy a house in KL or Selangor (major hotspots, we know!), but your monthly salary is only around RM3,000.
What options do you have, and how much loan can you borrow from the bank? To find out the answers to these questions, we first assume:
  • Your gross monthly income is RM3,000
  • Your monthly living expenses are 30% of your net income
  • You don’t have any financial burdens such as car loans, rent, or credit card debts
  • You plan to use 70% of your net income for the repayment
  • You want to borrow 90% from the bank, and you can afford the 10% down payment
  • The interest on the mortgage you applied for is 3.5% and the repayment period is 35 years
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We’ll use the following formula to calculate it for you:
RM3,000 (gross income) – 20% (EPF, SOCSO and PCB) = RM2,400 (net income)
RM2,400 (net income) – 30% (living expenses) = RM1,680 (property budget)
After deducting 20% for EPF, SOCSO and PCB from your gross monthly income of M3,000, you’re left with a net income of RM2,400.
Say you need 30% of your net income for living expenses, that will leave you with 70%, or RM1,680 for your new home. So, how much loan can RM1,680 get you?
According to PropertyGuru’s Home Loan Calculator, a RM400,000 total loan amount with 3.5% interest rate and repayment period of 35 years will put your monthly repayments at RM1,653.
So there you have it: With your budget of RM1,680 for the property, a home loan worth RM400,000 is just what you can afford!
Assuming that the down payment is 10% (RM40,000), that would mean you can afford a property priced around RM440,000 with your RM3,000 salary.
What kind of property can be bought in KL and Selangor with a budget of just RM440,000? Let’s use the property search function on our website to find something suitable at this price.

What Properties Can I Buy In Kuala Lumpur With A Monthly Salary Of RM3,000?

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According to the PropertyGuru website as of 9th April 2022, RM440,000 allows a buyer to purchase these 15 high-rise projects below.
Many of these are new projects, situated in prime hotspots such as Sentul and Bangsar South close to KLCC. Others are situated in mature areas like Cheras, Setapak, and Kepong.
Owing to the fact that there are all these new properties, buyers can also enjoy additional benefits from the developers, which potentially includes free stamp duty, free SPA legal fees and cash rebates.
It’s worth noting that the high-rise projects in KL below are all within 1,000 sq ft, which may make them more suitable for singles, couples, and small families.
If you’ve just started working and are looking for a place to call your own, these projects might be right up your alley!

15 high-rise projects under RM440,000* in Kuala Lumpur

Project Name
Area
Rooms
Built-up
Tenure
Price
Cheras
2
662 sq ft
Leasehold
RM243,000
Kuchai Lama
2
658 sq ft
Leasehold
RM300,000
Setapak
3
810 sq ft
Leasehold
RM300,000
Setapak
3
800 sq ft
Leasehold
RM300,000
Salak South
3
800 sq ft
Leasehold
RM300,000
Setapak
3
800 sq ft
Leasehold
RM300,000
Sentul
2
689 sq ft
Freehold
RM329,800
Bangsar South
1
495 sq ft
Leasehold
RM350,000
Kepong
2
548 sq ft
Leasehold
RM370,000
Sentul
1
550 sq ft
Freehold
RM380,000
Pudu
2
906 sq ft
Leasehold
RM385,000
Bangsar South
1
452 sq ft
Freehold
RM397,300
Setapak
3
850 sq ft
Leasehold
RM399,000
Taman Salak Selatan
2
657 sq ft
Leasehold
RM400,000
Setapak
3
928 sq ft
Freehold
RM423,800
*Note: Data and prices as of 9th April 2022
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What Properties Can I Buy In Selangor With A Monthly Salary Of RM3,000?

The good news is that Selangor has more land and is less congested than KL, so you’ve got more options in terms of what properties you can afford!
As of 9th April 2022, our website shows that a RM3,000 income earner with a budget of RM440,000 can choose from 9 new townhouses/terraced houses and 29 new high-rise projects!
Like the 15 high-rise projects in KL above, these are all brand-new projects.
In terms of location, most of the landed projects are located in Puncak Alam, Bangi and Dengkil. The high-rise projects on the other hand, are located in more diverse areas, distributed in Cheras, Kajang, Puchong and Shah Alam.
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9 new landed projects priced below RM440,000* in Selangor

Landed project name
Area
Type
Built-up
Tenure
Price
Puncak Alam
Townhouse
1,191 sq ft
Leasehold
RM368,000
Bukit Beruntung
Double-storey terraced house
2,300 sq ft
Freehold
RM390,600
Puncak Alam
Townhouse
1,001 – 1,033 sq ft
Leasehold
RM395,000
Dengkil
Townhouse
926 sq ft
Leasehold
RM399,714
Bangi
Townhouse
1,283 sq ft
Freehold
RM411,200
Batang Berjuntai
Double-storey terraced house
2,066 sq ft
Leasehold
RM413,600
Bandar Puncak Alam
Townhouse
1,191 sq ft
Leasehold
RM418,000
Dengkil
Double-storey terraced house
1,346 sq ft
Leasehold
RM419,900
Telok Panglima Garang
Double-storey terraced house
1,913 sq ft
Malay Reserved Land
RM438,170
*Note: Data and prices as of 9th April 2022

29 new high-rise projects priced below RM440,000* in Selangor

High-rise project name
Area
Rooms
Built-up
Tenure
Price
Kajang
2
590 sq ft
Freehold
RM230,000
Batu Caves
1
552 sq ft
Leasehold
RM250,000
Puchong
1
545 sq ft
Leasehold
RM250,000
Puchong
2
550 sq ft
Freehold
RM250,000
Rawang
2
898 sq ft
Freehold
RM260,000
Klang
1
591 sq ft
Freehold
RM270,000
Seri Kembangan
2
600 sq ft
Leasehold
RM270,000
Bangi
2
550 sq ft
Freehold
RM270,000
Rawang
3
830 sq ft
Leasehold
RM273,240
Kajang
3
859 sq ft
Freehold
RM288,000
Shah Alam
1
451 sq ft
Freehold
RM289,000
Rawang
3
850 sq ft
Leasehold
RM290,000
Petaling Jaya
3
850 sq ft
Leasehold
RM299,000
Dengkil
2
650 sq ft
Freehold
RM299,000
Puchong
2
556 sq ft
Freehold
RM340,800
Setia Alam
1
560 sq ft
Freehold
RM342,000
Kajang
3
904 sq ft
Freehold
RM347,000
Telok Panglima Garang
3
1,000 sq ft
Leasehold
RM350,000
Shah Alam
3
889 sq ft
Leasehold
RM350,000
Banting
2
688 sq ft
Leasehold
RM350,000
Rawang
3
1,163 sq ft
Freehold
RM350,000
Kajang
2
872 sq ft
Freehold
RM360,720
Puchong
2
753 sq ft
Leasehold
RM373,500
Petaling Jaya
2
718 sq ft
Leasehold
RM380,000
Cheras
2
678 sq ft
Freehold
RM380,000
Ampang
1
700 sq ft
Freehold
RM401,000
Kajang
3
1,000 sq ft
Freehold
RM405,000
Klang
1
624 sq ft
Freehold
RM412,000
Damansara Damai
3
850 sq ft
Leasehold
RM420,000
*Note: Data and prices as of 9th April 2022

Never Buy A House Outside Of Your Financial Affordability

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Using 70% of your net income for your home loan repayments alone is something we at PropertyGuru certainly advise against.
This is because it’s important to set aside some of your income every month for your emergency fund too.
Buying a property also comes with a whole host of other hidden costs, which can really add up:
If your income barely covers the home loan repayments alone, it’s likely you won’t be able to afford all the other associated expenses. You may be able to buy the house, but not afford it!
Below are three disadvantages why using a significantly high portion of your income for your property purchase may not be such a good idea:

1) Inability to save for your emergency fund

When a crisis hits or you find yourself suddenly retrenched, you won’t have sufficient funds set aside to continue paying off your home loan. Your house may get auctioned off, or worst – you’ll be facing bankruptcy.

2) Forced to sacrifice quality of life

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Allocating such a big cut of your salary to your home loan means you severely restrict other areas in your life. Starting a business or getting a new car are all off the table. You might also have to give up travel and other leisurely activities.

3) May affect your future career development

In the event that you switch jobs in the future, you might want to find a place near your job to cut down on commute time. Having your money locked up in your home loan may affect your career development by limiting your opportunities.

So, What Properties Can I Afford With A RM3,000 Salary In Malaysia?

In general, it’s advisable that your home loan repayments don’t exceed 30 to 40% of your net income.
From the example above where we used a salary of RM3,000, 40% of your net income (RM1,680) minus all living expenses is RM672.
Based on this RM672 budget, it’s advisable that you buy a property around RM180,000. This is assuming that your home loan has:
  • An interest rate of 3.5%
  • Repayment period of 35 years
  • 10% down payment at RM18,000
  • Total home loan of RM162,000
We get it. RM180,000 is barely enough to buy a property, let alone in KL or Selangor. But it’s not impossible! With a little digging, you’ll be able to hunt down small apartment units priced at RM180,000 or below.
To help you afford a home of your own, there are also various government initiatives for keen homebuyers that bring home a salary of RM3,000 or below:
The properties under these affordable housing initiatives offer projects much lower than market rates, with some even offering attractive Rent-To-Own (RTO) schemes.
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Don’t Rush Into Your Home Buying Journey!

Buying a property is often mentioned as a method for accumulating wealth, and being able to realise your dream of becoming a homeowner is no doubt an exciting achievement.
Despite that, stretching beyond your means will only leave you in financial difficulties for decades to come. So, if you can’t afford one, consider temporarily putting your home buying plans on hold!
Instead, focus your efforts on building up your income and purchasing power so you can be better prepared to buy your first home.
In the meantime, you can also work on enriching your property knowledge, getting familiar with your Debt Service Ratio (DSR), CCRIS and CTOS scores, as well as saving up for your down payment.
Remember, there’s no deadline to home ownership!
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