Penang Property Price Facts

Something to share from an article I read in Star newspaper today regarding the Penang property prices:

FACT 1:

Average annual household income in Penang = RM42,000

Average house price = RM578,000, or 14.2 times more !!!

FACT 2:

National average annual household income = RM38,987

Average house price nationwide = RM180,000, or 4.6 times more !!!

FACT 3:

Selling price of a condominium unit on the island had increased to RM350 per sq ft from RM250 two years ago !!!

FACT 4:

Terrace houses are now selling from RM700,000 onwards, compared to RM520,000 in the second quarter of 2009 !!!

Conclusion:

So tell me? Can you still afford to get a property for living with our average salary? Answer is NOOOOO....so what's the best way to get our own living place? Move out from the island? I just don't know, feel free to tell me :p