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  • Writer's pictureBait Al-Amanah

RM1.5tril Household Debt Fuelled by Soaring House Prices

Malaysia’s surging household debt, which has now touched RM1.53 trillion, has been driven by increasing home ownership and exacerbated by rising house prices, say economists.

Bait Al-Amanah research assistant Yugendran Sivakumaran said that the household debt is expected to rise by the end of this year, as well as next year, due to the Housing Credit Guarantee Scheme (HCGS) announced in Budget 2023.

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