IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v8y2024i3p2635-2652.html
   My bibliography  Save this article

Promoting Home Ownership among the Underprivileged: The Role of Social Financing

Author

Listed:
  • Mahazril ‘Aini Yaacob

    (Faculty of Administrative Science and Policy Studies, Malaysia)

  • Farihah Hassan

    (Faculty of Administrative Science and Policy Studies, Malaysia)

  • Saidatul Akma Hamik

    (Faculty of Administrative Science and Policy Studies, Malaysia)

  • Norraidah Abu Hasan

    (Faculty of Administrative Science and Policy Studies, Malaysia)

  • Herman Shah Shahbuddin

    (Bank Islam Malaysia Berhad, Malaysia)

Abstract

Many people struggle to obtain home ownership due to unaffordable housing and limited financing. As a result, they opted for renting, which also became a challenge due to the unstable rental sector. Therefore, this paper presents a qualitative analysis of the housing challenges and the roles of social financing in promoting home ownership among the underprivileged in Malaysia. A focus group discussion with ten participants was conducted from low-income groups living in the public housing project (PPR) Kampung Kerinchi, Kuala Lumpur, Malaysia, to validate their housing challenges in their pursuit of home ownership. The findings revealed that housing affordability is the main reason people cannot own it, which has become one of the challenges they face. The study also highlights the challenges related to financing accessibility for affordable homes. The introduction of social finance in managing unaffordability issues among people is seen as a practical tool for people towards home ownership and financial institutions as part of their social responsibility.

Suggested Citation

  • Mahazril ‘Aini Yaacob & Farihah Hassan & Saidatul Akma Hamik & Norraidah Abu Hasan & Herman Shah Shahbuddin, 2024. "Promoting Home Ownership among the Underprivileged: The Role of Social Financing," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(3), pages 2635-2652, March.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:3:p:2635-2652
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-8-issue-3/2635-2652.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/articles/promoting-homeownership-among-the-underprivileged-the-role-of-social-financing/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Marc Audi & Amjad Ali, 2023. "The Role of Environmental Conditions and Purchasing Power Parity in Determining Quality of Life among Big Asian Cities," International Journal of Energy Economics and Policy, Econjournals, vol. 13(3), pages 292-305, May.
    2. Asish Saha & Lim Hock Eam & Siew Goh Yeok, 2022. "Housing loan default in Malaysia: an analytical insight and policy implications," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 16(2), pages 273-291, March.
    3. Corsetti, Giancarlo & Duarte, Joao B. & Mann, Samuel, 2020. "One Money, Many Markets: Monetary Transmission and Housing Financing in the Euro Area," CEPR Discussion Papers 14968, C.E.P.R. Discussion Papers.
    4. repec:eme:ijhma0:ijhma-02-2020-0009 is not listed on IDEAS
    5. Mingchen Duan, 2011. "Investigation on housing affordability in Lanzhou, Northwest China," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 4(2), pages 180-190, May.
    6. repec:eme:aaaj00:aaaj-06-2015-2088 is not listed on IDEAS
    7. Zafirah Al Sadat Zyed & Chooi Sien Low & Peter Aning Tedong, 2020. "Delivery mechanism on homeownership education among millennials in Kuala Lumpur," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 14(2), pages 410-423, July.
    8. Amy Soon & Consilz Tan, 2019. "An analysis on housing affordability in Malaysian housing markets and the home buyers’ preference," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 13(3), pages 375-392, August.
    9. repec:eme:ijhma0:ijhma-01-2019-0009 is not listed on IDEAS
    10. Chukwuma C. Nwuba & Eunice Oluwakemi Chukwuma-Nwuba, 2018. "Barriers to accessing mortgages in Nigeria’s housing markets," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 11(4), pages 716-733, May.
    11. Stefan Gold & Pasi Heikkurinen, 2018. "Transparency fallacy," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 31(1), pages 318-337, January.
    12. Ahmad Subagyo & Akhmad Syari’udin & Akhmad Yunani, 2022. "Determinantresidential real estateof millennial generation in adapting housing microfinance case Indonesia chapter," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 16(5), pages 1007-1020, August.
    13. Jian Liu & Huay Ying Ong, 2021. "Can Malaysia’s National Affordable Housing Policy Guarantee Housing Affordability of Low-Income Households?," Sustainability, MDPI, vol. 13(16), pages 1-19, August.
    14. Nor Ali Mohamed & Dayah Abdi Kulmie, 2023. "Role of Effective Monitoring and Evaluation in Promoting Good Governance in Public Institutions," Public Administration Research, Canadian Center of Science and Education, vol. 12(2), pages 1-48, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pishchulov, Grigory & Trautrims, Alexander & Chesney, Thomas & Gold, Stefan & Schwab, Leila, 2019. "The Voting Analytic Hierarchy Process revisited: A revised method with application to sustainable supplier selection," International Journal of Production Economics, Elsevier, vol. 211(C), pages 166-179.
    2. Nosratzadeh, Hossein & Bhowmick, Debjit & Carmona, Ana Belén Ríos & Thompson, Jason & Thai, Thao & Pearson, Lauren & Beck, Ben, 2024. "A scoping review of the design and characteristics of e-bike financial incentives," OSF Preprints 5xgch, Center for Open Science.
    3. Insha Kunwal & Muhammad Ramzan Sheikh & Muhammad Zahir Faridi & Muhammad Imran Mushtaq, 2023. "Urbanization, Energy Consumption and Environmental Quality in Asian Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(4), pages 372-386.
    4. Stefan Gold & Thomas Chesney & Tim Gruchmann & Alexander Trautrims, 2020. "Diffusion of labor standards through supplier–subcontractor networks: An agent‐based model," Journal of Industrial Ecology, Yale University, vol. 24(6), pages 1274-1286, December.
    5. Koeniger, Winfried & Lennartz, Benedikt & Ramelet, Marc-Antoine, 2022. "On the transmission of monetary policy to the housing market," European Economic Review, Elsevier, vol. 145(C).
    6. Ullah, Asad & Ali, Amjad, 2024. "Investigating Corruption, Income Inequality, and Environmental Degradation in Pakistan: A Time Series Analysis," MPRA Paper 121291, University Library of Munich, Germany.
    7. Emmanuel Joseph Odoyi & Kirsikka Riekkinen, 2022. "Housing Policy: An Analysis of Public Housing Policy Strategies for Low-Income Earners in Nigeria," Sustainability, MDPI, vol. 14(4), pages 1-27, February.
    8. João Monteiro & Ana Clara Carrilho & Nuno Sousa & Leise Kelli de Oliveira & Eduardo Natividade-Jesus & João Coutinho-Rodrigues, 2023. "Do We Live Where It Is Pleasant? Correlates of Perceived Pleasantness with Socioeconomic Variables," Land, MDPI, vol. 12(4), pages 1-20, April.
    9. Maryam Aziz & Muhammad Zeeshan Shaukat & Abdul Aziz Khan Niazi & Abdul Basit & Tehmina Fiaz Qazi, 2023. "Wavelet Analysis of CO2 Emissions’ Co-movement: An Investigation of Lead–lag Effect among Emerging Asian Economies," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(3), pages 36-51.
    10. Tehmina Fiaz Qazi & Abdul Aziz Khan Niazi & Madiha Saleem & Abdul Basit & Muhammad Umair Ahmed, 2023. "Evaluation of Green Banking in Pakistan Using Framework of the Central Bank: Employing TOPSIS Approach," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(4), pages 159-168.
    11. Tehmina Fiaz Qazi & Abdul Aziz Khan Niazi, 2023. "An Analysis of the Determinants of Trust in Virtual Buying: An Interpretive Structural Modeling Approach," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(2), pages 103-116.
    12. Suleiman Ahmad Abubakar & Othman Mahmod & Daud Hanita & Abdullah Mohd Lazim & Kadir Evizal Abdul & Kane Ibrahim Lawal & Husin Abdullah, 2023. "Forecasting the Volatility of Real Residential Property Prices in Malaysia: A Comparison of Garch Models," Real Estate Management and Valuation, Sciendo, vol. 31(3), pages 20-31, September.
    13. Uzma Ghafoor & Muhammad Ramzan Sheikh & Afsheen Baqir, 2023. "Green Growth, Environmental Quality, Energy Consumption Nexus in OECD Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(4), pages 409-418.
    14. Damberg, Sarah V. & Hartmann, Julia & Heese, H. Sebastian, 2022. "Does bad press help or hinder sustainable supply chain management? An empirical investigation of US-based corporations," International Journal of Production Economics, Elsevier, vol. 249(C).
    15. Saima Ashiq & Amjad Ali & Hafiz Muhammad Abubakar Siddique & Sumaira, 2023. "Impact Of Innovation On Co2 Emissions In South Asian Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(2), pages 201-211.
    16. Muhammad Usman & Muhammad Wasim & Rao Bahkat Yawar, 2023. "Assessing the Economic Implications of Climate Change on Agriculture in Punjab in Pakistan: Farmers Perception and Satisfaction," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(3), pages 501-518.
    17. Fiaz Ahmad Sulehri & Marc Audi & Marc Poulin & Amjad Ali, 2024. "Nexus between Innovation and Ecological Impact: A Moderated Mediation Investigation through Structural Equation Modeling Approach," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 509-518, July.
    18. Fiaz Ahmad Sulehri & Amjad Ali, 2024. "Nexus among Regulatory Framework, Economic Growth and Sustainable Development: Insights from Structural Equation Modeling Approach," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 110-117.
    19. Marc Audi & Amjad Ali, 2023. "Unveiling the Role of Business Freedom to Determine Environmental Degradation in Developing Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 157-164, September.
    20. Guo, Jianan & Islam, Muhammad Azizul & Jain, Ameeta & van Staden, Chris J., 2022. "Civil liberties and social and environmental information transparency: A global investigation of financial institutions," The British Accounting Review, Elsevier, vol. 54(1).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:8:y:2024:i:3:p:2635-2652. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.