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Evaluating Market Attributes and Housing Affordability: Gaining Perspective on Future Value Trends

Author

Listed:
  • Said Rosli

    (Faculty of Built Environment, Universiti Malaya, 50603 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia)

  • Sulaimi Mardhiati

    (Faculty of Built Environment, Universiti Malaya, 50603 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia)

  • Majid Rohayu Ab

    (College of Built Environment, Universiti Teknologi Mara, 40450 Shah Alam, Selangor Darul Ehsan, Malaysia)

  • Aini Ainoriza Mohd

    (Faculty of Built Environment, Universiti Malaya, 50603 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia)

  • Olanrele Olusegun Olaopin

    (Faculty of Built Environment, Universiti Malaya, 50603 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia)

  • Akinsomi Omokolade

    (School of Construction Economics and Management, University of the Witwatersrand, 1 Jan Smuts Ave, Braamfontein, Johannesburg, 2017, South Africa)

Abstract

This study fills a significant research gap in Malaysian government-led homeownership and affordability. Centered on crucial market attributes influencing these initiatives, insights from low-income groups were obtained. The primary aim of this study was to assess the importance of various market attributes on government homeownership initiatives in Malaysia. The data were collected from low-income groups using a structured questionnaire, providing valuable insights into the unique challenges faced by this demographic. A Relative Importance Index (RII) was employed to analyze the data, revealing that Financial Market Factors, Household Financial Capacity, Housing Affordability and Accessibility, and Government Housing Policies were the market attributes of the highest importance in shaping government homeownership efforts. The results of the exploratory factor analysis demonstrated that the Financial Market Factor was the most influential component, as indicated by its mean rank. This study sought to incorporate the valuable perspectives of respondents regarding integrating future value into financing models. Respondents' opinions reflected a significant level of support for such innovative approaches. This study examines the crucial market attributes influencing government homeownership initiatives in Malaysia. The findings underline the potential of incorporating future value into financing models to enhance housing affordability for low-income groups and promote broader homeownership objectives.

Suggested Citation

  • Said Rosli & Sulaimi Mardhiati & Majid Rohayu Ab & Aini Ainoriza Mohd & Olanrele Olusegun Olaopin & Akinsomi Omokolade, 2024. "Evaluating Market Attributes and Housing Affordability: Gaining Perspective on Future Value Trends," Real Estate Management and Valuation, Sciendo, vol. 32(3), pages 87-100.
  • Handle: RePEc:vrs:remava:v:32:y:2024:i:3:p:87-100:n:1007
    DOI: 10.2478/remav-2024-0027
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    More about this item

    Keywords

    homeownership; financing model; mortgage loan; real estate market;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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