IDEAS home Printed from https://ideas.repec.org/a/vrs/remava/v32y2024i3p87-100n1007.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/remav-2024-0027
    Download Restriction: no
    File URL: https://libkey.io/10.2478/remav-2024-0027?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Petropoulos, Fotios & Apiletti, Daniele & Assimakopoulos, Vassilios & Babai, Mohamed Zied & Barrow, Devon K. & Ben Taieb, Souhaib & Bergmeir, Christoph & Bessa, Ricardo J. & Bijak, Jakub & Boylan, Joh, 2022. "Forecasting: theory and practice," International Journal of Forecasting, Elsevier, vol. 38(3), pages 705-871.
      • Fotios Petropoulos & Daniele Apiletti & Vassilios Assimakopoulos & Mohamed Zied Babai & Devon K. Barrow & Souhaib Ben Taieb & Christoph Bergmeir & Ricardo J. Bessa & Jakub Bijak & John E. Boylan & Jet, 2020. "Forecasting: theory and practice," Papers 2012.03854, arXiv.org, revised Jan 2022.
    2. Uddin, Md Akther, 2015. "Principles of Islamic Finance: Prohibition of Riba, Gharar and Maysir," MPRA Paper 67711, University Library of Munich, Germany.
    3. Song Shi & Vince Mangioni & Xin Janet Ge & Shanaka Herath & Fethi Rabhi & Rachida Ouysse, 2021. "House Price Forecasting from Investment Perspectives," Land, MDPI, vol. 10(10), pages 1-17, September.
    4. Crowe, Christopher & Dell’Ariccia, Giovanni & Igan, Deniz & Rabanal, Pau, 2013. "How to deal with real estate booms: Lessons from country experiences," Journal of Financial Stability, Elsevier, vol. 9(3), pages 300-319.
    5. Robert J. Shiller & Allan N. Weiss, 2000. "Moral Hazard in Home Equity Conversion," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 28(1), pages 1-31.
    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. Nie, Yan & Zhang, Guoxing & Zhong, Luhao & Su, Bin & Xi, Xi, 2024. "Urban‒rural disparities in household energy and electricity consumption under the influence of electricity price reform policies," Energy Policy, Elsevier, vol. 184(C).
    2. Alessandra Canepa & Fawaz Khaled, 2018. "Housing, Housing Finance and Credit Risk," IJFS, MDPI, vol. 6(2), pages 1-23, May.
    3. Paulo M.M. Rodrigues & Rita Fradique Lourenço, 2015. "House prices: bubbles, exuberance or something else? Evidence from euro area countries," Working Papers w201517, Banco de Portugal, Economics and Research Department.
    4. Hertrich Markus, 2019. "A Novel Housing Price Misalignment Indicator for Germany," German Economic Review, De Gruyter, vol. 20(4), pages 759-794, December.
    5. European Commission, 2013. "Tax reforms in EU Member States - Tax policy challenges for economic growth and fiscal sustainability – 2013 Report," Taxation Papers 38, Directorate General Taxation and Customs Union, European Commission.
    6. Shimizu, Chihiro, 2014. "How Are Property Investment Returns Determined? : Estimating the Micro-Structure of Asset Prices, Property Income, and Discount Rates," HIT-REFINED Working Paper Series 12, Institute of Economic Research, Hitotsubashi University.
    7. Mikkel Hermansen & Oliver Röhn, 2017. "Economic resilience: The usefulness of early warning indicators in OECD countries," OECD Journal: Economic Studies, OECD Publishing, vol. 2016(1), pages 9-35.
    8. Robert Clark & Shaoteng Li, 2022. "The Strategic Response of Banks to Macroprudential Policies: Evidence from Mortgage Stress Tests in Canada [LIBOR manipulation?]," Review of Finance, European Finance Association, vol. 26(1), pages 187-216.
    9. Wesley Marcos Almeida & Claudimar Pereira Veiga, 2023. "Does demand forecasting matter to retailing?," Journal of Marketing Analytics, Palgrave Macmillan, vol. 11(2), pages 219-232, June.
    10. Lainà, Patrizio & Nyholm, Juho & Sarlin, Peter, 2015. "Leading indicators of systemic banking crises: Finland in a panel of EU countries," Review of Financial Economics, Elsevier, vol. 24(C), pages 18-35.
    11. Alroomi, Azzam & Karamatzanis, Georgios & Nikolopoulos, Konstantinos & Tilba, Anna & Xiao, Shujun, 2022. "Fathoming empirical forecasting competitions’ winners," International Journal of Forecasting, Elsevier, vol. 38(4), pages 1519-1525.
    12. Dominic Quint & Pau Rabanal, 2014. "Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area," International Journal of Central Banking, International Journal of Central Banking, vol. 10(2), pages 169-236, June.
    13. David Miles, 2012. "Population Density, House Prices and Mortgage Design," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(5), pages 444-466, November.
    14. Moumita Poddar Rana & Tanmoyee Banerjee (Chatterjee) & Ajitava Raychaudhuri, 2023. "Religious And Social Group Diversity In Borrowing And Spending Behaviour: Analysis Of Survey Results From Rural West Bengal, India," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 68(236), pages 51-79, January –.
    15. Augusto Cerqua & Marco Letta & Gabriele Pinto, 2024. "On the (Mis)Use of Machine Learning with Panel Data," Papers 2411.09218, arXiv.org.
    16. Spiliotis, Evangelos & Petropoulos, Fotios, 2024. "On the update frequency of univariate forecasting models," European Journal of Operational Research, Elsevier, vol. 314(1), pages 111-121.
    17. Saha, Asish & Rooj, Debasis & Sengupta, Reshmi, 2023. "Macroprudential Policy and mortgage leverage decisions—Evidence from micro data," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1430-1444.
    18. Funke, Michael & Kirkby, Robert & Mihaylovski, Petar, 2018. "House prices and macroprudential policy in an estimated DSGE model of New Zealand," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 152-171.
    19. Chris McDonald, 2015. "When is macroprudential policy effective?," BIS Working Papers 496, Bank for International Settlements.

    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

    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:vrs:remava:v:32:y:2024:i:3:p:87-100:n:1007. 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.