Perpustakaan Digital ITB

Purpose – The purpose of this paper is to explore the affordability of Malaysian housing market, sufficiency of affordable housing and factors influencing the housing affordability in Malaysia. Design/methodology/approach – In this study, qualitative research approach was adopted. Semistructured interviews were conducted with ten industry practitioners from developers and real estate agencies and further validation with three industry experts. Findings – The findings reveal that housing affordability is a grave concern to average Malaysians, and the supply of affordable housing is insufficient in the current residential property market. Income, property price, land cost and demand and supply are identified as significant factors affecting housing affordability. Research limitations/implications – The research findings provide an insight rather than definitive information, as the small sample size could limit the generalizability of the findings. Future research can include participants from the public sector and focus on the policy options. Practical implications – This paper provided numerous policies to ensure successful deliverability of affordable housing which eases government to partner with private sector to formulate a systematic framework for implementation of affordable housing programs and schemes. Social implications – There is a need for government to pay more attention to housing needs of middleincome groups. Also, the government is urged to ensure transparent balloting process in every implementation of affordable housing programs. Originality/value – The paper emphasised the issues of undersupply of affordable housing and mismatch of property price and income. The paper also highlights the key reasons behind high housing affordability index. Hence, it is hoped that this paper will encourage positive debate and gain some attention from the policymakers, practitioners and researchers in Malaysia and beyond.