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Home owning motivation in Malaysia

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  • Tan, Teck Hong
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    Abstract

    The residential property industry, which had grown rapidly in the 1980s, however, encountered overhang problems recently. Overhang of residential units has been getting worse and therefore, precautionary measures must be taken by the housing developers before it leads to a property glut. In order to address property overhang in the country, housing developers must recognize the importance of orienting their activities to consider how and why households are motivated to home owning. Factor analysis of the 25 questions was used to support the grouping of these questions into a smaller number of factors. Factors were used as constructs of the motivation of homeownership. The results conclude that Malaysian householders are motivated to become homeowners because they expect home owning will improve the home environment in which a child lives, improve neighborhood stability through higher properties maintenance and improvement, and longer tenure, and improve social capital and local amenities investments in the neighborhood. The motivation of home owning is crucial to housing developers as they have to be cautious before undertaking any new project. Housing developers should know what the market really wants and plan their products to take cognizance of the changing lifestyles of Malaysians

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    File URL: http://mpra.ub.uni-muenchen.de/34906/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 34906.

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    Date of creation: 08 Feb 2009
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    Publication status: Published in Journal of Accounting, Business and Management 1.Vol. 1(2009): pp. 93-112
    Handle: RePEc:pra:mprapa:34906

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    Keywords: Motivation; Property overhang; Home owning; Housing provision; Malaysia;

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    1. Aaronson, Daniel, 2000. "A Note on the Benefits of Homeownership," Journal of Urban Economics, Elsevier, vol. 47(3), pages 356-369, May.
    2. Richard K. Green & Michelle J. White, 1994. "Measuring the Benefits of Homeowning: Effects on Children," University of Chicago - George G. Stigler Center for Study of Economy and State, Chicago - Center for Study of Economy and State 93, Chicago - Center for Study of Economy and State.
    3. Steven C. Bourassa & Donald R. Haurin & R. Jean Haurin & Patric H. Hendershott, 1994. "Independent Living and Home Ownership: An Analysis of Australian Youth," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 27(3), pages 29-44.
    4. Denice DiPasquale & Edward L. Glaeser, 1997. "Incentives and Social Capital: Are Homeowners Better Citizens?," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1815, Harvard - Institute of Economic Research.
    5. Donald R. Haurin & Toby L. Parcel & R. Jean Haurin, 2002. "Does Homeownership Affect Child Outcomes?," Real Estate Economics, American Real Estate and Urban Economics Association, American Real Estate and Urban Economics Association, vol. 30(4), pages 635-666.
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