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Determinants of homeownership in Malaysia

  • Tan, Teck Hong
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    The housing industry is crucial to the sustainable development in Malaysia. The efficiency and effectiveness of the housing delivery system requires housing provision for all. The housing industry, which had grown rapidly in the 1980s encountered property oversupply recently. The majority of these units remain unsold for reasons beyond price factor, ranging from poor location to unattractive houses. The main objective of this paper is to tackle property oversupply in the country by examining a detailed knowledge of home owning determinants. Homeownership should be encouraged as positive externalities of homeownership can be found in many housing surveys. Homeownership is a complex issue that is the result of many determinants, including housing characteristics (house types and property types), employment and income trends, socio-cultural and demographic descriptors. In addition to determinants, efforts needed to reduce regulatory barriers in the housing delivery system that can significantly increase the cost of producing houses. The government should make home financing more available and affordable by providing subsidies to low income families and creating incentives to save for homeownership. Efforts also needed to extend opportunities to enhance the affordability of homeownership by liberalizing rules and regulation of Employee Provident Fund (EPF) withdrawal.

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    File URL: http://mpra.ub.uni-muenchen.de/34909/2/MPRA_paper_34909.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 34909.

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    Date of creation: 16 Jun 2008
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    Handle: RePEc:pra:mprapa:34909
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    1. Bourassa Steven C., 1995. "A Model of Housing Tenure Choice in Australia," Journal of Urban Economics, Elsevier, vol. 37(2), pages 161-175, March.
    2. Edward L. Glaeser & Bruce Sacerdote, 2000. "The Social Consequences of Housing," NBER Working Papers 8034, National Bureau of Economic Research, Inc.
    3. Green, Richard K. & White, Michelle J., 1997. "Measuring the Benefits of Homeowning: Effects on Children," Journal of Urban Economics, Elsevier, vol. 41(3), pages 441-461, May.
    4. Coulson, N. Edward, 1999. "Why Are Hispanic- and Asian-American Homeownership Rates So Low?: Immigration and Other Factors," Journal of Urban Economics, Elsevier, vol. 45(2), pages 209-227, March.
    5. Denice DiPasquale & Edward L. Glaeser, 1997. "Incentives and Social Capital: Are Homeowners Better Citizens?," Harvard Institute of Economic Research Working Papers 1815, Harvard - Institute of Economic Research.
    6. Daniel Aaronson, 1999. "A note on the benefits of homeownership," Working Paper Series WP-99-23, Federal Reserve Bank of Chicago.
    7. Haurin, Donald R. & Kamara, Duewa A., 1992. "The homeownership decision of female-headed households," Journal of Housing Economics, Elsevier, vol. 2(4), pages 293-309, December.
    8. Maki, Atsushi, 1993. "Liquidity Constraints: A Cross-Section Analysis of the Housing Purchase Behavior of Japanese Households," The Review of Economics and Statistics, MIT Press, vol. 75(3), pages 429-37, August.
    9. 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, vol. 30(4), pages 635-666.
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