Year: 2022
Type: article
Abstract: Housing affordability concerns are particularly widespread in lower-and middleincome households in most major Malaysian cities, with most of them having trouble purchasing a home.This research therefore seeks to highlight certain related issues of housing affordability and discuss the concept of price regulation according to Ibn Taimiyyah.This study finds that one of the key challenges raised is the sensitivity of housing affordability which is caused by developers' tendency to boost price to maximize profit, resulting in increasing house prices.In terms of the price notion, Ibn Taimiyyah places a greater focus on a fair price, which indicates that the worth of an item's price is acceptable and proportionate with the commodities supplied at a given location and time.Ibn Taimiyyah divides pricing into two categories namely injustice and elemental tyranny.Thus, price regulation is permitted in Islam for the benefit of the welfare state.The originality of this study is it highlights several important issues relating to price regulation in housing affordability that are not widely discussed among researchers.Therefore, it is hoped that it will be able to contribute to the ground knowledge and understanding of the importance of price regulation in housing affordability.
Institutions: Universiti Sultan Azlan Shah, Universiti Utara Malaysia
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $200
OpenAlex ID: W4310537602