Year: 2025
Type: article
Abstract: Over the last 25 years, from 2000 to 2024, Malaysian home prices have been steadily increasing, raising serious concerns in the real estate industry, especially in urban areas. This problem particularly impacts low-income households (B40) and first-time homebuyers. To improve housing affordability for all societal groups, this issue must be addressed. Analysing Malaysia's rising home prices over the 25 years from 2000 to 2024, and determining the reasons influencing this trend, are the goals of this study. Secondary data is gathered from market reports, the Valuation and Property Services Department (JPPH), and other relevant sources as part of the qualitative technique. To identify trends and causes influencing the increase in home prices, data analysis was conducted. The study's conclusions demonstrate that, over the past 25 years, home prices have increased significantly due to several factors, including rising building costs, urbanisation, demographic shifts, low loan interest rates, and increased demand and supply for homes. In conclusion, this study offers recommendations to the government and real estate developers to stabilise the housing market and advises stakeholders to develop plans to address the issue of rising home prices.
Author: Norazmawati Md. Sani @ Abd.Rahim
Institution: Universiti Sains Malaysia
Language: English
Topic: Housing Market and Economics
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4412063486