Factors Affecting the Housing Affordability of Homebuyers in Perak: Measuring Transport Expenditure

Norhayati Baharun,Suraya Masrom,Afiqah Roshidi

doi:10.5171/2021.676983

Abstract

Increasing housing prices in Perak has made it difficult for homebuyers to own affordable housing. Housing affordability ensures that housing provided is affordable for every income group, especially the low and middle-income groups. It has brought the government and housing developers’ attention the issue of housing affordability by supplying public low-cost housing schemes.

Highlights

Affordability concerns making housing affordable for every household, it is not meant to focus only on the low prices, and on the quality of the house
Most of the respondents were the owner of the house (52.3%), several are tenants (27.7%) and a few stayed at family homes or home share. 33.8% of the respondents stayed at a single-story terrace, followed by a double-storey terrace with
The result of this study showed that variables associated with locational attributes such as access to shopping, public transport, leisure, school, and workplace were found to be significant to housing affordability

Summary

Introduction

Affordability concerns making housing affordable for every household, it is not meant to focus only on the low prices, and on the quality of the house. To provide affordable and quality housing, it is important to identify the main factors that influence people to buy houses such as housing prices and location. Housing affordability is a crucial issue over the last decade because of the continuous increase in property prices due to the economic rapid growth. This is because the house price is the main consideration when deciding to own a house. Housing is not truly affordable if located in an accessible area with high transportation costs. This is because the transportation costs are highly associated with the selection of the residential location

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Conclusion