Abstract
Housing has always been a significant aspiration of family expression and distinctly priciest investment by household. It plays a momentous role in the country's economy and so central to the societal well-being that is emplaced in the United Nation Universal declaration of Human rights. Yet in developed and developing world alike, cities struggle to provide decent housing for lower and middle income population. The provision of affordable housing is a major policy concern around the world with Malaysia being no exception; rising income hardly keep pace with price hike of housing unit and housing interventions has majorly concentrated on demand side leading to a non- responsive supply sector. Therefore, this paper highlights affordable housing issues pertaining Malaysia. It formulates Malaysian Map of affordability and conducts an evaluation of global housing schemes to better identify policy priorities for Malaysia. It's significant to harmonize supply and demand side factors in the housing market to ensure that housing supply fits the needs of citizens based on the location, price and target group. In case of Malaysia supply oriented initiative are of urgency in short and medium run. This must be supported by long term demand side schemes in parallel. Convergence of these two factors is essential for a balanced equilibrium and obtaining affordability.
Highlights
Housing is decisively rooted in the economic social, and political sphere of any country that it impossible to be explored in isolation from the broader scope of governance and policy
This paper reviewed affordable housing issues in Malaysia and formulated map of affordability to enable policy makers to consider strategies targeting issues pertaining particular state or geographical area
Drawing on literatures from both developed and developing world, this study attempted to provides an overview of the policy schemes that are influential in determining housing market performance
Summary
Housing is decisively rooted in the economic social, and political sphere of any country that it impossible to be explored in isolation from the broader scope of governance and policy. From slum dwellers in the third world cities to middle-income households in affluent global capitals, millions of people are challenged to find affordable housing without financial pressure. Rapid urbanization combined with population growth has incited a surge in housing prices in many urban areas, mainly in developing countries including Malaysia (Buhaug & Urdal, 2013). This has been supported by the evolution of nuclear families as against extended families brought about by economic development; in 1970 there were 182 households for every 1,000 people, by 2020 there will be 250 households for every 1,000 people (Suraya, 2015). Increase in foreigners (expatriate, students and tourists), migration, changing pattern of economic status of the population, change in expectation, and dilapidation of the existing stock has resulted in severe shortage of affordable housing
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
