Revisiting Homeownership Affordability Issues Among the Urban Middle-income Group in Penang, Malaysia: Multi-dimensional Impacts

Abstract

The affordability to own a home among the urban middle-income group has been getting much attention from various parties in Malaysia. Various policies and strategies have been introduced by the government to increase homeownership among Malaysians. However, this issue has not been solved comprehensively until today. This article discusses the multi-dimensional impacts of the unaffordability to own a home among the urban middle-income group in the state of Penang. A qualitative study was conducted through an in-depth interview method with 30 urban middle-income earners in Penang. Data obtained from the interview was analysed using the content analysis method. The initial results of the study show four main dimensions of the impacts due to the unaffordability to own a home among the urban middle-income group: personal, geographical, financial, and physical. The implication of this study is the necessity to apply a multi-dimensional approach in analysing the homeownership affordability issues among the urban middle-income group so that these issues can be resolved more effectively. This approach is in tandem with the sustainable development approach which emphasizes the balance between economic, social, and environmental aspects of human lives. This comprehensive approach can help to formulate more conclusive housing policies and strategies in the future.