Over the years, Transaction Cost Economics (TCE) has been successfully applied into various industries in attempt to analyse on the cost-effectiveness of their activities and performances within the economic activities. As such, Construction Industry also adopt the theory by taking advantage of TCE’s good merits in their construction plan and activities. In parallel with TCE application in various industries, academic works regarding this research domain have been rising steadily. Which is why this research sets to study the application of TCE in Housing Development to determine the possibility and benefits in its adoption through Systematic Literature Review. The review utilises the Bibliometric Analysis and conducted using Visualisation of Similarities (VOS) Viewer software. The analysis enables the identification of main research areas, an estimation of their size, and assessment of interaction between these research areas to determine the substance and relevancy of the research topic. The outcome managed to illustrate the systematic literature review of TCE application within the Construction Industry and managed to highlight that the research area is not well explored when Housing Development is incorporated. Thus, this calls for a much needed extensive study into the aforementioned specific research area. The findings of this analysis managed to provide clear direction for future research to navigate through the voluminous academic papers as well as a detailed descriptive analysis guidance to delve into the unexplored research areas.