A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives

The House Buyer Association (HBA), representing house buyers in Malaysia believe that purchasing and ultimately owning a house is everyone’s biggest dream and brings a sense of accomplishment and pride to one’s life. However, it is not uncommon that house buyers encounter problems in the process of...

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Main Authors:	Haron, Razali, Abdul Razak, Dzuljastri, Babatunde, Jaiyeoba Haruna
Format:	Conference or Workshop Item
Language:	English
Published:	2015
Subjects:	HG4001 Financial management. Business finance. Corporation finance.
Online Access:	http://irep.iium.edu.my/46023/ http://irep.iium.edu.my/46023/1/46023.pdf

id	iium-46023
recordtype	eprints
spelling	iium-460232019-06-13T01:55:49Z http://irep.iium.edu.my/46023/ A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives Haron, Razali Abdul Razak, Dzuljastri Babatunde, Jaiyeoba Haruna HG4001 Financial management. Business finance. Corporation finance. The House Buyer Association (HBA), representing house buyers in Malaysia believe that purchasing and ultimately owning a house is everyone’s biggest dream and brings a sense of accomplishment and pride to one’s life. However, it is not uncommon that house buyers encounter problems in the process of owning a house, where their dream house projects were abandoned. The Ministry of Housing and Local Government’s regards abandoned housing projects as a highly serious problem that demands urgent attention. As of May, 2015 alone, Malaysia records a huge number of 17,987 families being affected from 157 abandoned housing projects. Realising the dire needs to mitigate this abandoned housing projects, this study aims to provide insights into this matter through a survey analysis carried out among 328 house buyers covering 11 states in Malaysia. Using Likert scale, the analysis revealed that lack of enforcement of housing law and policy as one of the main contributing factors of abandoned housing projects and the house buyers are not adequately protected under the existing law and practices. The developers and the banks have taken advantage of the Sell Then Build (STB) system where associated risks were being transferred to the house buyers through progressive payments and the monthly installments. The study provides insights to practitioners and policy makers on further improvements of the law and policy to mitigate or prevent abandoned housing projects as well as to protect house buyers’ interests in the case of late delivery or even if their dream house project is unfortunately abandoned. 2015-11-25 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/46023/1/46023.pdf Haron, Razali and Abdul Razak, Dzuljastri and Babatunde, Jaiyeoba Haruna (2015) A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives. In: International Conference on Global Business & Social Entrepreneurship (ICoGBSE2015), 25th-26th Nov. 2015, Geopark Hotel, Langkawi, Kedah.
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG4001 Financial management. Business finance. Corporation finance.
spellingShingle	HG4001 Financial management. Business finance. Corporation finance. Haron, Razali Abdul Razak, Dzuljastri Babatunde, Jaiyeoba Haruna A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives
description	The House Buyer Association (HBA), representing house buyers in Malaysia believe that purchasing and ultimately owning a house is everyone’s biggest dream and brings a sense of accomplishment and pride to one’s life. However, it is not uncommon that house buyers encounter problems in the process of owning a house, where their dream house projects were abandoned. The Ministry of Housing and Local Government’s regards abandoned housing projects as a highly serious problem that demands urgent attention. As of May, 2015 alone, Malaysia records a huge number of 17,987 families being affected from 157 abandoned housing projects. Realising the dire needs to mitigate this abandoned housing projects, this study aims to provide insights into this matter through a survey analysis carried out among 328 house buyers covering 11 states in Malaysia. Using Likert scale, the analysis revealed that lack of enforcement of housing law and policy as one of the main contributing factors of abandoned housing projects and the house buyers are not adequately protected under the existing law and practices. The developers and the banks have taken advantage of the Sell Then Build (STB) system where associated risks were being transferred to the house buyers through progressive payments and the monthly installments. The study provides insights to practitioners and policy makers on further improvements of the law and policy to mitigate or prevent abandoned housing projects as well as to protect house buyers’ interests in the case of late delivery or even if their dream house project is unfortunately abandoned.
format	Conference or Workshop Item
author	Haron, Razali Abdul Razak, Dzuljastri Babatunde, Jaiyeoba Haruna
author_facet	Haron, Razali Abdul Razak, Dzuljastri Babatunde, Jaiyeoba Haruna
author_sort	Haron, Razali
title	A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives
title_short	A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives
title_full	A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives
title_fullStr	A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives
title_full_unstemmed	A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives
title_sort	survey analysis on abandoned housing projects in malaysia. the house buyers’ perspectives
publishDate	2015
url	http://irep.iium.edu.my/46023/ http://irep.iium.edu.my/46023/1/46023.pdf
first_indexed	2023-09-18T21:05:29Z
last_indexed	2023-09-18T21:05:29Z
_version_	1777410905090293760

A survey analysis on abandoned housing projects in Malaysia. The house buyers’ perspectives

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