Determining housing affordability for young professionals in Klang Valley, Malaysia: residual income approach
Underprivileged young professionals in housing affordability are prone to an adverse effect on their well-being. This article empirically examines housing affordability among young professionals aged between 25 and 35 years old who work or live in Klang Valley. Young professionals in this paper r...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English English |
| Published: |
Malaysian Institute of Planners
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/69808/ http://irep.iium.edu.my/69808/ http://irep.iium.edu.my/69808/1/69808_DETERMINING%20HOUSING%20AFFORDABILITY_article.pdf http://irep.iium.edu.my/69808/2/69808_DETERMINING%20HOUSING%20AFFORDABILITY_scopus.pdf |
| Summary: | Underprivileged young professionals in housing affordability are prone to an
adverse effect on their well-being. This article empirically examines housing
affordability among young professionals aged between 25 and 35 years old who
work or live in Klang Valley. Young professionals in this paper refer to young
graduates with at least a Bachelor’s degree and are registered to professional
institutions such as the Institution of Engineers Malaysia (IEM), Malaysian
Institute of Architects (MIA), Malaysian Institute of Planners (MIP), and Royal
Institution of Surveyor Malaysia (RISM). The aim of this study is to measure
housing affordability based on residual income approach and to identify the
attribute that affects young professionals’ housing affordability. Adequacy of
household income for monthly mortgage or rent as well as other non-housing
goods is reflecting for housing affordability. Attributes namely occupation, the
presence of children, household expenditure, transportation cost, vehicle
instalment, education loan, and household income are analysed by using binary
logistic regression. 264 respondents who are either a homeowner, tenant, or
parental home resident were selected by using simple random sampling. The
survey data were collected through the professional institutions respectively. The
study found that only presence of children, occupation of urban planner and
education loan III (not taking a loan) were insignificant to the model. |
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