Ernawati Mustafa Kamal and Hasnanywati Hassan and Atasya Osmadi
Factors Influencing the Housing Price Developers’ Perspective
1676 - 1682
2016
10
5
International Journal of Humanities and Social Sciences
https://publications.waset.org/pdf/10004541
https://publications.waset.org/vol/113
World Academy of Science, Engineering and Technology
The housing industry is crucial for sustainable
development of every country. Housing is a basic need that can
enhance the quality of life. Owning a house is therefore the main aim
of individuals. However, affordability has become a critical issue
towards homeownership. In recent years, housing price in the main
cities has increased tremendously to unaffordable level. This paper
investigates factors influencing the housing price from developer’s
perspective and provides recommendation on strategies to tackle this
issue. Online and facetoface survey was conducted on housing
developers operating in Penang, Malaysia. The results indicate that
(1) location; (2) macroeconomics factor; (3) demographic factors; (4)
landzoning and; (5) industry factors are the main factors influencing
the housing price. This paper contributes towards better
understanding on developers’ view on how the housing price is
determined and form a basis for government to help tackle the
housing affordability issue.
Open Science Index 113, 2016