The valuation approach in relation to the model of privatisation for land development adopted

Privatisation of property development has been practiced in Malaysia since the 1980s where it not only involved the Federal Government but also the State Governments and the Local Governments. The government undertakes privatisation of property development for various benefits such as to reduce expenditure, to improve the quality of development and to ensure faster delivery of product. It was observed that valuation of lands involved in the privatisation is significant as the valuation determines the returns to the government and costs to the developer. Inevitably the valuation will determine whether the privatisation should proceed or not. This research investigates the relationship between the model of privatisation adopted (MOP) and the approach to valuation for privatisation of property development projects by a local authority in Kuala Lumpur, Malaysia. The models of privatisation studied are the land swap, land lease, and the joint venture developments. Altogether fifteen privatisation projects were studied. Data gathered from interviews with key personnel from the identified projects were analysed qualitatively. The findings of the research positively report that the model of privatisation not only determines the type of valuation to be carried out whether capital or lease valuation but also influences the parameters for determining the value

Mismatch in the housing supply for most of the population

Purpose - This paper provides an overview of the housing supply in Malaysia and specifically in Johor.One of the obvious problems in the housing market is the existence of unsold and overhang problem.The houses offered might not have matched the buyers’ housing preferences, or in simple words, there was a mismatch between the available housing and populations’ housing demand.The mismatch may be caused by the house price aspects since the house price is closely related to the buyers’ financial capability.In response to this issue, the objective of this paper is to explore the overhang units and housing supply in terms of price and at the same time get insight the developer preferences in supplying houses.Methodology - The data from the Property Market Report has been compiled and presented in this paper.The data regarding overhang units in Malaysia and Johor Bharu were analysed in terms of the house price. Furthermore, this paper also examines the housing newly launched in terms of price and the median house price movement in Johor Bahru to capture the evidence from the housing market. Next, in order to strengthen the evidence from the market report, a qualitative research approach was also employed for this paper.Therefore, semi- structured interviews were conducted with several developers in order to obtain their preferences in housing supply. Findings - By using data from Property Market Report issued by the Valuation and Services Department, it can be seen that there are overhang housing units reported each year.It was found that most of the overhang units were beyond the financial ability of the vast majority of the Malaysian population given the fact that most of them categorized under the lower income (B40) and middle income (M40), about 40% respectively (Budget 2016). The same situation happens in Johor, most of the overhang units are unaffordable to the majority population. In the case of Johor Bahru district, the trend of house price of new supply keep increasing from year to year and consequences, most of the housing in the market including the current supply is found expensive and unaffordable. Through interviews with several developers in Johor Bahru, it was found that the developer prefers to build house priced at RM500, 000 and above. Clearly, the developer targets the high income and Singaporean purchaser.They were not keen on building affordable housing even though the demand is high.This situation contributes to the overhang supply as the majority population did not have financial ability to purchase them. A mismatch exists between the population’s housing demand and housing supply in terms of price

Issues on waqf land registration process in Malaysia and improvement proposals

Religious aspect of charity is connected closely with Islamic endowment (waqf plural awqaf) and becomes a key Islamic institution within the Muslim world for more than a millennium. Globally including Malaysia, waqf widely relates to land and buildings. Under Islamic Law the land or any property declared by individuals to become waqf is considered binding and valid as soon as the donor implies or expresses the intention clearly. There are 5 valid elements (rukn) of waqf declaration under Islamic Law. However, under Malaysian Land Law, waqf properties need to be registered at Land Office after a waqf declaration at State Islamic Religious Council (SIRC). The rational is to ensure land indefeasible ownership under National Land Code (NLC) 1965. However, there are few issues in the procedure existed. Therefore, this paper highlights nine issues from organisation and the donors involved in registration process of waqf land and suggesting nine improvement proposals by State Islamic Religious Council Johor. The approach adopted is ‘Content Analyses and ‘System Approach’

The impact of religion and culture on leadership styles of women policy-makers in the education industry

This qualitative study is purposive in sampling and explored a small number of women leaders in the education industry who are policymakers of Malay Muslim origin of their experiences in leadership positions. Policymaking here involved policies at the micro-level, which related more to their institutions and organizations. The researcher examined the women's leadership styles and the factors that influenced how they lead explicitly. Likewise, the researcher focused on how gender, culture, and religion may relate to women's experiences. Basic interpretive and descriptive qualitative research methods were employed. Data were collected through in-depth individual interviews. Participants interviewed included nine women leaders in the public and private sector who were either teachers/lecturers or administrators in the education industry. These women held positions within the top echelon of their organization or institution. The finding of this research indicated that gender, religion, and culture play an important role in women leadership experiences, therefore, themes emerged around influences on the women's approaches to leadership, with particular emphasis on the role of the larger environment in impacting women's leadership behaviours. To further focus on the impact of culture and religion on women's leadership styles, the researcher conducted a focused discussion group on the second group of Malay Muslim women leaders. This group of women leaders compromised mainly of women leaders who are department and section heads but still involved in policymaking decision albeit within their department or sections. This study can provide insight into the landscape of women‘s leadership roles and how to support these leaders

RESIDENT'S PERCEPTION ON LIVABILITY IN AFFORDABLE HOUSING IN MALAYSIA

Housing affordability has always been an issue worldwide. With the increase in human population and spiraling house price, governments have been scrambling to build sufficient affordability house to meet the forever increasing demand. In light of this there is concern on the livability aspect of these affordability houses built have been compromised. This research identifies the livability attributes and studies the perception of residents' in affordable housing towards these attributes. Findings revealed that there is compromise in location of the affordable housing schemes. The findings also signified that the most important issues to the residents were safety and accessibility to health facilities. Interestingly this research suggest that many residents within the affordable housing schemes tend to make do with the situation and would seriously consider moving to better dwellings if the opportunity arises. Keywords: affordability; livability; housing; perceptio

Sustainable livable housing: a review of what traditional urban areas residents find important

Sustainable livable housing is pre-condition for healthy living, improve quality of life and critical to economic and social survival. It also encompasses various aspects that predominantly depend on economic, social, cultural and environmental (ESCE) conditions within the locality. To this end, this paper seeks to explore, classify and assess the sustainable livable housing attributes from the existing literatures through content analysis. A review of literature revealed a total of ninety two (92) constructs, which were further grouped nine (9) livable housing-related attributes groups. Well-structured questionnaires were administered to residents of traditional urban areas (TUA) of Iwo Osun State, Nigeria with ninety two (92) constructs on Likert scale. Data were analyzed using descriptive statistic and relative importance index (RII). Out of (92) constructs from nine (9) livable housing-related attributes groups, the results identified seventy eight (78) important attributes (i.e. 35 most important and 43 important) across groups and construct that TUA residents found important. Over RII was 0.409 for overall assessment of sustainable livable housing condition by TUA residents indicating that TUA residents are dissatisfied with their current housing conditions

Establishing Semantic Network of the Malaysian Affordable Housing Livability Dimensions. International Journal of Real Estate Studies

The impetus for the study is the growing awareness of the deterioration of livability, particularly in urban environments due to the pressure of imbalance development pattern. An investigation into the views of industry and academia revealed there is a considerable gap in determining the perimeter that predicting the livability of affordable housing scheme in Malaysia. This paper offers the qualitative exploration of the Malaysian affordable housing livability dimensions. The purpose of this case study design study is to explore participant’s views consisting government bodies, public and private universities, and non-governmental organizations with the intent of using this information to develop the conceptual framework of affordable housing livability. This was accomplished by collecting the focus group data to provide a full picture of the extent of coverage of affordable housing livability dimensions. Findings from this qualitative phase will be used to test the dimensions with the sample of affordable housings’ residents. The study reveals that the affordable housing livability is conceptualized as a composite of seven dimensions. Further validation for the derivation of affordable housing livability construct validity is needed to provide adequate exploration. This study contributes to the existing body of knowledge in livability studies in terms of dimension construct. Conclusively, the findings can help researchers, planners, policy makers and others in the formulation of housing criteria guidelines for the introducing of livable housing as part of the effort to incorporate these features into any new housing projects, to improve the quality of life of in urban environments

Establishing semantic network of the Malaysian affordable housing livability dimensions

The impetus for the study is the growing awareness of the deterioration of livability, particularly in urban environments due to the pressure of imbalance development pattern. An investigation into the views of industry and academia revealed there is a considerable gap in determining the perimeter that predicting the livability of affordable housing scheme in Malaysia. This paper offers the qualitative exploration of the Malaysian affordable housing livability dimensions. The purpose of this case study design study is to explore participant’s views consisting government bodies, public and private universities, and non-governmental organizations with the intent of using this information to develop the conceptual framework of affordable housing livability. This was accomplished by collecting the focus group data to provide a full picture of the extent of coverage of affordable housing livability dimensions. Findings from this qualitative phase will be used to test the dimensions with the sample of affordable housings’ residents. The study reveals that the affordable housing livability is conceptualized as a composite of seven dimensions. Further validation for the derivation of affordable housing livability construct validity is needed to provide adequate exploration. This study contributes to the existing body of knowledge in livability studies in terms of dimension construct. Conclusively, the findings can help researchers, planners, policy makers and others in the formulation of housing criteria guidelines for the introducing of livable housing as part of the effort to incorporate these features into any new housing projects, to improve the quality of life of in urban environments

An overview of the application of property market modelling in Malaysia

This paper examines the application of property market models in Malaysia. The aim is to determine the relevance, success and trend of models in explaining problems of the property market. The theoretical underpinning of the property market form the foundation of the property market model where models represent the real property market situation. Through the analysis on research applying property market models, this research evaluates the application of property market modelling in Malaysia. The SWOT analysis enables the identification of the problems and the advantages of applying models for understanding property market behaviour. Analysis of the strength, weakness, and issues suggests that the main strength lies on the ability of the models to provide an objective explanation to property market problems and its ability to link to other technological innovations, which are useful for resolving real estate problems. The Malaysian experience in this field is relatively new but nevertheless it has significant contribution towards the application of models in real estate research