Problems Faced by Young Generations in Buying Affordable House in Kuala Lumpur

  • Mohd Hafiz Saberi
  • Nor Farah Atiqah Shafiee
  • Norbaizura Abu Bakar
  • Nor Azlin Mat Salleh
  • Mohd Esham Mamat

Abstract

Housing is the largest single investment of a lifetime. However, the level of affordability affected the decision to purchase a house. The individuals who pay more than 30% of their income are considered costly. Therefore, the Malaysian government introduced an affordable housing scheme such as PR1MA, Skim Rumah Pertamaku, RUMAWIP, and many more in Kuala Lumpur to encourage young generation to own the house. Despite many schemes being introduced, they are still not qualified and cannot afford to buy a house. Kuala Lumpur has the highest rank of unaffordable housing. Hence, this paper has determined the problems faced by young generations in buying affordable housing. The results obtained by structured online questionnaires from 225 young generations in Kuala Lumpur, were analysed by using SPSS Version 26. Findings show the problems faced by young generations are (1) Price and deposit of house are too high, (2) Levels of income does not match with housing scheme’s policy, (3) Lack of affordable house supply in the market, (4) Difficult to get loans, (5) Abandoned housing project and (6) Delay. It can be concluded that young generations in Kuala Lumpur have a desire to buy a house but their preferences somehow do not match with their eligibility and affordability. This problem of weak home buying sentiment not only comes from the buyers but also the Developers and the Government who managed them.


 

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Published
2023-10-01
How to Cite
SABERI, Mohd Hafiz et al. Problems Faced by Young Generations in Buying Affordable House in Kuala Lumpur. International Journal of Business and Technology Management, [S.l.], v. 5, n. S3, p. 235-241, oct. 2023. ISSN 2682-7646. Available at: <https://myjms.mohe.gov.my/index.php/ijbtm/article/view/24160>. Date accessed: 19 june 2024.