Housing Price Control: Is It A Way Forward?
Free (open access)
1225 - 1235
E. M. Kamal, H. Hassan, A. Osmadi, H. Abdul Fatah
Housing has been a long-term focus in urban development and in social and economic policies. Addressing the housing needs of the nations is an important agenda for developed and developing countries. Each country has its own unique housing system, which consists of a method which ensures that housing of a sufficient quality is built, with a fair housing allocation system, and a properly maintained housing stock. Past research suggests that the government plays a central role in creating, sustaining, and improving the housing system. These actions are carried out through legislation, from banking and mortgage lending practices to tax and policy/regulatory measures affecting the building materials, professional practices, subsidy programs, and incentive patterns for average households. The current study presents a literature review on the experience of various countries in addressing housing affordability issues. Moreover, this study contributes to the body of knowledge related to housing price control, based on the experience of various countries. It aims to provide an alternative for Malaysia in handling the housing affordability issue.
housing affordability, role of government, price control mechanism