Overhang of Residential Property in Relation to Consumer Buying Behaviour in Klang Valley

Tai, Jia Nian (2022) Overhang of Residential Property in Relation to Consumer Buying Behaviour in Klang Valley. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Property development makes a significant contribution to a country's economic growth. The major consumptions among the types of development is residential. The current situation of property overhang in Malaysia has become more serious. Overhanging residential property, particularly landed residential property, has been widely reported in the news recently. The objectives to conduct this research are 1) To identify the factors that influence the homebuyers' reluctant to purchase residential property, 2) To determine the effective solutions to be implemented by the government in order to overcome property overhang, 3) To determine the effective measures to be adopted by the developers in order to minimize the issues of the overhang of residential property. The factors that influence the homebuyers' reluctant to purchase residential property are revealed and discussed in four categories which are economic, physical, environmental, and psychological aspects. Two sets of questionnaires will be provided to the two different types of respondents who is chosen using a non-probability sampling approach known as judgmental sampling. The techniques for data analysis proposed in this study is Descriptive Statistic Analysis and Relative Important Index (RII) for the all the objectives. Besides, Inferential Statistics through One-Way ANOVA analysis was used to determine whether there is a significant difference between dependent variable and independent variable. The findings of descriptive analysis revealed the most decisive factor of property overhang and also the most effective solution to reduce or overcome the issue of overhang. The limitations of this research are due to a lack of time in which to prepare the survey, as well as reluctant respondents. Therefore, if possible, paper-pencil survey are recommended since they can obtain more information from chosen participants, who may be highly experienced persons who can provide much more accurate responses. Besides, this research is being conducted during the epidemic, it is more difficult to gather data from a larger range of respondents as some of the developer or construction firm have closed or reduced their staff. In order to solve this issue, expanding the population area is one of the recommendations to ensure that data from projects in the suburbs is included.