A Study on the House Buyer’s Perception on Medium Cost Condominium Prices in Kuala Lumpur

Koo, Jia Min (2023) A Study on the House Buyer’s Perception on Medium Cost Condominium Prices in Kuala Lumpur. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Safe and affordable housing is a basic necessity for every household. Housing price is the main consideration in the decision to buy the property. Owning a house has become a major problem for citizens in Malaysia, especially for those who live in Kuala Lumpur. Although some types of property have decreased in housing prices, but the people who stay in Kuala Lumpur are still not afforded to buy the property. Therefore, the research aim is to study the house buyer’s perception on medium cost condominium prices in Kuala Lumpur, know the current trend of the residential property market in Kuala Lumpur and investigate the factors affecting medium cost condominium prices in Kuala Lumpur. We selected the quantitative research method and purposive sampling categorized under non-probability sample to use in this research. To achieve the objectives, the literature review and questionnaire survey were used to attain the research objectives. The literature review is mainly related to the housing prices in Kuala Lumpur obtained from the research articles, books, journals, news, data published by the government and online resources to collect the data to investigate and analyse the general overview of the residential property market in Kuala Lumpur, as well as the factors influence the medium cost condominium prices in Kuala Lumpur. The questionnaire survey was conducted to collect the data from the respondent and the data will be analysed using Cronbach’s Alpha analysis and descriptive analysis. The ranking has been defined as the level of agreed by the respondents on the objectives. The objectives of this research have been achieved and analysed in chapter 4. Objective 1 has been achieved by using the literature review, while objective 2 can be achieved through the questionnaire survey and literature review. Based on the result, the location, household size and gross domestic product are the most important among those others factors to influence the medium cost condominium price in Kuala Lumpur. Objective 3 can be achieved via the questionnaire survey. Objective 3 was using the factors that have been examined in objective 2. Then, the house buyer’s perception on medium cost condominium prices in Kuala Lumpur (objective 3) has been discussed in Section 4.7 of Chapter 4. This research can help the developers to identify factors affecting the prices of medium cost condominiums in Kuala Lumpur, so developers can propose medium cost condominiums at affordable prices for house buyers to reduce the overhang of medium cost condominiums in Kuala Lumpur. Furthermore, this research can serve as a guideline for the government as a benchmark or peak price to prevent prices from being undervalued or overvalued. By understanding this research, house buyers in Kuala Lumpur can buy medium cost condominiums at the right time and in the right place. Through this research, the public can add more housing knowledge and information to understand the factors that affect the prices of medium cost condominiums in Kuala Lumpur. Lastly, the recap of the study, the limitation of this study, recommendations for future studies and a conclusion have been provided