Housing Affordability: to Explore Potential Ways to Improve Housing Affordability Among Millennials in Malaysia

Cheong, Bernard Yeh Jie (2024) Housing Affordability: to Explore Potential Ways to Improve Housing Affordability Among Millennials in Malaysia. Final Year Project (Bachelor), Tunku Abdul Rahman University of Management and Technology.

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Abstract

Malaysia is currently experiencing a severe housing affordability crisis. This issue has a greatest impact to the millennial generation. As they are the most probable house purchaser in the current market. Therefore, it is essential to investigate potential solutions for increasing the affordability of housing for Malaysian millennials. This research study has concentrated on three objectives in order to reach its goal. The research begins with examining the condition of the Malaysian housing market and the reasons for the rise in housing prices. Next, the factors affecting the affordability of housing for Malaysian millennials has also investigated. The research also investigates ways to increase the affordability of housing for Malaysian millennials. For the purpose of achieving the research objectives, the literature review and quantitative research method are conducted. The population of the study was millennials who reside or work in Penang, Kuala Lumpur, Selangor, and Johor, as these areas are severely impacted by the housing affordability issue. A questionnaire survey has created and emailed to respondents. Then, it was sampled using a simple random sampling method under probability sampling. It is to ensure that all millennials who reside or work in the designated areas have an equal opportunity to participate in the study. This study's sample consist of 118 participants. The data collected from respondents has analysed using Statistical Package for the Social Sciences (SPSS). Descriptive analysis is selected for the data analysis such as the frequency distributions and measures of central tendency. In the end, the findings could function as references for the Malaysian public.