Determine and Identify Problems of High-Rise Condominium Overhang in Malaysia

Chong, Bao Xuan (2022) Determine and Identify Problems of High-Rise Condominium Overhang in Malaysia. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Property development, also known as the development of real estate, is the process of developing a higher use value for buildings or land. Property development makes a significant contribution to the Malaysian property industry and economy. However, property development is inherently dangerous, with a range of risks apparent in the process of property development. According to National Property Information Centre (NAPIC), the largest proportion of property overhang was residential. The aim of this research is to analyse the factors that cause property overhang and to recognize the problems of owning a residential unit faced by Malaysian. Thus, effective ways will be determined in order to minimize and resolve the incidence of property overhang in Malaysia. The research approach that used in this study has been carried with primary and secondary data collection. The primary set of data consists of a quantitative and qualitative, quantitative questionnaire survey based on the goals and objectives of this study that was distributed to the Malaysian citizen staying at Selangor Darul Ehsan. The secondary set of data is then from the literature analysis contained in the journal or internet post. For the research findings, despite the Covid-19 pandemic, the property overhang spurred by unaffordability remains a persistent problem in the real estate industry. Moreover, most Malaysian people face difficulties in owning their own residential unit. Therefore, questionnaire survey will be an effective way to find out the reason to minimize and resolve the occurrences of property overhang.