Meeting first-time buyers’ housing needs and preferences in greater Kuala Lumpur: Fid-Bau Portal

Meeting first-time buyers’ housing needs and preferences in greater Kuala Lumpur

Tan, Teck-Hong

Highlights ► House price inflation appears to be a significant barrier to increasing the homeownership rate. ► Governments need to provide adequate quality housing for first-time buyers in Greater Kuala Lumpur. ► First-time buyers’ housing needs and preferences are determined.

Abstract High housing prices in Greater Kuala Lumpur have made it difficult for potential first-time homebuyers to own a house. As a result, affordable housing schemes were introduced recently to assist potential homeowners. The Malaysian government has launched many kinds of public low-cost housing schemes; however, many housing projects resulting from these schemes have turned into slums that do not provide a wholesome environment for families. To avoid building more slums and to provide more benefits for young buyers, the goal of this paper is to determine the correct housing attributes required for first-time homebuyers in the urban area. Three hundred questionnaires were distributed to young Malaysians in Greater Kuala Lumpur (KL), and 265 questionnaires were returned. The responses to the questionnaire revealed that accessibility and neighborhood environment play a role in the decision to own. It can also be observed that ecologically friendly homes that embrace sustainability are important considerations for prospective homebuyers.