Inter-relationship between the housing market and housing finance system: evidence from Malaysia
The Malaysian housing market and associated housing finance system have expanded significantly as a result of rapid urbanisation since the late 1980s. The key aspect of this paper is to analyse the inter-relationship between the housing market and housing finance system in Malaysia. The paper employ...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2014-06-01
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| Series: | International Journal of Strategic Property Management |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/IJSPM/article/view/3454 |
| _version_ | 1818879030690054144 |
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| author | Rosli Said Alaistair Adair Stanley McGreal Rohayu Majid |
| author_facet | Rosli Said Alaistair Adair Stanley McGreal Rohayu Majid |
| author_sort | Rosli Said |
| collection | DOAJ |
| description | The Malaysian housing market and associated housing finance system have expanded significantly as a result of rapid urbanisation since the late 1980s. The key aspect of this paper is to analyse the inter-relationship between the housing market and housing finance system in Malaysia. The paper employs Vector Autoregressive approach and Granger Causality test to empirically investigate this inter-relationship. In Malaysia, no housing studies has actually looked into or used this approach to identify the inter-relationship between these two elements. The key findings show that there is a strong inter-relationship between the housing market and housing finance system. The direction of causality shows that there is a bi-directional relationship between the housing market and housing finance system. These inter-relationships provide evidence that sound performance of the sub-markets within the housing finance system is a determinant prerequisite of the robustness of the housing finance system, if a healthy performance of the housing market is to be achieved. |
| first_indexed | 2024-12-19T14:23:36Z |
| format | Article |
| id | doaj.art-c7e2dea0d2dc4c3999d76973fa2f8fec |
| institution | Directory Open Access Journal |
| issn | 1648-715X 1648-9179 |
| language | English |
| last_indexed | 2024-12-19T14:23:36Z |
| publishDate | 2014-06-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | International Journal of Strategic Property Management |
| spelling | doaj.art-c7e2dea0d2dc4c3999d76973fa2f8fec2022-12-21T20:17:42ZengVilnius Gediminas Technical UniversityInternational Journal of Strategic Property Management1648-715X1648-91792014-06-0118210.3846/1648715X.2014.912691Inter-relationship between the housing market and housing finance system: evidence from MalaysiaRosli Said0Alaistair Adair1Stanley McGreal2Rohayu Majid3Department of Estate Management, Faculty of the Built Environment, University of Malaya, 50603 Kuala Lumpur, MalaysiaSchool of the Built Environment, University of Ulster, Jordanstown campus, Shore Road, Newtownabbey, Co. Antrim, BT37 0QB, United KingdomSchool of the Built Environment, University of Ulster, Jordanstown campus, Shore Road, Newtownabbey, Co. Antrim, BT37 0QB, United KingdomDepartment of Estate Management, Faculty of Architecture, Planning & Surveying, University of Technology Mara, 40450 Shah Alam, Selangor, MalaysiaThe Malaysian housing market and associated housing finance system have expanded significantly as a result of rapid urbanisation since the late 1980s. The key aspect of this paper is to analyse the inter-relationship between the housing market and housing finance system in Malaysia. The paper employs Vector Autoregressive approach and Granger Causality test to empirically investigate this inter-relationship. In Malaysia, no housing studies has actually looked into or used this approach to identify the inter-relationship between these two elements. The key findings show that there is a strong inter-relationship between the housing market and housing finance system. The direction of causality shows that there is a bi-directional relationship between the housing market and housing finance system. These inter-relationships provide evidence that sound performance of the sub-markets within the housing finance system is a determinant prerequisite of the robustness of the housing finance system, if a healthy performance of the housing market is to be achieved.https://journals.vgtu.lt/index.php/IJSPM/article/view/3454Housing marketHousing financeMortgage-backedVector autoregressiveCausality |
| spellingShingle | Rosli Said Alaistair Adair Stanley McGreal Rohayu Majid Inter-relationship between the housing market and housing finance system: evidence from Malaysia International Journal of Strategic Property Management Housing market Housing finance Mortgage-backed Vector autoregressive Causality |
| title | Inter-relationship between the housing market and housing finance system: evidence from Malaysia |
| title_full | Inter-relationship between the housing market and housing finance system: evidence from Malaysia |
| title_fullStr | Inter-relationship between the housing market and housing finance system: evidence from Malaysia |
| title_full_unstemmed | Inter-relationship between the housing market and housing finance system: evidence from Malaysia |
| title_short | Inter-relationship between the housing market and housing finance system: evidence from Malaysia |
| title_sort | inter relationship between the housing market and housing finance system evidence from malaysia |
| topic | Housing market Housing finance Mortgage-backed Vector autoregressive Causality |
| url | https://journals.vgtu.lt/index.php/IJSPM/article/view/3454 |
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