Strategic development of property auctions market in Malaysia
Despite its existence in the property market scene for over a century, little is known about the property auction market in Malaysia. We analyze the types, size, occurrence, and performance of property auctions in Malaysia. In comparison to mature markets such as Australia and New Zealand, the aucti...
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| Format: | Article |
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American Real Estate Society
2014
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| _version_ | 1796960682319544320 |
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| author | Wong, W.C. Lee, J.Y.M. Daud, M.N. Ng, P.L. Chan, W.S. |
| author_facet | Wong, W.C. Lee, J.Y.M. Daud, M.N. Ng, P.L. Chan, W.S. |
| author_sort | Wong, W.C. |
| collection | UM |
| description | Despite its existence in the property market scene for over a century, little is known about the property auction market in Malaysia. We analyze the types, size, occurrence, and performance of property auctions in Malaysia. In comparison to mature markets such as Australia and New Zealand, the auction market in Malaysia is relatively small (0.03% of total property sales) and dominated by distress or foreclosure sales. Outdated laws coupled with an unregulated auction environment have generated myriad challenges among which are the presence of syndicates (dummy bidders) and negative stigma associated with auctions. We highlight initiatives that could be taken by policymakers to revitalize the property auction market in Malaysia. |
| first_indexed | 2024-03-06T05:48:17Z |
| format | Article |
| id | um.eprints-19439 |
| institution | Universiti Malaya |
| last_indexed | 2024-03-06T05:48:17Z |
| publishDate | 2014 |
| publisher | American Real Estate Society |
| record_format | dspace |
| spelling | um.eprints-194392018-09-28T01:48:39Z http://eprints.um.edu.my/19439/ Strategic development of property auctions market in Malaysia Wong, W.C. Lee, J.Y.M. Daud, M.N. Ng, P.L. Chan, W.S. HG Finance TH Building construction Despite its existence in the property market scene for over a century, little is known about the property auction market in Malaysia. We analyze the types, size, occurrence, and performance of property auctions in Malaysia. In comparison to mature markets such as Australia and New Zealand, the auction market in Malaysia is relatively small (0.03% of total property sales) and dominated by distress or foreclosure sales. Outdated laws coupled with an unregulated auction environment have generated myriad challenges among which are the presence of syndicates (dummy bidders) and negative stigma associated with auctions. We highlight initiatives that could be taken by policymakers to revitalize the property auction market in Malaysia. American Real Estate Society 2014 Article PeerReviewed Wong, W.C. and Lee, J.Y.M. and Daud, M.N. and Ng, P.L. and Chan, W.S. (2014) Strategic development of property auctions market in Malaysia. Journal of Real Estate Literature, 22 (2). pp. 261-278. ISSN 0927-7544, https://www.jstor.org/stable/24885081 |
| spellingShingle | HG Finance TH Building construction Wong, W.C. Lee, J.Y.M. Daud, M.N. Ng, P.L. Chan, W.S. Strategic development of property auctions market in Malaysia |
| title | Strategic development of property auctions market in Malaysia |
| title_full | Strategic development of property auctions market in Malaysia |
| title_fullStr | Strategic development of property auctions market in Malaysia |
| title_full_unstemmed | Strategic development of property auctions market in Malaysia |
| title_short | Strategic development of property auctions market in Malaysia |
| title_sort | strategic development of property auctions market in malaysia |
| topic | HG Finance TH Building construction |
| work_keys_str_mv | AT wongwc strategicdevelopmentofpropertyauctionsmarketinmalaysia AT leejym strategicdevelopmentofpropertyauctionsmarketinmalaysia AT daudmn strategicdevelopmentofpropertyauctionsmarketinmalaysia AT ngpl strategicdevelopmentofpropertyauctionsmarketinmalaysia AT chanws strategicdevelopmentofpropertyauctionsmarketinmalaysia |