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...
| Những tác giả chính: | , , , , |
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| Định dạng: | Bài viết |
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Springer
2014
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| Những chủ đề: |
| _version_ | 1825803533891403776 |
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| author | Wong, Woei Chyuan Lee, Janice Y. M. Daud, Md Nasir Ng, Pooi Leng Chan, Wai Seen |
| author_facet | Wong, Woei Chyuan Lee, Janice Y. M. Daud, Md Nasir Ng, Pooi Leng Chan, Wai Seen |
| author_sort | Wong, Woei Chyuan |
| collection | UUM |
| 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 Outdated laws coupled with an unregulated auction environment have generated myriad challenges among which are the presence of syndicates (dummy bidders) and negative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 | 2024-07-04T05:58:40Z |
| format | Article |
| id | uum-15425 |
| institution | Universiti Utara Malaysia |
| last_indexed | 2024-07-04T05:58:40Z |
| publishDate | 2014 |
| publisher | Springer |
| record_format | eprints |
| spelling | uum-154252016-04-18T08:05:39Z https://repo.uum.edu.my/id/eprint/15425/ Strategic development of property auctions market in Malaysia Wong, Woei Chyuan Lee, Janice Y. M. Daud, Md Nasir Ng, Pooi Leng Chan, Wai Seen HD28 Management. Industrial Management 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. Springer 2014 Article PeerReviewed Wong, Woei Chyuan and Lee, Janice Y. M. and Daud, Md Nasir and Ng, Pooi Leng and Chan, Wai Seen (2014) Strategic development of property auctions market in Malaysia. Journal of Real Estate Literature, 22 (2). 261-278.. ISSN 2201-2796 https://www.questia.com/library/journal/1P3-3580100311/strategic-development-of-property-auctions-market |
| spellingShingle | HD28 Management. Industrial Management Wong, Woei Chyuan Lee, Janice Y. M. Daud, Md Nasir Ng, Pooi Leng Chan, Wai Seen 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 | HD28 Management. Industrial Management |
| work_keys_str_mv | AT wongwoeichyuan strategicdevelopmentofpropertyauctionsmarketinmalaysia AT leejaniceym strategicdevelopmentofpropertyauctionsmarketinmalaysia AT daudmdnasir strategicdevelopmentofpropertyauctionsmarketinmalaysia AT ngpooileng strategicdevelopmentofpropertyauctionsmarketinmalaysia AT chanwaiseen strategicdevelopmentofpropertyauctionsmarketinmalaysia |