COMPARATIVE STUDY BETWEEN MALAYSIA AND NIGERIA FORMAL LOW COST HOUSING POLICY ISSUES
Journal Title: Asian Economic and Financial Review - Year 2013, Vol 3, Issue 7
Abstract
The current practice housing policies of Malaysia and Nigeria did not highlight on the affordability of formal low cost houses. There are no laws, sections or guidelines regulating the affairs of formal low cost housing. The current policies did not consider the beneficiaries of the formal low cost housing in their design; the design reflects the western culture which is not tantamount to that of the beneficiaries. It did not conform to their culture, family background and size. The current practice policies of Malaysia and Nigeria did not consider the family issues of the low income earners and did not provide for public participation in their deliberations contrary to the need of the beneficiaries. This study establishes that participation in policy deliberations will make them feel self-worth. The beneficiaries want incentives to improve their earnings. This study shows that formal low cost houses in Batu Pahat, are affordable while those in Bauchi, are not affordable. Formal low cost houses are located in the same neighborhood with medium and high cost houses in Batu Pahat and enjoy all facilities, utilities and services there. The situation is not the same in Bauchi, where formal low cost houses are located separate at the peripheries of the town outside trekking distances which repel beneficiaries because of the awkward location. The residents of the formal low cost houses Batu Pahat, have higher qualification, higher earnings, less number of defendants, while those at Bauchi, have higher number of defendants, lower income, lower qualification. This study further ascertained that the interplay of these three intangible socio economic elements is the major impediment that blocks affordability. The policy makers and the residents submit that these affordability elements should be upheld in other to ensure formal low cost housing possession by the low income earners. This article further ascertained that the intangible socio economic elements play more role than the physical or tangible elements.
Authors and Affiliations
Mohammed Yahaya Ubale| Department of Real Estate Management & Business University Tun Hussein Onn Malaysia, David Martin| Department of Real Estate Management & Business University Tun Hussein Onn Malaysia, Seow Ta Wee| Department of Real Estate Management & Business University Tun Hussein Onn Malaysia
Keywords
Related Articles
- EP ID EP1937
- DOI -
- Views 446
- Downloads 36
USAGE OF DERIVATIVES IN EMERGING MARKETS: THE CASE OF BOSNIA AND HERZEGOVINA
During the last decade, financial derivatives have gained increased attention; they were one of the leading causes of the latest financial crisis. Their primary purpose is to provide instruments for hedging risks linked...
Earnings Management, Board Independence And Audit Fees Considering The Firm's Profitability Level
This study investigates the relation between earnings management, board independence and audit fees considering the firm's profitability level. Two main hypotheses have been designed by theoretical framework, and have be...
FACTORS DETERMINING RESIDENTIAL RENTAL PRICES
Due to the high demand for residential apartments, landlords take undue advantage of tenants and increase rent without adhering to rent regulations. A high proportion of the population in Ghana rents than own homes becau...
APPLICATION OF PROBIT ANALYSIS TO FACTORS AFFECTING SMALL SCALE ENTERPRISES’ DECISION TO TAKE CREDIT: A CASE STUDY OF OYO STATE, NIGERIA
The study assessed the application of porbit analysis to factors affecting small scale enterprises’ decision to take credit: case study of Oyo State, Nigeria. Both questionnaire and interviewed techniques were used for d...
A REGRESSION BASED APPROACH TO CAPTURING THE LEVEL DEPENDENCE IN THE VOLATILITY OF STOCK RETURNS
In this paper, we propose an alternative approach to work with the new covariance estimator Cov Ratio based on daily high-low prices that we had put forth in an earlier study (Lakshmi and Maheswaran, 2016). Using the GAR...