Sains Malaysiana 51(12)(2022): 4161-4173

http://doi.org/10.17576/jsm-2022-5112-23

Factors Affecting Housing Price in Malaysia Using Structural Equation Modeling Approach

(Faktor Mempengaruhi Harga Rumah di Malaysia menggunakan Pendekatan Model Berstruktur Persamaan)

NORANI AMIT^1,3,*, HASIMAH SAPIRI¹ & ZAHAYU MD YUSOF^1,2

¹School of Quantitative Sciences, Universiti Utara Malaysia, 06010 Sintok, Kedah Darul Aman, Malaysia

²Institute of Strategic Industrial Decision Modelling, School of Quantitative Sciences, Universiti Utara Malaysia, 06010 Sintok, Kedah Darul Aman, Malaysia

³Faculty of Computer and Mathematical Sciences, Universiti Teknologi MARA, Cawangan Negeri Sembilan, 73000 Kampus Seremban, Negeri Sembilan, Malaysia

Received: 5 May 2022/Accepted: 6 September 2022

Abstract

House buyers are primarily concerned with house prices, on top of other aspects such as housing preferences, and housing financial. In Malaysia, the problem regarding housing issue is one that is regularly spoken due to sharp rise in housing prices which made that most houses are no longer affordable for most Malaysians. Thus, this study aims to identify the key factors influencing the price of houses in Malaysia. Data was collected by distributing a survey questionnaire to 245 respondents throughout the country. The data was then analyzed using the structural equation modelling (SEM) analysis via the IBM AMOS statistical software. The study instrument was evaluated using the exploratory factor analysis and confirmatory factor analysis techniques. The theoretical model was developed using the SEM technique. The findings derived are hoped to benefit policymakers, developers, urban planners, and contractors in developing strategies for materializing affordable house prices for homebuyers in Malaysia.

Keywords: Factor analysis; homebuyer; housing affordability; housing prices; structural equation modeling

Abstrak

Pembeli rumah amat mementingkan harga rumah selain aspek lain seperti pemilihan perumahan dan kewangan perumahan. Di Malaysia, masalah berkenaan perumahan seringkali diperkatakan berikutan kenaikan mendadak harga rumah yang menyebabkan kebanyakan rumah tidak lagi mampu dimiliki oleh kebanyakan rakyat Malaysia. Justeru, kajian ini bertujuan untuk mengenal pasti faktor utama yang mempengaruhi harga rumah di Malaysia. Data dikumpul dengan mengedarkan borang soal selidik kepada 245 responden di seluruh negara. Data tersebut kemudiannya dianalisis menggunakan analisis pemodelan berstruktur persamaan (SEM) melalui perisian statistik IBM AMOS. Instrumen kajian dinilai menggunakan teknik analisis faktor jelajah dan analisis faktor pengesahan. Model teori telah dibangunkan menggunakan teknik SEM. Penemuan yang diperoleh diharap dapat memberi manfaat kepada penggubal dasar, pemaju, perancang bandar dan kontraktor dalam membangunkan strategi untuk merealisasikan harga rumah mampu milik untuk pembeli rumah di Malaysia.

Kata kunci: Analisis faktor; harga rumah; pembeli rumah; pemodelan berstruktur persamaan; perumahan mampu milik

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^*Corresponding author; email: norani@uitm.edu.my