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Strategic development of property auctions market in Malaysia


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

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Abstract

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 Outdated laws coupled with an unregulated auction environment have generated myriad challenges among which are the presence of syndicates (dummy bidders) and negative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.

Item Type: Article
Uncontrolled Keywords: Auctions; Real estate; Initiatives; Malaysia
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: School of Economics, Finance & Banking
Depositing User: Dr. Woei Chyuan Wong
Date Deposited: 15 Sep 2015 06:03
Last Modified: 18 Apr 2016 08:05
URI: http://repo.uum.edu.my/id/eprint/15425

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