Strategic development of property auctions market in Malaysia

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

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Official URL: https://www.jstor.org/stable/24885081

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 Outdated laws coupled with an unregulated auction environment have generated myriad challenges among which are the presence of syndicates (dummy bidders) and negative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: Strategic development; Property; Auctions market; Malaysia
Subjects: H Social Sciences > HG Finance
T Technology > TH Building construction
Divisions: Faculty of the Built Environment
Depositing User: Ms. Juhaida Abd Rahim
Date Deposited: 28 Sep 2018 01:48
Last Modified: 28 Sep 2018 01:48
URI: http://eprints.um.edu.my/id/eprint/19439

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