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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...

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Main Authors: Wong, W.C., Lee, J.Y.M., Daud, M.N., Ng, P.L., Chan, W.S.
Format: Article
Published: American Real Estate Society 2014
Subjects:
HG Finance
TH Building construction
Online Access:http://eprints.um.edu.my/19439/
https://www.jstor.org/stable/24885081
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spelling my.um.eprints.194392018-09-28T01:48:39Z http://eprints.um.edu.my/19439/ Strategic development of property auctions market in Malaysia Wong, W.C. Lee, J.Y.M. Daud, M.N. Ng, P.L. Chan, W.S. HG Finance TH Building construction 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 Outdated laws coupled with an unregulated auction environment have generated myriad challenges among which are the presence of syndicates (dummy bidders) and negative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. American Real Estate Society 2014 Article PeerReviewed 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 https://www.jstor.org/stable/24885081
institution Universiti Malaya
building UM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaya
content_source UM Research Repository
url_provider http://eprints.um.edu.my/
topic HG Finance
TH Building construction
spellingShingle HG Finance
TH Building construction
Wong, W.C.
Lee, J.Y.M.
Daud, M.N.
Ng, P.L.
Chan, W.S.
Strategic development of property auctions market in Malaysia
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.
format Article
author Wong, W.C.
Lee, J.Y.M.
Daud, M.N.
Ng, P.L.
Chan, W.S.
author_facet Wong, W.C.
Lee, J.Y.M.
Daud, M.N.
Ng, P.L.
Chan, W.S.
author_sort Wong, W.C.
title Strategic development of property auctions market in Malaysia
title_short 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_sort strategic development of property auctions market in malaysia
publisher American Real Estate Society
publishDate 2014
url http://eprints.um.edu.my/19439/
https://www.jstor.org/stable/24885081
_version_ 1643690988877643776
score 13.211869

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