Unveiling the Challenges Faced By Malaysian Housing Developers through Government Policy Changes
Despite being receptive to new ideas, Malaysian housing developers must be responsive to the demands imposed upon the industry. One of the external factors that influence the growth of housing development firms is the intervention of government. The role of government in shaping the housing indus...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Sains Malaysia
2015
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| Subjects: | |
| Online Access: | http://eprints.usm.my/41467/1/JCDC_20%282%29_2015-Art._3%2837-52%29.pdf http://eprints.usm.my/41467/ http://web.usm.my/jcdc/vol20_2_2015/JCDC%2020(2)%202015-Art.%203(37-52).pdf |
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| Summary: | Despite being receptive to new ideas, Malaysian housing developers must be
responsive to the demands imposed upon the industry. One of the external factors that
influence the growth of housing development firms is the intervention of government. The
role of government in shaping the housing industry is especially pertinent because most land
matters involve dealing directly with local and state authorities. The regulations imposed by
the government are perceived as imbalanced and serve only to increase the challenges
confronted by housing developers to maintain their survivability. This paper is therefore aimed
at disclosing the related challenges faced by housing developers with respect to current
government issues. Appropriately, 10 Malaysian housing developers were interviewed to
determine the reasons for their success in achieving business sustainability, including eliciting
responses for the myriad of challenges faced. To analyse the findings, a qualitative
approach was used that is based on the content analysis method. All the interviewees
highlighted several challenges that have impeded their progress in the management of the
housing development business. Interestingly, the most notable challenge revealed by the
respondents is related to the vagaries of the government rules and processes. Among the
grievances mentioned by the participants were late approvals, sudden changes of rules,
non-uniform compliances and other similar issues. Hence, there is a serious need for housing
developers and the government to work in tandem, not only to minimise complaints directed
towards the government but also to concertedly embrace changes in terms of policies and
laws. A mutually beneficial wave of innovation is thus advocated, where the vested interests
of both housing developers and house buyers will be protected accordingly. In addition, with
good comprehension of the government procedures, the creation of economic
empowerment and development will be easily realised |
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