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State of the current property market in relation to the property bubble phenomenon in Johor

Tan, Jia Phing and David , Martin (2013) State of the current property market in relation to the property bubble phenomenon in Johor. In: 1st FPTP Postgraduate Seminar 2013, 23 December 2013, Fakulti Pengurusan Teknologi dan Perniagaan, UTHM .

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Abstract

For the past fifteen years, housing property in Malaysia has underwent tremendous price increment. However, once the housing price deviates too much from its fundamental value, it may give rise to problems and even generates subprime crisis. This paper discusses the possible existence of property bubble in Johor and what is the state of the current property market in relation to the property bubble phenomenon in Johor. The property bubble is investigated based on different districts by incorporating the examination of macro-economic indicators with micro-measures, using a comprehensive set of indicators to test the bubbles. The analysis applies to residential property, that is single-storey terrace type and double-storey type. The study is done on three districts in Johor using the Rational Expectional Model and Fama-French Three Factor Model. Generally, the study focuses on the existence of housing bubble that stemmed directly from the housing price and the expected housing price in the study area. In conclusion, the findings of this study strongly suggest that the existence of housing bubbles in the Johor residential property market is getting stronger.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: housing bubble; subprime crisis; residential property; housing price
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD101-1396 Land use
Divisions: Faculty of Technology Management and Business > Department of Real Estate Management
Depositing User: Normajihan Abd. Rahman
Date Deposited: 01 Sep 2014 04:04
Last Modified: 01 Sep 2014 04:04
URI: http://eprints.uthm.edu.my/id/eprint/5804
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