Attributes of Housing Mismatch Framework in Urban Areas

Housing industry is constantly faced with various phenomena of the real estate market. The gamble between elements of supply and demand in the housing industry segmentation is shaping the market situation. However, the expected balance between supply and demand is difficult to achieve, even in the long run. Therefore, this study aims to examine the key factors that contribute to the level of demand in a real estate market. Respondents representing buyers of area studies have questioned on their consideration of the factors that might influence their decision in-house purchasing. Three main components such as housing regulation, geographical spatial location, and housing product have been expanded with seven subcomponent and 37 elements. Data were collected through a preliminary survey from sample population at study area of Wangsa Maju, Kuala Lumpur, Malaysia, which experienced with housing mismatch phenomena. Data has been analysed by using SPSS software in generated the mean score for each of element. The results indicate that 18 of the 36 items reported average rating at values more than 3.0. This shows that three main components of the study indeed affect home buyers as well as lead to the level of housing demand in the housing market. Documentation of this aspect in urban areas will make local communities, government, and private institution appreciate and improvise better decision-making for residential development to decrease a gap. Thus, better enhancement in quality of life by the stakeholders will create a strong sense of community identity and belonging to the places.