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ABSTRACT. The Malaysian housing market and associated housing finance system have expanded significantly as a result of rapid urbanisation since the late 1980s. The key aspect of this paper is to analyse the inter-relationship between the housing market and housing finance system in Malaysia. The paper employs Vector Autoregressive approach and Granger Causality test to empirically investigate this inter-relationship. In Malaysia, no housing studies has actually looked into or used this approach to identify the inter-relationship between these two elements. The key findings show that there is a strong inter-relationship between the housing market and housing finance system. The direction of causality shows that there is a bi-directional relationship between the housing market and housing finance system. These inter-relationships provide evidence that sound performance of the sub-markets within the housing finance system is a determinant prerequisite of the robustness of the housing finance system, if a healthy performance of the housing market is to be achieved. KEYWORDS:

Sabah is one of the states in Malaysia has shown remarkable growth in housing industry where its housing sector has thrived owing to growing market and active supply and demand dynamics. However, the rapid increase in housing price has created greater concern among the researchers about the sustainability of the housing sector in this country. The aspect of sustainability has seem been neglected by the industry players. Consequently, it will give impact to the environment which contrasts with the aim of the built environment to create sustainable development. This is because affordable housing is always being associated with cheap and low-quality houses. This research is aim to assess the best area in the state of Sabah to build sustainable affordable housing scheme. The results indicate that area with high utility degree is the best area that conforms to the sustainable housing affordability factors. Likewise, an area with a lower ranking in utility degree can be described as a worst-performing area. The originality of this research has contributed to a real picture of sustainable housing affordability in Malaysia, particularly the state of Sabah.

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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.