N. Adnan, Zarith ‘Aqilah Mahadzir, H. Hashim, Zaharah Mohd Yusoff, A. R. Abdul Rasam, E. S. Mokhtar
The relationship between crime and the built environment has been extensively investigated in the field of urban design and planning. Gated housing area refers to a physical personal area with limited access and is governed by special rules, restricting or controlling access to and outside of the homeowner (via electronic devices or with the safety of workers). Therefore, gated housing communities are assumed to be safer than non-gated housing communities in relation to crime occurrence with limited road point accessibility which is deemed reliable to prevent undesirable property crime. The purpose of this research is to analyse the property crime incidents in gated and non-gated housing communities of Subang Jaya, Selangor with regards to road accessibility points. Three years of crime surveillance data from 2014 to 2016 was obtained from the Royal Malaysian Police Department. Findings indicated that crime incident is less at the gated community as compared to non-gated with the most of the hot spot area are located at the multiple road points access such as Subang Perdana Good Year Court 7 and few USJ, Subang Jaya housing areas and also the residential area which located nearest to the above stated locations as opposed to the gated housing community.
犯罪与建筑环境之间的关系在城市设计和规划领域得到了广泛的研究。门控住宅区域是指限制进入的物理个人区域，并由特殊规则管理，限制或控制房主进出(通过电子设备或工人的安全)。因此，由于道路点的可达性有限，人们认为封闭式住房社区在犯罪发生方面比非封闭式住房社区更安全，这被认为是可靠的，可以防止不良财产犯罪。本研究的目的是分析雪兰莪州Subang Jaya的封闭式和非封闭式住房社区的财产犯罪事件，涉及道路可达性点。从2014年到2016年的三年犯罪监控数据是从马来西亚皇家警察局获得的。调查结果表明，与非封闭式社区相比，封闭式社区的犯罪事件较少，大多数热点区域位于多个道路点的入口处，如Subang Perdana Good Year Court 7和少数USJ, Subang Jaya住宅区以及离上述地点最近的住宅区，而不是封闭式住房社区。
{"title":"ROAD ACCESSIBILITY AND SAFETY ANALYSIS IN GATED AND NON-GATED HOUSING COMMUNITIES","authors":"N. Adnan, Zarith ‘Aqilah Mahadzir, H. Hashim, Zaharah Mohd Yusoff, A. R. Abdul Rasam, E. S. Mokhtar","doi":"10.21837/pm.v21i28.1318","DOIUrl":"https://doi.org/10.21837/pm.v21i28.1318","url":null,"abstract":"The relationship between crime and the built environment has been extensively investigated in the field of urban design and planning. Gated housing area refers to a physical personal area with limited access and is governed by special rules, restricting or controlling access to and outside of the homeowner (via electronic devices or with the safety of workers). Therefore, gated housing communities are assumed to be safer than non-gated housing communities in relation to crime occurrence with limited road point accessibility which is deemed reliable to prevent undesirable property crime. The purpose of this research is to analyse the property crime incidents in gated and non-gated housing communities of Subang Jaya, Selangor with regards to road accessibility points. Three years of crime surveillance data from 2014 to 2016 was obtained from the Royal Malaysian Police Department. Findings indicated that crime incident is less at the gated community as compared to non-gated with the most of the hot spot area are located at the multiple road points access such as Subang Perdana Good Year Court 7 and few USJ, Subang Jaya housing areas and also the residential area which located nearest to the above stated locations as opposed to the gated housing community.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81439096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kholim Sahray, A. S. Sukereman, S. H. Rosman, Nur Hanis Jaafar
COVID-19 pandemic impact has accelerated the real estate industry to adopt technology evolution quickly. Due to the normalisation changes from the pandemic, all the physical real estate selling processes, including housing tours, sales, and purchase agreements, could not be effectively done as before. In this situation, Virtual Reality (VR) has become a prominent approach for real estate agents to improve their marketing strategies. This prospective study was designed to investigate the potential activities needed in VR implementation and to explore the importance of VR in influencing real estate marketing. Primary data was gathered from 60 real estate respondents using purposive sampling and descriptively analysed using SPSS software. The findings indicate that VR tours of the property, 360-degree visualisations, and visualisations of room furniture are the most potential activities needed in VR implementation. While VR is important because it indicates detailed information about the property, provides high-quality photos, and is a good investment opportunity. Overall, this study provides insights into how VR technology can help realtors survive in the evolving real estate industry.
{"title":"THE IMPLEMENTATION OF VIRTUAL REALITY (VR) TECHNOLOGY IN REAL ESTATE INDUSTRY","authors":"Kholim Sahray, A. S. Sukereman, S. H. Rosman, Nur Hanis Jaafar","doi":"10.21837/pm.v21i27.1299","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1299","url":null,"abstract":"COVID-19 pandemic impact has accelerated the real estate industry to adopt technology evolution quickly. Due to the normalisation changes from the pandemic, all the physical real estate selling processes, including housing tours, sales, and purchase agreements, could not be effectively done as before. In this situation, Virtual Reality (VR) has become a prominent approach for real estate agents to improve their marketing strategies. This prospective study was designed to investigate the potential activities needed in VR implementation and to explore the importance of VR in influencing real estate marketing. Primary data was gathered from 60 real estate respondents using purposive sampling and descriptively analysed using SPSS software. The findings indicate that VR tours of the property, 360-degree visualisations, and visualisations of room furniture are the most potential activities needed in VR implementation. While VR is important because it indicates detailed information about the property, provides high-quality photos, and is a good investment opportunity. Overall, this study provides insights into how VR technology can help realtors survive in the evolving real estate industry.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"554 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84924894","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The advantage of secondary mortgage market establishment to decrease housing cost, theoretically, had been mentioned frequently in domestic and international research. However, research on this matter in Indonesia is still limited to narrative descriptive. This research engages sequential explanatory design by utilizing empirical evidence from financial perspective to analyse the impact of securitization to the yield spread premium from monthly data ranging from June 2017-April 2021. In quantitative phase, this research found that either securitization volume or the launch of new series of asset backed securities (ABS) significantly affects mortgage rate, contrary to aggregate mortgage volume, prepayment risk, and yield curve risk. In the qualitative phase, it is explored that the reason of securitization’s stagnation is market unreadiness.
{"title":"HAS SECONDARY MORTGAGE MARKET PROMOTE HOUSE AFFORDABILITY? EVIDENCE FROM INDONESIA","authors":"Mega Dipta Praditya","doi":"10.21837/pm.v21i27.1283","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1283","url":null,"abstract":"The advantage of secondary mortgage market establishment to decrease housing cost, theoretically, had been mentioned frequently in domestic and international research. However, research on this matter in Indonesia is still limited to narrative descriptive. This research engages sequential explanatory design by utilizing empirical evidence from financial perspective to analyse the impact of securitization to the yield spread premium from monthly data ranging from June 2017-April 2021. In quantitative phase, this research found that either securitization volume or the launch of new series of asset backed securities (ABS) significantly affects mortgage rate, contrary to aggregate mortgage volume, prepayment risk, and yield curve risk. In the qualitative phase, it is explored that the reason of securitization’s stagnation is market unreadiness.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90556643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Roby Syaiful Ubed, A. Wirawan, Ambang Aries Yudanto
The aim of this study is to assess the possibility of the village asset performance measurement implementation that is yet available in Indonesia. The assessment is focused on the regulation perspective and readiness of the village. This study uses qualitative approach that examines the condition of natural objects where the author acts as a key instrument that digs up data, examines data, and interprets data. The research samples were taken by applying purposive sampling and snowball sampling techniques. The results show that there are at least two challenges and opportunities of asset performance measurement implementations. Firstly, the opportunity for implementation comes from the existing Village Law that enables the government to make lower regulations as a basis to implement asset performance measurement. In addition, the complexity of village natures and autonomies should be adopted by the regulation created by the government. Secondly, village administration readiness is also an implementation challenge. Other challenges include village leadership issues, land problems, professionalism, and human resources. This study was conducted in the Indonesian context. Further research is required to create an experiment of asset performance measurement experiment so that the hurdles of the implementation can be furtherly analyzed. These findings are likely to have significant implications for both local and central governments to create policies and regulations related to asset performance measurement implementation.
{"title":"THE REGULATORS’ PERSPECTIVES AND CHALLENGES IN IMPLEMENTING VILLAGE ASSET PERFORMANCE MEASUREMENT","authors":"Roby Syaiful Ubed, A. Wirawan, Ambang Aries Yudanto","doi":"10.21837/pm.v21i27.1310","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1310","url":null,"abstract":"The aim of this study is to assess the possibility of the village asset performance measurement implementation that is yet available in Indonesia. The assessment is focused on the regulation perspective and readiness of the village. This study uses qualitative approach that examines the condition of natural objects where the author acts as a key instrument that digs up data, examines data, and interprets data. The research samples were taken by applying purposive sampling and snowball sampling techniques. The results show that there are at least two challenges and opportunities of asset performance measurement implementations. Firstly, the opportunity for implementation comes from the existing Village Law that enables the government to make lower regulations as a basis to implement asset performance measurement. In addition, the complexity of village natures and autonomies should be adopted by the regulation created by the government. Secondly, village administration readiness is also an implementation challenge. Other challenges include village leadership issues, land problems, professionalism, and human resources. This study was conducted in the Indonesian context. Further research is required to create an experiment of asset performance measurement experiment so that the hurdles of the implementation can be furtherly analyzed. These findings are likely to have significant implications for both local and central governments to create policies and regulations related to asset performance measurement implementation.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74377326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Housing is a basic human need as explained in the Maslow hierarchy needs. Having a house is a very important entity in ensuring a sense of security for each individual and family. Deciding on buying a house is a crucial decision since housing expenses involved a large amount of cost in individual monthly expenses. Furthermore, the homeownership rate in Malaysia as reported by the Department of Statistics Malaysia (DOSM) in 2019 didn’t increase significantly. Thus, the government and house developers need to identify the important factors that influence the house buying decision-making to increase the homeownership rate in Malaysia. This study investigates the factors influencing housing buying decisions and the difference in factors influencing different income groups in Sepang, Selangor. This study measures the internal factors and external factors influencing house-buying decisions. The internal factors measure the income, stage of life cycle, employment and education subfactors. The external factors measure the financial and economic condition, house price, location, neighbourhood, house type and design and also government housing incentives. A mixed method was applied in this study by interviewing real estate experts and also a survey of 184 respondents in the case study area. Using transcribe method and analysing of the survey data with descriptive and inferential analyses to study the influencing factors. The real estate expert and respondents agreed all the factors were influencing house buying decisions except for education. The importance of the factors is also different among the income groups. For internal factors, all income groups agree that income is the most influential factor followed by employment, stage of life cycle and education. The importance of external factors is different among the groups.
{"title":"FACTORS INFLUENCING HOUSE BUYER’S DECISION IN MALAYSIA. CASE STUDY: SEPANG, SELANGOR","authors":"Fatimah Zulkifli, Hafiszah Ismail","doi":"10.21837/pm.v21i27.1293","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1293","url":null,"abstract":"Housing is a basic human need as explained in the Maslow hierarchy needs. Having a house is a very important entity in ensuring a sense of security for each individual and family. Deciding on buying a house is a crucial decision since housing expenses involved a large amount of cost in individual monthly expenses. Furthermore, the homeownership rate in Malaysia as reported by the Department of Statistics Malaysia (DOSM) in 2019 didn’t increase significantly. Thus, the government and house developers need to identify the important factors that influence the house buying decision-making to increase the homeownership rate in Malaysia. This study investigates the factors influencing housing buying decisions and the difference in factors influencing different income groups in Sepang, Selangor. This study measures the internal factors and external factors influencing house-buying decisions. The internal factors measure the income, stage of life cycle, employment and education subfactors. The external factors measure the financial and economic condition, house price, location, neighbourhood, house type and design and also government housing incentives. A mixed method was applied in this study by interviewing real estate experts and also a survey of 184 respondents in the case study area. Using transcribe method and analysing of the survey data with descriptive and inferential analyses to study the influencing factors. The real estate expert and respondents agreed all the factors were influencing house buying decisions except for education. The importance of the factors is also different among the income groups. For internal factors, all income groups agree that income is the most influential factor followed by employment, stage of life cycle and education. The importance of external factors is different among the groups.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"114 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80786467","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Siti Uzairiah Mohd Tobi, Nurul Huda Zakaria, K. A. Razak, Rozaimi Che Hassan, Che Siti Noor Koh Poh Lee @ Che Mamat, R. Rahmat
This study is aimed to provide an approach for measuring the resilience of office buildings against flood in Malaysia. Three states were chosen namely Kelantan, Pahang, and Johor as they had been badly affected by the major flood in 2014. From the three states, nine worst-hit districts had been identified, which are Kota Bharu, Pasir Mas, Kuala Krai in Kelantan, Kuantan, Temerloh, and Pekan in Pahang, along with Batu Pahat, Kota Tinggi, and Mersing in Johor. The Disaster Resilience Scorecard for Industrial and Commercial Building is adapted to construct the scorecard. The essential elements were examined with regards to the office buildings within the scope of flood in Malaysia. This study used Survey questionnaire as a method in constructing the scorecard which was distributed among the managers or person in charge of the office buildings management within the study areas. The results from the survey questionnaire reflected the significance of every component in the essentials, thus relevant to be included in the final scorecard.
{"title":"DISASTER RESILIENCE SCORECARD FOR OFFICE BUILDING IN MALAYSIA TOWARDS REDUCING FLOOD RISKS","authors":"Siti Uzairiah Mohd Tobi, Nurul Huda Zakaria, K. A. Razak, Rozaimi Che Hassan, Che Siti Noor Koh Poh Lee @ Che Mamat, R. Rahmat","doi":"10.21837/pm.v21i27.1303","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1303","url":null,"abstract":"This study is aimed to provide an approach for measuring the resilience of office buildings against flood in Malaysia. Three states were chosen namely Kelantan, Pahang, and Johor as they had been badly affected by the major flood in 2014. From the three states, nine worst-hit districts had been identified, which are Kota Bharu, Pasir Mas, Kuala Krai in Kelantan, Kuantan, Temerloh, and Pekan in Pahang, along with Batu Pahat, Kota Tinggi, and Mersing in Johor. The Disaster Resilience Scorecard for Industrial and Commercial Building is adapted to construct the scorecard. The essential elements were examined with regards to the office buildings within the scope of flood in Malaysia. This study used Survey questionnaire as a method in constructing the scorecard which was distributed among the managers or person in charge of the office buildings management within the study areas. The results from the survey questionnaire reflected the significance of every component in the essentials, thus relevant to be included in the final scorecard.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88659245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Leasing is a state-owned assets utilization scheme that needs to be optimize because of its easy to find objects and large potential for non-tax revenue. In the city of Yogyakarta, the economy grows above the national average, this is supported by the mobility of tourists, overseas students, and businessman. The characteristics of the regional economy are suitable for the optimization of state-owned assets through leasing scheme in the form of lodging room. The author tries to develop a state-owned assets leasing price forecasting model for lodging room using an Artificial Neural Network to capture the potential state revenue. By using market data for lodging room rental from the OYO website, author create a model architecture with the backpropagation algorithm. Analysis results of this study indicate that the obtained network model achieves an accuracy of 97.5%. There are 25 state-owned assets buildings that can be projected as objects of lodging space rental utilization with a predicted rental value of IDR 108,570.00 to IDR 122,669.00 per day.
{"title":"IMPLEMENTATION OF ARTIFICIAL NEURAL NETWORK FOR STATE – OWNED ASSETS FORECASTING OF ROOM RENTAL PRICES IN INDONESIA","authors":"Yusrina Lathifah, Tanda Setiya, Roby Syaiful Ubed","doi":"10.21837/pm.v21i27.1286","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1286","url":null,"abstract":"Leasing is a state-owned assets utilization scheme that needs to be optimize because of its easy to find objects and large potential for non-tax revenue. In the city of Yogyakarta, the economy grows above the national average, this is supported by the mobility of tourists, overseas students, and businessman. The characteristics of the regional economy are suitable for the optimization of state-owned assets through leasing scheme in the form of lodging room. The author tries to develop a state-owned assets leasing price forecasting model for lodging room using an Artificial Neural Network to capture the potential state revenue. By using market data for lodging room rental from the OYO website, author create a model architecture with the backpropagation algorithm. Analysis results of this study indicate that the obtained network model achieves an accuracy of 97.5%. There are 25 state-owned assets buildings that can be projected as objects of lodging space rental utilization with a predicted rental value of IDR 108,570.00 to IDR 122,669.00 per day.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81276347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Valuers model market behaviour to estimate market value in property valuation. This requires a sufficient number of arm’s length transaction price as comparables. In the Indonesian context, this proves to be difficult given the lack of market transparency. Thus, valuers often rely on asking price in their analysis. This may affect the accuracy of their value estimate as asking price does not represent property market. Asking price needs to be adjusted to arm’s-length transaction better. This research seeks to study the magnitude of such adjustment. For this purpose, asking price and their corresponding transaction price of 331 properties in Jakarta were analysed. A questionnaire was also administered to capture the adjustment commonly used by valuation practitioners. The data shows that on average, asking price is 6% higher than its transaction price with no significant differences across areas in Jakarta. This is far below the 14% average adjustment used by valuers in their practice.
{"title":"DATA-TYPE ADJUSTMENT FOR RESIDENTIAL PROPERTY VALUATION IN JAKARTA: AN EXPLORATORY STUDY","authors":"Edy Riyanto, Eri Wahyudi","doi":"10.21837/pm.v21i27.1281","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1281","url":null,"abstract":"Valuers model market behaviour to estimate market value in property valuation. This requires a sufficient number of arm’s length transaction price as comparables. In the Indonesian context, this proves to be difficult given the lack of market transparency. Thus, valuers often rely on asking price in their analysis. This may affect the accuracy of their value estimate as asking price does not represent property market. Asking price needs to be adjusted to arm’s-length transaction better. This research seeks to study the magnitude of such adjustment. For this purpose, asking price and their corresponding transaction price of 331 properties in Jakarta were analysed. A questionnaire was also administered to capture the adjustment commonly used by valuation practitioners. The data shows that on average, asking price is 6% higher than its transaction price with no significant differences across areas in Jakarta. This is far below the 14% average adjustment used by valuers in their practice.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"200 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72756772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An assessment bias happens when an assessed property signifies intolerable proportionate between the assessed and market values; reflecting its uniformity within the valuation list and possessing inequity across the group of properties defined by the value. To correct the assessment bias, local government usually revaluates its valuation list. While most other developed countries perform the revaluation whenever the assessment’s performance is intolerable, the Malaysian existing law urges the revaluation to be as a quinquennial event. Globally, local assessors use the standard ratio studies promulgated by the International Association of Assessing Officers (IAAO) to measure and evaluate the severity of the assessment bias. Adopting the IAAO standard, this research had performed the ratio studies in Hang Tuah Jaya Municipality for the fiscal year of 2017. The research had revealed a significant assessment bias between the lower-value and higher-value properties and other significant property feature that associated with the assessment bias.
{"title":"ADDRESSING THE ASSESSMENT BIAS IN THE MALAYSIAN LOCAL PROPERTY TAX ASSESSMENT","authors":"Ezwan Bin-Bustamin, A. Alias, R. Ahmad","doi":"10.21837/pm.v21i27.1287","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1287","url":null,"abstract":"An assessment bias happens when an assessed property signifies intolerable proportionate between the assessed and market values; reflecting its uniformity within the valuation list and possessing inequity across the group of properties defined by the value. To correct the assessment bias, local government usually revaluates its valuation list. While most other developed countries perform the revaluation whenever the assessment’s performance is intolerable, the Malaysian existing law urges the revaluation to be as a quinquennial event. Globally, local assessors use the standard ratio studies promulgated by the International Association of Assessing Officers (IAAO) to measure and evaluate the severity of the assessment bias. Adopting the IAAO standard, this research had performed the ratio studies in Hang Tuah Jaya Municipality for the fiscal year of 2017. The research had revealed a significant assessment bias between the lower-value and higher-value properties and other significant property feature that associated with the assessment bias.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"64 1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89838305","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hamdi Abdul Hamid, N. Darwin, Masfaliza Mohsen, Norhidayah Md. Yunus, A. Ismail, Mohd Farid Mohd Ariff, Z. Majid
The coastal area hosts significant economic activity with some of the highest property values, which the government and private investors aim to maintain and secure their interests. Yet, this area presented a growing risk to coastal properties' value because the land and structural attributes are vulnerable to erosion. Few empirical studies have included erosion rate besides the land attribute and reclamation in analysing its impact on the value of coastal land, especially in Malaysia. Hence, this study aims to derive a coastal erosion formula for valuing the coastal land values in Malaysia. Taman Alai Perdana (Crystal Bay), Melaka, was selected as a case study area for investigating formula derivation. Based on the formula derivation, the findings have determined that significant property values were affected by erosion in the study area. Using property One (1) in Crystal Bay Alai, Melaka, as an example, with a land area of 632m2, it was valued at RM163286.26 or RM236.81/m2 before formula application. Then, by applying the formula for the same property, considering the identified area erosion rate of -1.41m required a reclamation width of 2.5m to rectify the erosion. So, a value of RM163,286.26 with a difference of RM13,625.00 was determined. Hence, the study has determined reclamation and erosion rate should be included in the coastal land valuation.
{"title":"A COASTAL EROSION DERIVATION FORMULA FOR VALUING THE COASTAL LAND VALUES IN MALAYSIA","authors":"Hamdi Abdul Hamid, N. Darwin, Masfaliza Mohsen, Norhidayah Md. Yunus, A. Ismail, Mohd Farid Mohd Ariff, Z. Majid","doi":"10.21837/pm.v21i27.1292","DOIUrl":"https://doi.org/10.21837/pm.v21i27.1292","url":null,"abstract":"The coastal area hosts significant economic activity with some of the highest property values, which the government and private investors aim to maintain and secure their interests. Yet, this area presented a growing risk to coastal properties' value because the land and structural attributes are vulnerable to erosion. Few empirical studies have included erosion rate besides the land attribute and reclamation in analysing its impact on the value of coastal land, especially in Malaysia. Hence, this study aims to derive a coastal erosion formula for valuing the coastal land values in Malaysia. Taman Alai Perdana (Crystal Bay), Melaka, was selected as a case study area for investigating formula derivation. Based on the formula derivation, the findings have determined that significant property values were affected by erosion in the study area. Using property One (1) in Crystal Bay Alai, Melaka, as an example, with a land area of 632m2, it was valued at RM163286.26 or RM236.81/m2 before formula application. Then, by applying the formula for the same property, considering the identified area erosion rate of -1.41m required a reclamation width of 2.5m to rectify the erosion. So, a value of RM163,286.26 with a difference of RM13,625.00 was determined. Hence, the study has determined reclamation and erosion rate should be included in the coastal land valuation.","PeriodicalId":38852,"journal":{"name":"Planning Malaysia","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85171216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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