<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Generally, housing within the same area tends to share similar structural and locational characteristics as well as being characterized by the same homebuyers’ preferences. This information provides insight on the existence of housing submarkets. Thus, this study aims to identify the existence of housing submarkets in Johor Bahru and Kulai, Malaysia through principal component analysis and cluster analysis. A total of 29 housing attributes were included in the study. The results from the principal component analysis have successfully identified four principal components that represent the basic facility, main infrastructure, less common facility and housing quality characteristics. On the other hand, cluster analysis managed to identify the existence of four housing submarkets in Johor Bahru and Kulai, where three submarkets showed the characteristics of housing quality, whereas one submarket appeared to exhibit the characteristic of main infrastructure. The findings of this study provide valuable information on the existence of four housing submarkets in Johor Bahru and Kulai areas, which will benefit the city governments, real estate developers, mortgage lenders, non-profit organizations, as well as individual homeowners in making critical choices and developing market-appropriate strategies.</p>
</abstract>

Generally, housing within the same area tends to share similar structural and locational characteristics as well as being characterized by the same homebuyers’ preferences. This information provides insight on the existence of housing submarkets. Thus, this study aims to identify the existence of housing submarkets in Johor Bahru and Kulai, Malaysia through principal component analysis and cluster analysis. A total of 29 housing attributes were included in the study. The results from the principal component analysis have successfully identified four principal components that represent the basic facility, main infrastructure, less common facility and housing quality characteristics. On the other hand, cluster analysis managed to identify the existence of four housing submarkets in Johor Bahru and Kulai, where three submarkets showed the characteristics of housing quality, whereas one submarket appeared to exhibit the characteristic of main infrastructure. The findings of this study provide valuable information on the existence of four housing submarkets in Johor Bahru and Kulai areas, which will benefit the city governments, real estate developers, mortgage lenders, non-profit organizations, as well as individual homeowners in making critical choices and developing market-appropriate strategies.

Identifying Housing Submarkets in Johor Bahru and Kulai, Malaysia: A Data-Driven Method

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution 4.0 International License.

Generally, housing within the same area tends to share similar structural and locational characteristics as well as being characterized by the same homebuyers’...

Identifying Housing Submarkets in Johor Bahru and Kulai, Malaysia: A Data-Driven Method

Pubblicato online: 18 giu 2022

Pagine: 1 - 11

DOI: https://doi.org/10.2478/remav-2022-0009

Parole chiave
housing submarkets, home buyers’preferences, principal component analysis, cluster analysis

© 2022 Nur Asyikin Mohd Sairi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Identifying Housing Submarkets in Johor Bahru and Kulai, Malaysia: A Data-Driven Method

Pubblicato online: 18 giu 2022

Pagine: 1 - 11

DOI: https://doi.org/10.2478/remav-2022-0009

Parole chiavehousing submarkets, home buyers’preferences, principal component analysis, cluster analysis

© 2022 Nur Asyikin Mohd Sairi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Parole chiave
housing submarkets, home buyers’preferences, principal component analysis, cluster analysis