Property Stigma and Overhang Units: SEM-PLS Analysis of Clio2 Residence, Putrajaya
Article Sidebar
Main Article Content
Abstract
Property stigma encompasses characteristics, features, social values, or events related to land and buildings that generate negative perceptions of a property or neighborhood. This stigma significantly contributes to the overhang of residential units in Malaysia. This study aims to develop a Partial Least Squares Structural Equation Modeling (SEM-PLS) model to analyze the impact of stigmatized property dimensions on Clio2 Residence, an overhang strata residential scheme in Putrajaya. The findings indicate that both external and internal stigmas are significant factors leading to unsold property units in Clio2 Residence.
Article Details
License
Copyright (c) 2024 Norulelin Huri , Zarita Ahmad Baharum , Ting Kien Hwa, Graeme Newell
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
References
Ab Rahim, N., Adzhar, S. M., Basrah, N., Ab Majid, R., & Mustafar, S. (2019). Factors lead to overhang in affordable housing: A content analysis in qualitative approach. In IOP Conference Series: Earth and Environmental Science (Vol. 385, No. 1, p. 012073). IOP Publishing.
Adzhar, S. M., Rahim, N. A., Basrah, N., Majid, R. A., & Mustafar, S. (2021, November). Overview on built environment planning: Residential overhang factors in malaysia affordable housing. In IOP Conference Series: Earth and Environmental Science (Vol. 881, No. 1, p. 012018). IOP Publishing.
Bell, R. (2016). Real Estate Damages (3rd ed.). Appraisal Institute.
Callanan, J., & Eves, C. (2015). Removal of stigma: impact on property values. In Proceedings of the 21st Pacific Rim Real Estate Society Conference 2015 (pp. 1-11). Pacific Rim Real Estate Society.
Cheng, C. T., & Ling, G. H. T. (2023). Examining key macroeconomic determinants of serviced apartments price index: the case of Kuala Lumpur, Malaysia. International Journal of Housing Markets and Analysis, (ahead-of-print).
Clair, M. (2018). Stigma. Core concepts in sociology.
Gogia, E. H., Shao, Z., Khan, K., Rehman, M. Z., Haddad, H., & Al-Ramahi, N. M. (2024). “Exploring the relationship of organizational virtuousness, citizenship behavior, job performance, and combatting ostracism” through structural equational modeling. BMC psychology, 12(1), 384.
Gourley, P. (2016). Social stigma and asset value. Southern Economic Journal, 85(3), 919-938.
Hair, J., Hult, G. T. M., Ringle, C., & Sarstedt, M. (2017). A primer on partial least squares structural equation modeling (PLS-SEM) (Second). California: SAGE Publishing.
Hajnal, I. (2017). Evaluation of stigmatized properties. Organization, technology & management in construction: an international journal, 9(1), 1615-1626.
Horgan, M. (2020). Housing stigmatization: A general theory. Social Inclusion, 8(1), 8-19.
Ibrahim, N. L., & Maimun, N. H. A. (2022). Stigma And Its Effects On Property Marketability: A Systematic Literature Review. International Journal of Accounting, 7(39), 78-86.
Jasimin, T. H., & Ali, H. M. (2015). Valuation of Green Commercial Office Building: A Preliminary Study of Malaysian Valuers. Insight. International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering, 9(8), 1156–1161.
Kasim, R., & Tey, C. S. (2022). The factors for residential properties overhang in Johor. Research in Management of Technology and Business, 3(1), 809-824.
Kono, S., & Sato, M. (2023). The potentials of partial least squares structural equation modeling (PLS-SEM) in leisure research. Journal of Leisure Research, 54(3), 309-329.
McCluskey, J. J., & Rausser, G. C. (2003). Stigmatized asset value: is it temporary or long-term?. Review of Economics and Statistics, 85(2), 276-285.
Nallathiga, R., Bindal, S., Chaurasia, A., & Talodhikar, M. (2017). The Stigma Effect on Property Value: A Study of 'Value Depreciation its Distribution in India. NICMAR Journal of Construction Management and Research, 32(2), 42-52.
National Property Information Centre (NAPIC), Kementerian Kewangan Malaysia (n.d). Laporan Stok Harta Tanah 2000-2023. Retrieved September 18,2023 from https://napic.jpph.gov.my/portal/ms/web/guest/publication
National Property Information Centre (NAPIC), Kementerian Kewangan Malaysia (n.d). Sistem Carian Harta Tanah Belum Terjual (UPESM). Retrieved April 2, 2023 from https://www.jpph.gov.my/upesm/indexcarian.php?versi=2
Ogban, M. E., & Akujuru, V. A. (2016). The stigmatization of residential properties due to proximity to waste dumps. IMPACT: International Journal of Research in Business Management, 4(11), 37-46.
Olanrewaju, A., & Woon, T. C. (2017). An exploration of determinants of affordable housing choice. International Journal of Housing Markets and Analysis, 10(5), 703-723.
Said, R., Ab Majid, R., & Chuah Teong Geng. (2017). Making Sense of Stigmatized Property: A cross-professional perspective. Journal of Valuation Property Services, 17, 25–42.
Teck‐Hong, T. (2011). Neighborhood preferences of house buyers: the case of Klang Valley, Malaysia. International Journal of Housing Markets and Analysis, 4(1), 58-69.
William Leiss, O. C. (2013). Stigma and the Stigmatization of Place: A Paper commissioned by the Canadian Nuclear Safety Commission.
Zhuang, J., Cox, J., Cruz, S., Dearing, J. W., Hamm, J. A., & Upham, B. (2016). Environmental stigma: Resident responses to living in a contaminated area. American Behavioral Scientist, 60(11), 1322–1341.