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A study of macro economy in determining the commercial property market

Sim, Boon Hun (2005) A study of macro economy in determining the commercial property market. Masters thesis, Universiti Teknologi Malaysia, Faculty of Geoinformation Science and Engineering.

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Abstract

The influence of macroeconomic variables toward real estate performance, as well as it effects on commercial property transaction is inevitable. As a result, the relationship propagates for this study in the endevor to understand and explain the influence of these macroeconomic variables. This study is set out to ascertain the commercial property performance, especially in its transaction volume. Hopefully, it will serve as a complement to other related studies carried out. The main purpose of this study is to develop a hypothesis for projecting trends of property transactions. It will be based upon an analysis of the relationship between key macroeconomic variables and property transaction. Several analytical methods such as correlation and regression analysis were carried out. Evaluation based on proportion of each macroeconomic variable was determined, and ultimately combined as a complete model to predict in a more acceptable manner. In this finding, it obviously showed that the existence of several trends were aimed to affect the commercial property transaction volume. As presented in this research, some of the macroeconomic variables varies in the way they influence the market. They significant ones include Gross Domestic Product, Base Lending Rate (During the economic crisis in year 1997), national saving and bank loan allocated to the property sector. In a significant way, this finding suggests that by monitoring the macroeconomic variables, the commercial property market performance is predictable, especially in its demands on the market. More Important, it will also contribute towards a sustainable development of new projects in the coming future. Abstract in Malay : Adalah tidak boleh dinafikan bahawa implikasi pembolehubah makro ekonomi memberi pengaruh yang mendalam terhadap prestasi harta tanah serta urusniaga harta tanah komersial. Ini memberikan inspirasi terhadap keperluan untuk menjalankan satu kaedah penyelidikan, dimana penganalisaan pembolehubah makro ekonomi tersebut dapat ditentukan, terutamanya dalam penentuan prestasi harta tanah komersial,dan bilangan urus niaganya. Dengan ini, kajian ini memberi manfaat yang besar dalam pelbagai penyelidikan yang dijalankan di Malaysia. Tujuan penyelidikan ini adalah untuk menghasilkan hipotesis yang membolehkan pelbagai pembolehubah makro ekonomi di Malaysia diuji dalam satu jangka masa. Seterusnya, pelbagai jenis tren dihasilkan demi pengujian kualitatif. Disamping itu, pelbagai kaedah penganalisaan seperti analisis korelasi dan regresi turut dijalankan untuk pengujian secara kuantitatif. Penilaian yang dijalankan adalah berdasarkan kepada nisbah bagi setiap pemboleh ubah makroekonomi, dan ia seterusnya digabungkan sebagai satu model yang bertujuan untuk perjangkaan bilangan urus niaga hartanah komersial. Penemuan dalam kajian ini menunjukkan terdapatnya kewujudan beberapa tren yang mempengaruhi perkembangan urus niaga harta tanah komersial. Antara beberapa pemboleh ubah makro ekonomi yang memberi impak berkesan terhadap makro economi adalah Keluaran Dalam Negara Kasar (KDNK), kadar pinjaman dasar (pada krisis ekonomi 1997), simpanan nasional serta pinjaman bank yang memberi pinjaman kepada sektor harta tanah. Penemuan dalam kajian ini secara langsung mencadangkan bahawa pengawalan pemboleh ubah makro ekonomi, akan berupaya meminimumkan kegagalan dalam pelbagai pembangunan dan pembinaan projek baru, dan seterusnya meningkatkan prestasi pasaran terutamanya dalam permintaan harta tanah komersial.

Item Type:Thesis (Masters)
Additional Information:Thesis (Master of Science (Property Management)) - Universiti Teknologi Malaysia, 2005 ; Supervisor : Prof. Rosdi Ab Rahman
Uncontrolled Keywords:Macroeconomic; real estate performance; commercial property
Subjects:H Social Sciences > HB Economic Theory
Divisions:Geoinformation Science And Engineering (Formerly known)
ID Code:3004
Deposited By: Ms Zalinda Shuratman
Deposited On:28 May 2007 03:05
Last Modified:25 Jul 2012 02:22

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