scholarly journals PERCEIVED FAIRNESS IN ISLAMIC HOME FINANCING: COMPARISON BETWEEN AL-BAY’BITHAMANAJIL AND MUSHARAKAH MUTANAQISAH PARTNERSHIP CONTRACTS

2017 ◽  
Vol 15 ◽  
Author(s):  
Mohamed Noordeen Mohamed Imtiyaz ◽  
Salina Kassim ◽  
Nor Zalina Harun
Keyword(s):  
Urban Areas ◽  
Price Index ◽  
House Price ◽  
Housing Sector ◽  
Perceived Fairness ◽  
House Price Index ◽  
Housing Industry ◽  
The Cost ◽  
The Relationship

While many see housing sector as a commodity, there are still many people in Malaysia who fail to own homes and many are forced to rent or stay away from urban areas. This paper aims to provide information and disclosure of available loan opportunities for house purchases in Malaysia. Apart from the importance among buyers, it is also seen as important from the perspective of property valuers and professionals involved in housing industry. This study compares the perceive fairness between three types of home financing that are available in Malaysia, namely conventional home loan, al-bay’ bithaman ajil, and musharakah mutanaqisah partnership (MMP) contracts among the customers in Malaysia. The study conducts a survey among 100 respondents to examine the relationship between customer intentions to use Islamic home financing based of MMP. The study concludes that the MMP has several advantages and cheaper over the BBA for the customer. Apart from being unanimity Shari’ah-compliant, it can be made to keep away from interest completely by means of practicing rental or house price index at the same time as reducing the cost of homes and the duration of financing. This paper concludes by suggesting recommendations for the appropriate actions to address the issues and challenges facing the MMP home finance products and deregulate BBA in Malaysia.

scholarly journals PERCEIVED FAIRNESS IN ISLAMIC HOME FINANCING: COMPARISON BETWEEN AL-BAY’BITHAMANAJIL AND MUSHARAKAH MUTANAQISAH PARTNERSHIP CONTRACTS

2017 ◽  
Vol 15 (4) ◽  
Author(s):  
Mohamed Noordeen Mohamed Imtiyaz ◽  
Salina Kassim ◽  
Nor Zalina Harun
Keyword(s):  
Urban Areas ◽  
Price Index ◽  
House Price ◽  
Housing Sector ◽  
Perceived Fairness ◽  
House Price Index ◽  
Housing Industry ◽  
The Cost ◽  
The Relationship

While many see housing sector as a commodity, there are still many people in Malaysia who fail to own homes and many are forced to rent or stay away from urban areas. This paper aims to provide information and disclosure of available loan opportunities for house purchases in Malaysia. Apart from the importance among buyers, it is also seen as important from the perspective of property valuers and professionals involved in housing industry. This study compares the perceive fairness between three types of home financing that are available in Malaysia, namely conventional home loan, al-bay’ bithaman ajil, and musharakah mutanaqisah partnership (MMP) contracts among the customers in Malaysia. The study conducts a survey among 100 respondents to examine the relationship between customer intentions to use Islamic home financing based of MMP. The study concludes that the MMP has several advantages and cheaper over the BBA for the customer. Apart from being unanimity Shari’ah-compliant, it can be made to keep away from interest completely by means of practicing rental or house price index at the same time as reducing the cost of homes and the duration of financing. This paper concludes by suggesting recommendations for the appropriate actions to address the issues and challenges facing the MMP home finance products and deregulate BBA in Malaysia.

scholarly journals A STUDY ON THE RELATIONSHIP BETWEEN HOUSE PRICE INDEX AND ITS DETERMINANTS IN MALAYSIA

2020 ◽  
Vol 5 (2) ◽  
pp. 515
Author(s):  
Sharmila Binti Saudin ◽  
Nur Ashakirin Jehani ◽  
Nur Amaelya Mastani ◽  
Isnewati Ab Malek
Keyword(s):  
Gross Domestic Product ◽  
Price Index ◽  
Inflation Rate ◽  
House Price ◽  
Domestic Product ◽  
Causality Test ◽  
House Price Index ◽  
Long Run ◽  
Johansen Cointegration Test ◽  
The Relationship

In Malaysia, House Price is considered high at a certain part of the country causing the lower and middle groups unable to purchase a house. This research examines the long-run relationship and causality effect between House Price Index and determinants of House Price Index. The data was obtained from Valuation and Property Services Department (JPPH), Department of Statistics Malaysia, and Bank Negara. The data was collected over 10 years from 2010 to the first quarter of 2019. Johansen Cointegration Test and Granger Causality Test are applied in determining the long-run relationship and causality effect respectively. The general finding of this study is that the House Price Index shows an upward trend for the past nine years but slightly drop in the first quarter of 2019. This study has found that there is a long-run relationship between the House Price Index and the determinants which are Gross Domestic Product, Interest Rate, Inflation Rate, Population, and Unemployment Rate. Next, all independent variables do not granger cause House Price Index. At the same time, there is only one-way relationship found between House Price Index and Gross Domestic Product, and between House Price Index and Population where House Price Index is identified to granger cause both variables.

A New Dynamic House-Price Index

2019 ◽  
Author(s):  
Richard H. Stanton ◽  
Chris Strickland ◽  
Nancy E. Wallace
Keyword(s):  
Price Index ◽  
House Price ◽  
House Price Index

WHAT DRIVES HOUSE PRICE IN MALAYSIA? IN SEARCH OF AN ALTERNATIVE PRICING BENCHMARK FOR ISLAMIC HOME FINANCING

2017 ◽  
Vol 15 (4) ◽  
Author(s):  
Salina Hj Kassim ◽  
Nur Harena Redzuan ◽  
Nor Zalina Harun
Keyword(s):  
Interest Rate ◽  
Price Index ◽  
House Price ◽  
Holistic Approach ◽  
Housing Demand ◽  
House Price Index ◽  
Distributed Lag ◽  
Market Interest Rate ◽  
Auto Regressive ◽  
Conventional Banks

The current practise of the Islamic banks to rely on market interest rate as pricing benchmark for their home financing products has been a subject of intense debate among many parties. Muslim scholars have warned that it is highly discouraged as it could lead to a possible convergence between the practices of the Islamic and conventional banks. This paper intends to address the financing issues in the discussion of human settlement or housing policy by presenting the determinants for house price index as well as looking into the possibility of adopting the House Price Index (HPI) to replace the market interest rate as a pricing benchmark for the Islamic home financing. The study applies Auto-Regressive Distributed Lag (ARDL) method on a model comprising HPI as the dependent variable and a set of independent variables consisting of economic, housing demand and housing supply factors. The findings lead to the formulation of recommendations as a way forward for the Islamic banking industry in particular, and the economy in general. This will require a paradigm shift from basic financing products to a more holistic approach which integrates supply of housing factors, as well as urban planning and urban finance, with human rights and recognizes the need to place and shelter people.

House price index (HPI) and Covid-19 pandemic shocks: evidence from Turkey and Kazakhstan

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yeşim Aliefendioğlu ◽  
Harun Tanrivermis ◽  
Monsurat Ayojimi Salami
Keyword(s):  
Real Estate ◽  
Price Index ◽  
Housing Prices ◽  
House Price ◽  
Monthly Basis ◽  
Data Set ◽  
House Price Index ◽  
Content Type ◽  
Asymmetric Pricing ◽  
Long Run

Purpose This paper aims to investigate asymmetric pricing behaviour and impact of coronavirus (Covid-19) pandemic shocks on house price index (HPI) of Turkey and Kazakhstan. Design/methodology/approach Monthly HPIs and consumer price index (CPI) data ranges from 2010M1 to 2020M5 are used. This study uses a nonlinear autoregressive distributed lag model for empirical analysis. Findings The findings of this study reveal that the Covid-19 pandemic exerted both long-run and short-run asymmetric relationship on HPI of Turkey while in Kazakhstan, the long-run impact of Covid-19 pandemic shock is symmetrical long-run positive effect is similar in both HPI markets. Research limitations/implications The main limitations of this study are the study scope and data set due to data constraint. Several other macroeconomic variables may affect housing prices; however, variables used in this study satisfy the focus of this study in the presence of data constraint. HPI and CPI variables were made available on monthly basis for a considerably longer period which guaranteed the ranges of data set used in this study. Practical implications Despite the limitation, this study provides necessary information for authorities and prospective investors in HPI to make a sound investment decision. Originality/value This is the first study that rigorously and simultaneously examines the pricing behaviour of Turkey and Kazakhstan HPIs in relation to the Covid-19 pandemic shocks at the regional level. HPI of Kazakhstan is recognized in the global real estate transparency index but the study is rare. The study contributes to regional studies on housing price by bridging this gap in the real estate literature.

A house price index based on the SPAR method

2009 ◽  
Vol 18 (3) ◽  
pp. 214-223 ◽  
Author(s):  
Paul de Vries ◽  
Jan de Haan ◽  
Erna van der Wal ◽  
Gust Mariën
Keyword(s):  
Price Index ◽  
House Price ◽  
House Price Index

scholarly journals Developing a House Price Index for The Netherlands: A Practical Application of Weighted Repeat Sales

2007 ◽  
Vol 37 (2) ◽  
pp. 163-186 ◽  
Author(s):  
S. J. T. Jansen ◽  
P. de Vries ◽  
H. C. C. H. Coolen ◽  
C. J. M. Lamain ◽  
P. J. Boelhouwer
Keyword(s):  
The Netherlands ◽  
Price Index ◽  
House Price ◽  
Repeat Sales ◽  
Practical Application ◽  
House Price Index
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