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Proposed Waqf Model for an Affordable Housing Mechanism in Malaysia

International Journal of Advanced Research in Economics and Finance, [S.l.], v. 2, n. 2, p. 87-109, aug. 2020


KAMAL, Syukqran; ATING, Rashid


Statistically, the house prices inflation and affordability conundrums in Malaysia is discoursed for decades without sensible solutions. There are number of government endeavours such as PR1MA and MyHome to relief the community but, it seems impermanent due to package offer to only the first-time homebuyers. Furthermore, the untouched waqf lands affairs complicated the issues. Most of the waqf actors hardly to adapt the waqf assets modernisation approaches. This article intended to get the aperture closer by the new collective waqf framework which the waqf lands is the low-cost house development fundamental to the target audience in community. There are five significant elements for feasibility assessment, concepts, sources, participants, structures and social impacts. These outcomes will be compared to the existing waqf housing structures of Malaysia. This new framework showed great potential for the affordable housing implementation seeing to the earning sustainability, resilient management, social manifestation and economic impacts which scarcely ever in existing waqf models. The Authors recommend the proposed model research expansion to motivate engagement on this sector. This article is related to the regulators, policymakers and practitioners   for viability evaluation of the affordable housing development at qualified waqf lands.

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