Key factors influencing rising housing prices: insights from homebuyers in Setapak, Kuala Lumpur

The rising price of housing in Malaysia, particularly in urban areas like Kuala Lumpur, has significantly limited the ability of potential homebuyers to purchase homes. This situation is critical, as housing choices are fundamental indicators of an individual's or family's quality of life. Therefore this research aims to examine the factors influencing rising property prices from the perspective of homebuyers. A quantitative approach was employed, utilising an online questionnaire for data collection. A simple random sampling technique was applied, targeting homebuyers in Setapak, Kuala Lumpur, resulting in a sample size of 384 with a valid response rate of 40%. Data analysis was conducted using SPSS Version 25, focusing on mean analysis. The findings revealed that location is the most significant factor contributing to increased housing price, while both financial considerations and location are critical in home selection.These insights hold significant implications for homebuyers in their decision-making processes and for policymakers in formulating strategies to lower housing prices and align housing options with the quality of life for homebuyers.