Ibn Taimiyyah’s Thought on Price Regulation in Housing Affordability
Bibliographic Data
| ID | 21236370 |
|---|---|
| Authors | Hafirda Akma Musaddad (0000-0003-2611-5095, Sultan Abdul Halim Mu'adzam Shah International Islamic University), Zairy Zainol (0000-0002-4025-166X, Sultan Abdul Halim Mu'adzam Shah International Islamic University), Selamah Maamor (0000-0003-2063-7095, Sultan Abdul Halim Mu'adzam Shah International Islamic University) |
| Year | 2022 |
| Volume | 22 |
| Issue | 1 |
| Publication date | 2022-12-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Journal of Islamic Thought (JOURNAL) |
| Journal identifiers | ISSN: 2232-1314 • E-ISSN: 2289-6023 |
| Publisher | Department of Theology and Philosophy, UKM (PUBLISHER) |
| DOI | 10.24035/ijit.22.2022.237 |
| OpenAlex | W4310537602 |
| Language | EN |
| References cited | 3 |
Housing affordability concerns are particularly widespread in lower-and middleincome households in most major Malaysian cities, with most of them having trouble purchasing a home. This research therefore seeks to highlight certain related issues of housing affordability and discuss the concept of price regulation according to Ibn Taimiyyah. This study finds that one of the key challenges raised is the sensitivity of housing affordability which is caused by developers' tendency to boost price to maximize profit, resulting in increasing house prices. In terms of the price notion, Ibn Taimiyyah places a greater focus on a fair price, which indicates that the worth of an item's price is acceptable and proportionate with the commodities supplied at a given location and time. Ibn Taimiyyah divides pricing into two categories namely injustice and elemental tyranny. Thus, price regulation is permitted in Islam for the benefit of the welfare state. The originality of this study is it highlights several important issues relating to price regulation in housing affordability that are not widely discussed among researchers. Therefore, it is hoped that it will be able to contribute to the ground knowledge and understanding of the importance of price regulation in housing affordability
Economics · Keynesian economics · Neoclassical economics · Political science · Positive economics · Public economics · Housing Market and Economics · Islamic Finance and Banking Studies
| Highly cited | No |
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