Rent-seeking behaviors in property development: A literature review

摘要

This paper reviews the literature on rent-seeking behaviors in property development, and discusses three major areas: (1) definition and concept of rent-seeking; (2) factors for the rent-seeking behavior appeared; and (3) the impact of rent-seeking behaviors, particularly on property development. In general, there is no exact word that can define what rent-seeking is. It is found that from the reviewed studies that a few researches have adopted search tasks to predict rent-seeking behavior effects in the economy and the respective economic performance. Based on the findings of the review, rent-seeking behavior increases social cost and this might lead to problems such as corruption. This paper paves the way for future studies in examining rent-seeking behaviors in the Malaysian property development, especially for targeted actions to be taken to alleviate upward pressure on home prices.