COMPARATIVE ANALYSIS OF IMMOVABLE REAL ESTATE CONVENTIONAL PUBLIC AUCTION PRACTICES IN MALAYSIA, AUSTRALIA AND NEW ZEALAND

Abstract

This study examines and compares public auction practices for real estate in Malaysia, Australia, and New Zealand. While Australia and New Zealand have well-established, transparent, and efficient auction systems, Malaysia’s auction process regulated by the National Land Code 1965, includes both judicial and non-judicial methods, which may introduce complexity and redundancy for stakeholders. The primary objectives of this study are to analyze the auction practices in Malaysia relative to those in Australia and New Zealand and to identify best practices that could enhance Malaysia’s real estate auction system. This research employs content analysis and desktop research, with data coded and analyzed using Atlas.ti (version 23). Australia and New Zealand have a robust auction culture where competitive bidding is common, offering real-time insight into real estate market dynamics. For Malaysia, adopting key elements from these established systems could enhance efficiency and transparency. Recommendations for improvement include implementing standardized, market-driven approaches, enabling internal property inspections, enforcing stricter regulations, and introducing remote bidding options. These best practices could help Malaysia’s auction system become more streamlined, market-responsive, and accessible to a broader range of participants.