FINANCIAL AND LIFESTYLE FACTORS ASSOCIATED WITH HOMEOWNERSHIP READINESS AMONG GIG WORKERS IN MALAYSIA

Abstract

The expansion of gig work has raised concerns regarding workers’ financial stability and access to homeownership due to irregular income and non-standard employment arrangements. This study examines the financial and lifestyle factors associated with homeownership readiness among gig workers in selected urban areas of Malaysia. A quantitative dominant mixed methods survey design with an embedded qualitative component was adopted. Data were collected through an online questionnaire from 22 purposively selected gig workers in Johor Bahru, Kuala Lumpur and Selangor. Quantitative data were analysed using descriptive statistics, the Relative Importance Index (RII), Cronbach’s alpha and Spearman’s rank order correlation, while open ended responses were analysed thematically. The findings indicate that prioritising daily living expenses was the most prominent lifestyle related consideration (RII = 0.755), followed by property saving priority and financial literacy/spending control (RII = 0.736). Income instability demonstrated a significant negative association with homeownership readiness (ρ = −0.589, p = 0.004), whereas savings behaviour, lifestyle spending and financial literacy/spending control showed no significant associations. Qualitative findings further highlighted income instability, documentation requirements, financing accessibility and housing affordability as key challenges. The study highlights the need for more inclusive and flexible housing finance policies for gig workers.