This paper examines the linkages between residential property prices and residential property loans in Malaysia from 1999 to 2015. Even though residential properties are a basic necessity, there are few studies that estimate the long-run and short-run relationships between loans and price levels in residential properties in Malaysia. The estimations are divided into two parts: the detection of long-run relationships and the estimation the long-run and short-run elasticities from an ARDL model. The results support the hypothesis that the loan supply has a positive impact on residential price levels ; the robustness test and Granger causality test also support this conclusion. This suggests the importance of closely monitoring the housing loan activities of banks via monetary or macroprudential policy to control residential property prices.

中文翻译：

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马来西亚住宅物业价格指数与住宅物业贷款供应之间的关系

本文研究了1999年至2015年马来西亚住宅房地产价格与住宅房地产贷款之间的联系。尽管住宅房地产是基本必需品，但很少有研究可以估算出马来西亚贷款与价格水平之间的长期和短期关系。马来西亚的住宅物业。估计分为两部分：长期关系的检测以及根据ARDL模型估计长期弹性和短期弹性。结果支持贷款供给对住宅价格水平有积极影响的假设; 健壮性检验和格兰杰因果检验也支持这一结论。这表明通过货币或宏观审慎政策来密切监视银行的住房贷款活动以控制住宅房地产价格的重要性。