ISSN: 2222-6990
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The "Tragedy of the Anticommons" concept illustrates a scenario where multiple stakeholders holding rights to a single property can lead to its neglect, as they can impede one another from utilizing it effectively. This situation is notably observed in the context of strata subdivision termination governed by Malaysia’s Strata Title Act 1985 (Act 318), where unanimous resolution is mandatory. Due to the formidable challenge of attaining this consensus, the progress of urban redevelopment efforts is hindered. The consequence of numerous owners overseeing a strata property has resulted in underutilizing its potential, depleting its value, and impeding sustainable urban development. This is exacerbated by the fact that a minority can prevent the majority from selling their property, leaving the building in disrepair. This article applied the widely recognized concept of the "Tragedy of the Anticommons," commonly associated with environmental concerns, to the context of strata ownership. Furthermore, this article aims to propose solutions to mitigate the influence of the Tragedy of the Anticommons on strata termination which subsequently assists the urban redevelopment effort. This article employs a systematic literature review to identify the factors affecting ownership in strata subdivision termination and explore relevant potential solutions. Subsequently, these proposed solutions are validated through semi-structured interviews with five experts specializing in policy implementation of strata and land ownership. The findings emphasize the need to revise the legislation on the consent threshold, voting determinant, the avenue for grievances, termination timeline, valuation of property, and allocation of sale proceeds.
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(Bakri et al., 2024)
Bakri, I., Samsudin, S., & Muin, Z. A. (2024). Unpacking The Tragedy of The Anticommons: A Qualitative Study Addressing its Influence on Strata Subdivision Termination for Urban Redevelopment. International Journal of Academic Research in Business and Social Sciences, 14(7), 1246–1268.
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