FACTORS INFLUENCING CONSUMERS' BUYING BEHAVIOUR IN CHOICE OF THEIR RESIDENTIAL HOMES : MASS MARKET CONDOMINIUMS VERSUS RESALE HDB FLATS
TAN GUANLING GLYN
TAN GUANLING GLYN
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Abstract
Housing studies have been widely researched in all aspects, such as lifestyle attributes and housing affordability. However, very little research has been undertaken to apply Maslow’s theory of motivation in housing studies. There were also minimal research done on the comparison of needs and attributes between the consumer groups. Therefore, this study aims to examine whether Maslow’s theory is applicable to studying the consumer behavior. This would be examined in terms of the different categories of home buyers, and also the importance of housing attributes to different consumer groups.
The analysis was done using the binary logistic regression model to examine the patterns between the different consumer groups and the demographic factors, need attributes and housing attributes to identify which are the influential factors that affect the choice of housing.
The findings show that Maslow’s theory of needs is not applicable to buyers of resale HDB flats. However, it is applicable to buyers of mass market condominiums and also affects the choice between resale HDB buyers and mass market condominium buyers. The safety need in Maslow’s theory appears to be highly influential in the decision between resale HDB housing and mass market condominiums.
It is found that both physical attributes and environmental and social attributes have an impact on resale HDB buyers and mass market condominium buyers. However, environmental and social attributes have a higher influence for resale HDB buyers while physical attributes have a higher influence on mass market condominium buyers. The findings also show that while comparing between the two types of housing only, the political and economic attribute became more influential instead.
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Real Estate, Tu Yong, 2010/2011 RE
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2011-04-20
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Dissertation