LANDED PROPERTY SELECTION CRITERIA

Abstract

Many studies relating to condominiums have been carried out over the past few years. However, few have been undertaken on detached, semi-detached and terrace houses (landed property) with regard to the motivating factors that affect householders' selection of a residence. A knowledge of the housing preferences is useful as a basis for the evaluation and further improvement in the quality of future landed property. Modern condominiums which require less land area lave more facilities available than landed property. Hence to actively compete in the market, the attributes of landed property need to be clarified. The findings of this present research may enlighten marketing strategists about the preferences of people. People possess different housing selection patterns. By factor analysis, the following ten surrogates emerged from the twentyfive suggested factors as being considered of greater importance in the selection of landed residential units. The ten factors are:- (1) Peacefulness; (2) Security of the neighbourhood; (3) Accessibility factors; (4) Physical characteristics of a house; (5) A previous association with the district; (6) Relative cost and finance; (7) Geomancy and proximity to recreational facilities; (8) Amenities/ repair and rraintenance costs; (9) Ample car parking facilities; and (10) Proximity to public transport services and other factors. Among these factors/ peacefulness and security of the i neighbourhood are the two most important. The analysis of householders' housing selection pattern based on their period of occupation showed that architectural design/ living room size and prestige of the districts are of increasing importance to recent purchasers whereas proximity to good schools and geomancy show a decline in importance. Initially, the dissertation comprises a general background of the study and a review of the theoretical framework for housing selection patterns. This is followed by a survey analysis based on income, family size, occupation, district, type of occupancy and period of occupation, which seeks to examine the application of the theoretical concepts. A summary of the factors motivating the demand for dwelling units and recommendation to developers and purchasers conclude this work.