A STUDY ON BUYER'S BEHAVIOUR IN THE PRIVATE RESIDENTIAL PROPERTY MARKET

Abstract

The boom in the property market has prompted many businesses whose core activities have traditionally focused on other areas, to join the lucrative property market. However, over the years, experienced developers have been able to establish vis-a-vis potential buyers. This study aims to examine whether buyers in their purchasing decision, take into consideration the image or trackrecord of developers. This was done by carrying out a survey of potential buyers. A case study was used to illustrate the case of one major developer who has undergone an change of image in recent years. Although the image of developers was found to be a significant factor in home buyers' decision, there are also other equally important consideration such as the design and layout, location and marketing of the project amongst others. A comparison was made between two development projects to illustrate this point. The image of developers is one of the many factors that influence buyers' decision due to the current sky high property prices. Buyers tend to be more selective in their purchasing decision. However, the presence of only a few developers in the market has restricted buyers' choice to a certain extent so that they cannot be too selective in their purchases.