ANALYSING PREFERENCES FOR SELECTED CONDOMINIUM FACILITIES WITH CONJOINT ANALYSIS

Abstract

Many factors influence a purchaser's selection of a condominium, and facilities are one of the factors. Past research reveals that developers need not provide a wide range of facilities but need only provide the ones that people want. This research examines preferences of potential buyers towards four facilities and also the preferences of different segments towards the facilities. Understanding these preferences will help developer save cost through building the facilities that people want. Also, it will increase the marketability of the condominium project towards the target segments. In attempting this research, conjoint analysis is introduced as a method to determine the preferences of different segments. Results from the research indicate that tennis court is the most preferred facility across all segments. Professionals and administrative/managerial group, people who can afford a more than $1 million condominium and people who earn more than $6000 prefer putting green to squash court. Fitness station or fitness comer, a relatively new facility in condominium, is highly preferred by all different segments. Most segments however, seem to have the least preference for squash court.