FOREIGN TALENT - A PRINCIPLE COMPONENTS ANALYSIS OF THEIR PRIVATE HOUSING PREFERENCE

Abstract

There is a need to understand the private housing preferences of the expatriates, such that these preferences can be incorporated into government policies to attract foreign talent. A study on the housing preferences of the expatriates, who are culturally, socially and economically different from Singaporeans, would also be useful to private developers intending to enter this market with enormous potential. A total of 185 respondents who fulfilled the survey criteria was included in the survey sample. Based on an initial list of 29 preference variables pertaining to all aspects of condominium housing, the respondents were asked to rate the importance of the variables in a 5-point Likert-scale response. The results were applied to a Principal Components Factor reduction and a final set of 6 factor clusters were identified. These are, physical factors, locational/cost factors, recreational/amenities factors, design/aesthetics factors, prestige factors and home-IT factors. Using the factor scores generated from Principal Components Analysis, a study of how the socio-economic characteristics variations will influence the factor scores is also conducted. ANOVA testing is conducted with regard to the 9 socio-economic variables gathered from the survey, the results are then analysed and interpreted. The findings from the analysis represent a departure from past works on expatriate's housing preferences.