CONDOMINIUM HOMEBUYERS' PERCEPTIONS ON THE NEW LIVING CONCEPT - THE INTERNET HOME

Abstract

The explosive growth of the Internet has brought along deep impact of technology on real estate. The increasing fad for hi-tech factories, the fervour of online shopping that affects retail trend, the mobility of the Internet and computer notebooks that led to reduced demand for office space are all part of the technological transformation taking place in the real estate industry. With the various property sectors going through such dramatic changes, the housing sector is not about to be spared. The Internet Home is one that connects to the global network, making it accessible to homeowners from anywhere, anytime. It seeks to bring with it a whole series of applications that will enhance the overall lifestyle of the homeowner. However its development in Singapore is relatively limited. Private developers unaware of homebuyers' perception on the new concept are reluctant to deliver a home that is truly Internet enabled. Hence, the aim of this study is to examine condominium homebuyers' perception on the Internet Home applications as well as their reasons and other factors that influence their decisions to accept or reject the Internet Home concept. Key findings show that the Internet Home is generally well received by majority of the homebuyers. It is found that homebuyers' demographic profile, technological orientation and individual perception play a part in influencing their decisions to live in the Internet Home. Judging from homebuyers' overwhelming response for the Internet Home along with the government's drive to promote the e-lifestyle, the future of this new housing mode certainly looks promising.