HOMEBUYERS' PURCHASE DECISIONS TOWARDS GREEN RESIDENTIAL HOUSING IN SINGAPORE

Abstract

Residential housing has been identified as one of the contributors to growing environmental problems due its energy-consuming nature. With Singapore being a forerunner in alleviating this issue, this study seeks to understand the impact of green certifications and features amongst different groups of homebuyers such as awareness level, preferences and significance of green features as a housing attribute in their decision-making. The study focuses on four main housing attributes: Location, Size, Green Features and Facilities.

Descriptive surveys utilising conjoint analysis and compensatory methods were distributed to potential homebuyers in order to identify these differences. ANOVA testing and Pearson Chi-square Test were used to prove the hypotheses.

The results indicated that most of the potential homebuyers are informed except for public housing residents above the age of 35. Most of them would consider buying green residential housing and are willing to pay for the features. It was also identified that green fittings and features were the third housing attribute in their consideration of buying a house. Therefore, it was somewhat important in their decision-making process. Compensatory modelling showed that most were not willing to make the trade-off between green features and housing attributes.

Focus groups were also conducted between public housing residents and private housing residents so as to identify gaps in the knowledge as well as differences in preferences for the housing attributes. Interviews with professionals were used to discover more initiatives to raise the awareness of residents and also, to discuss the future of green residential housing in Singapore.