Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222816
Title: EFFECT OF CONQUAS ON BUYERS' WILLINGNESS TO PAY FOR CONDOMINIUM UNITS IN SINGAPORE
Authors: RAHWANI ABDUL SAMAD
Keywords: Building
PFM
Project and Facilities Management
Chung Kin Hung Jacky
2014/2015 PFM
Condominiums
CONQUAS
Quality management
Singapore
Issue Date: 19-Jun-2015
Citation: RAHWANI ABDUL SAMAD (2015-06-19). EFFECT OF CONQUAS ON BUYERS' WILLINGNESS TO PAY FOR CONDOMINIUM UNITS IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: The Construction Quality Assessment System (CONQUAS) has increasingly gained significance as an important tool for developers and buyers to assess the quality and workmanship of developments. Developers are trying to justify their prices based on the scores achieved under this system. This motivated the exploration of CONQUAS being a factor considered by buyers in their purchasing decisions. The results will help developers who are in a dilemma of whether to increase their CONQUAS score goal during the construction stage. CONQUAS assessment is done once and thus, imperative for developers to be certain of their score goal. The objectives of this study are to review factors affecting buyers’ willingness to purchase a condominium unit. Assessment of buyers’ perception of CONQUAS is conducted so as to measure the potential of CONQUAS as a marketing tool that will attract buyers to purchase future developments. Additionally, this dissertation will look into assessing profits earnable by developers due to a change in CONQUAS. A benchmark was created with the help from credible databases on sale transactions and CONQUAS score of a condominium development in Singapore. A structured in-depth interview was carried out to solicit views from residents of the condominium in question. From the responses, statistical analysis and contingent valuation were conducted to arrive to prove the hypothesis that CONQUAS affects buyers’ willingness to purchase a condominium unit. The findings have shown that CONQUAS does affect buyers’ willingness to pay for a condominium unit. However, the extent of willingness to pay is not by a big margin unless developer has a CONQUAS score that is higher by a bigger extent of at least 3 scores higher than intended. This will bring about more than proportionate profits for developer. On a flipside, a reduction in the overall score of a condominium will bring about a large loss due to buyers’ seeking compensation, suggesting that indeed, CONQUAS score of the condominium is one of the factors in they consider in their decision making.
URI: https://scholarbank.nus.edu.sg/handle/10635/222816
Appears in Collections:Bachelor's Theses

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