Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222966
Title: THE IMPACT OF VIRTUAL REALITY ON HOMEBUYERS � PURCHASE DECISION-MAKING PROCESS
Authors: ZHU YUCHEN
Keywords: Real Estate
RE4000
RE
Masaki Mori
2017/2018 RE
Proptech
Virtual Reality
Property Sales And Marketing
Homebuyers
Purchase Experience
Purchase Decision-Making Process
Asia Pacific
Issue Date: 2-May-2018
Citation: ZHU YUCHEN (2018-05-02). THE IMPACT OF VIRTUAL REALITY ON HOMEBUYERS � PURCHASE DECISION-MAKING PROCESS. ScholarBank@NUS Repository.
Abstract: Every industry is facing the challenges and opportunities of moving from an industrial past to a digital future. The real estate industry is no exception. A property technology (proptech) named virtual reality (VR) has emerged to accelerate property buyers’ shortlisting process by providing immersive virtual walk-through of properties. However, the adoption rate of VR in Asia Pacific is low because owners of property companies are unclear of the impact and practical benefit of adopting VR. Therefore, this study aims to investigate the impact of VR on homebuyers’ purchase decision-making process. With the objectives to discover VR’s potential in enhancing homebuyers’ purchase experience and accelerating decision-making process, this study broadened the knowledge of VR for real estate market players, which is highly indispensable in the digital era. Serving as a pioneer study accessing the impact of VR on homebuyers’ purchase behavior, the study filled the gaps in existing literature and laid the foundation for future research. The study reviewed consumer behavior model and the impacts of VR on other industries thus attempted to discover the influence of VR on homebuyers’ purchase behavior based on the result of a structured survey questionnaire with 310 respondents in Agile Fuchun mountain residence in Guangzhou, China. One-way ANOVA, factor analysis using PCA (principal component analysis) and multiple linear regression analysis were conducted. Empirical evidence obtained reflected a significant positive influence of VR on homebuyers’ purchase experience and purchase intent. Three contributions of VR including establishing confidence and trust towards developer, providing assistance in evaluating alternatives and enhancing purchase experience were identified to be the main factors accelerating homebuyers’ purchase decision-making process.
URI: https://scholarbank.nus.edu.sg/handle/10635/222966
Appears in Collections:Bachelor's Theses

Show full item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
Zhu Yuchen 2017-2018.pdf1.44 MBAdobe PDF

RESTRICTED

NoneLog In

Page view(s)

38
checked on Jan 26, 2023

Download(s)

12
checked on Jan 26, 2023

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.