E-COMMERCE : ONLINE PURCHASE OF HDB BUILD-TO-ORDER (BTO) FLATS

Abstract

Although online purchase of products and services from the internet is very common nowadays, it is still not possible to purchase properties online. With technological improvements and Singapore's vision to transform into an intelligent island, home computer ownership and internet penetration are foreseen to increase in future. Over the years, Singapore had implemented several Infocomm technology (ICT) plans to transform Singapore into an intelligent island. The latest 10-year masterplan in infocomm technology (ICT) called iN2015 (Intelligent Nation 2015) was drawn so as to enable Singapore in staying ahead in a competitive global environment. However with more than 84% of the population in Singapore living in HDB flats, the buying procedure still relied on traditional face-to-face transactions. Therefore, the purpose of this dissertation is to explore the motivation and barriers of buyers in buying HDB flat online. By understanding the buyers' motivations and barriers, sellers can understand better the actions required to ensure the success of offering properties online thus exploiting the benefits of e-commerce. A survey was conducted on 270 respondents. It was found that majority of them are willing to apply and purchase HDB flat online and they cited saving in time as their primary reason. Cheque payment was the most preferred method of payment while credit card payment was the least preferred. Respondents who have never bought any product or service on the internet scored a lower average willingly than those who had purchased before.