Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/234373
Title: CONSUMERS' PERCEPTION AND BEHAVIOR IN THE MASS MARKET CONDOMINIUM HOUSING DURING AN ECONOMIC UPSWING
Authors: HAM KWOK YONG
Issue Date: 2007
Citation: HAM KWOK YONG (2007). CONSUMERS' PERCEPTION AND BEHAVIOR IN THE MASS MARKET CONDOMINIUM HOUSING DURING AN ECONOMIC UPSWING. ScholarBank@NUS Repository.
Abstract: Different behaviors and purchasing interests are demonstrated by consumers in the various property markets during different market phases. In the consumer-oriented market of today, having a better understanding of the consumers would give a developer an edge over competitors. Acknowledging this, the research sets out to find out the perceptions and behaviors of homebuyers, investors and speculators in the current upswing. A comparison regarding the effects of the upswing is also made between different buyers. This study is on the mass market of condominium housing in Singapore. A mixture of qualitative and quantitative methods is used for this study and it consists of in depth interviews and a survey. Data gathered from the survey is analyzed using statistical tools such as cross tabulation, chi-square testing, and descriptive statistics. A multinomial logit model is used to compare the effects of the market on different buyers. It is found that most respondents feel that the market is in an upswing and is favorable for a housing purchase. Investors and speculators are more likely to be older and financially stronger while home seekers, which form the majority, are likely to be younger. It is also observed that speculation is sparse in the mass market. Lastly, it is generally found that all affordability is a concern of buyers, although other factors are also important. Affordability is a function of income, present price, and future price of the house. Having placed high importance in the aspect of future prices, the movement of prices in the upswing would be an important consideration of buyers in general and could be utilized as an important marketing tool by developers and marketers.
URI: https://scholarbank.nus.edu.sg/handle/10635/234373
Appears in Collections:Bachelor's Theses

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