AN INVESTIGATION OF ATTRACTION FACTORS OF REAL ESTATE PROJECT BY USING COMPOSITE INDEX

Abstract

This research aims to contribute in investigation of factors which attracts real estate projects. Due to rapid urbanization, it become a need to develop new housing projects and housing developments are the outcomes of economic and social activities. Main objective of this study is to identify the factors which attract real estate project. There are number of factors connectivity, land, Economy, Social, Educational, health, gender and existing facilities or existing infrastructure area attracting these growth of these projects near rural areas. To know the impacts of these attraction factors Composite Index Method is used. Results of analysis and ranking of these parameters from developers and expert professionals show that the highest impact factors of attraction of real estate projects are existing road network and connectivity, Availability of cheap land and largest chunks of land. It means presence of existing road network and availability of land both are the important factors than existing infrastructure, economy, female community, educational institutes and health facilities. While choosing the location of new housing projects these two factors should be prioritized. Keywords: Real estate, Composite index, Urbanization, Pakistan.