Predicting intention to buy real estate for investment in Da Lat city, Vietnam, with an extended theory of planned behavior

Abstract

This study aimed to predict the intention to buy real estate for investment. It was guided by the Theory of planned behavior (TPB) and Financial Management Behavior View (FMBV). Apart from 6 in-depth interviews, a total of 253 questionnaires were completed by respondents in Da Lat City, Lam Dong Province. By mixing both quantitative and qualitative research and data, the breadth and depth of understanding about real estate buying behavior were gained, and hypotheses were tested. The results show that the extended TPB, which includes customers’ attitudes, subjective norms, perceived behavior control, and financial satisfaction, is a good model for predicting the willingness to buy real estate for investment. As a result, planned behavior and financial satisfaction played a role in the intention to buy real estate for investment in Da Lat city, Vietnam. Managerial implications were also grasped: real estate companies might pay attention to the attitude of their customers, finding out who could influence the customers’ decision-making in a real estate context, helping their customers have better understanding while buying real estate; customers’ financial satisfaction is also considerable while dealing with real estate customers.