Housing Purchase Decisions Research Articles

Application of Hedonic Pricing Model and Geographic Information System on Property Valuation in Yogyakarta

This study aims to: 1) identify the differences in housing choices between Generation Z (students) and the previous generation (parents or guardians); 2) determine the factors influencing housing purchase decisions; and 3) map the areas of interest for Universitas Gadjah Mada (UGM) students based on price. The research employs a combination of the Hedonic Pricing Model (HPM) and Geographic Information System (GIS), a method that remains limited in the field of property research. The findings reveal that significant factors affecting property prices are building area and location, with the majority of UGM students choosing to reside in Ngaglik District, Sleman Regency. Sleman Regency is also the predominant area where UGM students purchase housing in Yogyakarta. Key attributes influencing UGM students' housing decisions include a safe neighbourhood, residential environment, and distance from waste centers. This research contributes valuable information to property appraisers regarding property price distribution in Yogyakarta and its influencing factors, and provides crucial insights for effective decision-making and policy implementation in regional economic development planning, especially in less popular areas.

PENGARUH BAURAN PEMASARAN TERHADAP KEPUTUSAN PEMBELIAN PERUMAHAN PADA CV. SINAR PAPUA

This study aims to determine the effect of the marketing mix on the decision to purchase housing at CV. Sinar Papua. In this study, a sample of 45 respondents was taken using an purposive sampling technique. This study uses a descriptive quantitative research method. Which data collection techniques are carried out through direct observation and surveys obtained by distributing questionnaires, interviews, and documentation to housing consumers at CV. Sinar Papuarelating to the purchase decision on the housing. This study uses the SPSS 20 application program. Based on the results of the t-test the effect of each marketing mix variable consisting of Product, Price, Promotion and Location has a significant value below 0.05. So it can be concluded that H0 is rejected and Ha is accepted, which means that Product, Price, Promotion and Location affect the Housing Purchase Decision at CV. Sinar Papua. And based on the results of the f test it can be concluded that Product, Price, Promotion and Location jointly influence the Housing Purchase Decision at CV. Sinar Papuais in accordance with the f test where fcount > ftable (11.760 > 3.226).

ANALYSIS OF THE INFLUENCE OF MARKETING MIX VARIABLES ON DECISIONS TO PURCHASE A SUBSIDIZED HOME (Case Study at Taman Argopuro Indah Housing Banyuwangi)

PT Argopuro Pratama Sentosa is a real estate company in Banyuwangi Regency. Analysis of the Effect of Marketing Mix Variables on Subsidized House Purchase Decisions (Case Study in Taman Argopuro Indah Housing, Banyuwangi) is important to study along with the increasing proportion of households living in subsidized houses. Interviews, distribution of questionnaires, and documentation were used as data collection techniques. The sampling technique for this study used an accidental sampling technique, namely as many as 78 consumers at Taman Argopuro Indah Housing Complex. Data analysis methods in this study are validity test, reliability test, normality test, multicollinearity test, heteroscedasticity test, multiple linear regression analysis test, coefficient of determination test, f test, and t test. Based on the results of the F test, it shows that the marketing mix variables (price, location, product quality, and promotion) together have a positive and significant influence on the buying decision of subsidized housing. Based on the results of the t test, it can be seen that the variables of price, location, product quality, and promotion have a partially positive and significant effect on the purchase decision of subsidized housing.

Does individuals' age matter? A comparative study of generation X and generation Y on green housing purchase intention

PurposeThis comparative research examines the factors influencing individuals' purchase intention toward green housing. By examining these factors, this study provides fruitful insights into the purchase intentions and behaviors for greenhouses among individuals of different age groups in India.Design/methodology/approachData were gathered from Generation (Gen) X (313) and Generation (Gen) Y (297) using self-administered questionnaires. The “partial least squares structural equation modeling” was used to test the hypotheses.FindingsThe outcome shows that attitude and green trust substantially impact the green purchase intention of Gen X and Y. More specifically, environmental knowledge insignificantly influences the green purchase intention of Gen X while significantly influencing Gen Y. However, perceived risk insignificantly affects the purchase intention of both Gen X and Y. Consequently, green purchase intention substantially impacts the green purchase behavior in both studies.Research limitations/implicationsThis research focuses primarily on India; future research may be conducted in different geographical contexts. This study could also be extended to all age groups individuals.Practical implicationsThe findings of this article facilitate policymakers, real estate developers and professional bodies in formulating strategies for sustainable nations in the future.Originality/valueThe current article is the initial empirical attempt to examine the home-buying decisions of individuals in India. Moreover, the role of Generation X and Generation Y in green housing purchase decisions will provide fruitful insights into how different age groups impact the decision-making process of green housing.

The Importance of Location in Housing Purchase Decision: “Location, Location, Location” is a Common Mantra in Real Estate

The Importance of Location in Housing Purchase Decision: “Location, Location, Location” is a Common Mantra in Real Estate

Factors Influencing the Decision to Purchase Subsidized Housing during the COVID-19 Pandemic in South Sulawesi: Sequential Exploratory Design

The decision to buy subsidized houses by low-income people during the COVID-19 pandemic in South Sulawesi Province, Indonesia. This study aims to analyze the factors influencing subsidized housing purchase decisions by low-income people during the COVID-19 pandemic in South Sulawesi Province, Indonesia. The population in this study is subsidized home buyers in Maros Regency, South Sulawesi, who made purchases during the COVID-19 pandemic. The study sample was selected using purposive sampling techniques, where the respondents taken were subsidized home buyers in Maros Regency who made purchases during the COVID-19 pandemic (2019-2021). Data collection was conducted through interviews with subsidized housing developers in Maros District. Interviews were conducted with operations managers, leaders of marketing teams, and marketing administrative staff at subsidized housing developers. Data collected through interviews were processed using confirmatory factor analysis (CFA) and conformity testing models. The main results of this study show that location and quality of service have a significant influence on subsidized home purchase decisions. This shows that location and quality of service are important factors that developers must pay attention to in marketing subsidized houses to low-income people. The results of this study recommend that subsidized housing developers maximize location selection and service quality in marketing subsidized houses.

The Influence Of Location, Promotion And Lifestyle On Purchasing Decisions Inkampoeng Hijrah Residence Tasikmalaya Housing

The purpose of this study was to find out the influence of location, promotion and lifesyle simultaneously and partially on survey housing purchase decisions on Kampoeng Hijrah Reasidence, Tasikmalaya. The research method used is a quantitative method with a causality survey approach. The sample in the study was 61 respondents. Data collection is done using questionnaries. The data analysis used is multiple regression analysis. The result of this study showed simultaneously the location, promotion and lifesyle gave a significant influence on housing purchasing decisions. Partially location, promotion and lifestyle, each has a positive and significant effect on purchasing decisions.

Influences And Antecedents That Influence Home Purchase Decisions Through Sharia Mortgage Financing (Study On KCP BTN Syariah Kalimas Bekasi Branch Customers)

This study aims to investigate the influence of marketing mix and service quality on customers' decision to purchase a house through Sharia financing at Bank BTN Syariah. The population of this research consists of customers who have purchased a house using Sharia financing from Bank BTN Syariah KCP Kalimas Bekasi. The sample size for this study is 150 individuals. The data analysis method employed in this research is multiple linear regression analysis. The results of the study show that both marketing mix and service quality have a significant simultaneous effect on customers' house purchase decisions. Furthermore, the partial results of the hypothesis test also indicate that marketing mix and service quality significantly influence customers' house purchase decisions. In conclusion, this research demonstrates that marketing and service quality factors play a crucial role in shaping customers' decisions to purchase a house through Sharia financing at Bank BTN Syariah KCP Kalimas Bekasi. Therefore, the bank needs to enhance service quality and marketing strategies to attract customers' interest in choosing Sharia financing as a solution for their house purchase

Influencing Factors on Housing Purchase Decisions: Promotion, Product Quality, and Price

This quantitative research investigates the impact of promotion, product quality, and price on housing purchase decisions. Employing a non-probability simple sampling method, 80 respondents from a consumer base were surveyed, and data were analyzed using multiple linear regression analysis, classical assumption tests, t-tests, F-tests, multiple correlation coefficients, and R2 calculations in SPSS version 25.0. The findings demonstrate that promotion, product quality, and price individually influence purchasing decisions. Moreover, when considered collectively, these factors significantly affect housing purchase decisions. This study provides valuable insights for marketers and practitioners seeking to optimize their strategies in the housing industry.
 Highlights:
 
 Multiple Linear Regression: Employed statistical analysis to quantify the influence of promotion, product quality, and price on housing purchase decisions.
 Individual and Collective Impact: Revealed the separate effects of each factor and their combined significance in shaping consumer choices.
 Marketing Strategy Insights: Offers actionable insights for housing industry practitioners to enhance their marketing strategies based on empirical evidence.
 
 Keywords: Housing Purchase, Promotion, Product Quality, Price, Consumer Decision

Housing purchase intention of the floating population under the home purchase restriction policy in China

Housing security is fundamental to the life of rural-urban migrants in cities, and the housing choices of rural-urban migrants have drawn increasing attention in recent studies. However, the role of housing policies is still yet to be explored. This paper aims to investigate the effect of housing policies on rural-urban migrants’ purchasing intention. Taking China as an example, the empirical results indicate that, somewhat surprisingly, the home purchase restriction policy implemented by the Chinese government raises the floating population’s intention to purchase houses in the host city. Yet, such a linkage varies with income and housing status among the floating population, while it gives rise to changes in their consumption behaviors. This study thus provides new insights into the effect of housing policies and how floating populations make housing purchase decisions, yielding critical implications on how to optimize housing policies.

The Influence of Housing Policy on People's House Buying - A Case Study of China

This research examines the influence of housing policy on individuals' decisions to purchase houses in China. The study considers various factors, including disposable income, GDP, national property tax, and the urban registered unemployment rate, and analyzes their impact on housing purchase decisions through regression analysis. The findings indicate that disposable income is the primary driving factor behind the decision to buy a house in China. Higher per capita disposable income among urban and rural residents reflects increased financial capability, leading to a greater propensity to purchase houses. Moreover, an increase in GDP demonstrates a positive influence on housing purchase decisions, as economic growth and higher income levels correspond to increased willingness to buy houses. However, the introduction of national property tax has shown a certain negative impact on the decision to buy a house, potentially due to the increased cost associated with purchasing a property. Notably, the relationship between the urban registered unemployment rate and housing purchase decisions remains less clear. Overall, these findings contribute to a better understanding of the role of housing policy and various socioeconomic factors in shaping people's decisions to buy houses in China.

Factors affecting housing purchase decision in Vietnam

Housing is an essential asset for households, and owning a home is a dream of many people, For a country with one of the largest populations in the world such as Vietnam, owning a house for low-income employees is even more desirable to low-income people. Many low-income people are disadvantaged groups in society, so building houses that meet the needs of disadvantaged groups always has a positive impact on socio-economic development. The article uses a survey method combined with regression analysis to identify factors affecting the decision to buy housing in Vietnam, including income, location, quality of work, living environment, prices, and references. These are factors associated with the character and local characteristics of Vietnamese people

Three decades of house purchase decisions: a scoping review and thematic classification

PurposeThis study aims to develop a database of existing academic information in house purchase decision (HPD) using systematic literature review (SLR), to facilitate worldwide advancement of research under HPD domain.Design/methodology/approachThis research examined papers from two reputable databases – Scopus and Google Scholar – from 1992 to 2022 using a scoping review technique (Arksey and O’Malley, 2005) and a theme analysis method. Out of 374, 181 articles fit the inclusion parameters and were evaluated using the theme analysis approach.FindingsData from 181 articles was evaluated thematically to create a thematic map of HPD research. Five main themes and their sub-themes were identified: consumer behaviour, housing attributes, factors influencing purchasing decisions, investment analysis and demographics, which proved essential in understanding HPD and customer preferences for house purchase.Practical implicationsData from 181 articles were evaluated thematically to create a thematic map of HPD research. This SLR intends to provide useful new insights on consumer concerns about home purchases in the rapidly developing residential real estate market and the issues that marketers, housing sector stakeholders, real estate industry and existing and future researchers should prioritize.Originality/valueThis research is unique such that it is the only 30-year-long SLR on the subject matter of HPD. This paper makes a significant contribution to residential real estate domain signifying the present state of research in HPD.

Behavioral Determinants Of Housing Consumer Purchasing Decisions In Medan City

This study aims to determine and analyze the influence of intrinsic and extrinsic factors on the behavior of housing purchase decisions in the city of Medan. The type of research used in this research is associative research with a quantitative approach. The population in this study is housing consumers in the city of Medan, North Sumatra whose number cannot be determined/unlimited. The sampling method used a nonprobability sampling method with a purposive sampling technique, where the researcher collects information from the most complete and fulfills various information needs. And accidental sampling provides questionnaires directly/coincidentally to meet the respondents who are said to be appropriate and worthy of the existing research. with the zikmund formula so that the number of research samples was 96 respondents. Methods of data collection is done by means of questionnaires and interviews. The data analysis method used is multiple linear regression analysis. Results Based on the research obtained partially and simultaneously, it shows that intrinsic and extrinsic factors influence purchasing decision behavior in the city of Medan. The results of the coefficient of determination test obtained the Adjusted R square value of 0.768 (76.8%). This shows that the intrinsic and extrinsic factors are able to explain the behavior of purchasing decisions by 76.8%, while the remaining 23.2% is influenced by other variables not examined in this study.

A Study on Real Estate Purchase Decisions

This study examines the influence of joint information framing and personality traits on housing purchase decisions, specifically in the context of the COVID-19 pandemic. Using a between-subjects experimental design, we found that negative framing has a stronger impact on purchase decisions for optimistic participants compared with pessimistic ones. Additionally, high-price anchoring has a greater negative effect on purchase intention for pessimists, while low-price anchoring has a stronger positive effect for optimists. Furthermore, our findings suggest that the low-price real estate market has been less severely impacted by the pandemic than the high-price market. The real estate market seeks to minimize information asymmetry to achieve sustainable and healthy development. These results contribute to creating inclusive, safe, and sustainable cities.

Housing Price and Interest Rate Hike: A Tale of Five Cities in Australia

Australian housing prices are reported to be overvalued and unaffordable for the past two decades. Many researchers and practitioners have attributed the persistent growth in housing prices to the prolonged period of low borrowing costs. However, due to inflationary pressure, the Central Bank has raised its cash rate consecutively in recent months. This paper aims to examine whether interest rate rises affect housing price in different parts of Australia. Evidence generated from the analysis reported bipolar results between the large and smaller cities, whereby housing prices in Sydney and Melbourne show a significant negative relationship with interest rate changes while Brisbane and the Gold Coast and Perth and Adelaide, respectively, are showing negative but insignificant results during the study period. Short-run trend projections on housing prices indicate that Sydney, Melbourne, Brisbane and the Gold Coast are on a downward trend while Adelaide and Perth will maintain its current momentum before plateauing out later next year. Likewise, control variables, such as oil prices, inflation rate and stock market performance, are found to be related to housing prices in larger cities only. These findings have implications on housing policy, house purchase decisions and investment portfolio management strategy.

House price forecasting using the multi-level modelling method in Sydney

PurposeThis paper aims to develop a house price forecasting model to investigate the impact of neighbourhood effect on property value.Design/methodology/approachMulti-level modelling (MLM) method is used to develop the house price forecasting models. The neighbourhood effects, that is, socio-economic conditions that exist in various locations, are included in this study. Data from the local government area in Greater Sydney, Australia, has been collected to test the developed model.FindingsResults show that the multi-level models can account for the neighbourhood effects and provide accurate forecasting results.Research limitations/implicationsIt is believed that the impacts on specific households may be different because of the price differences in various geographic areas. The “neighbourhood” is an important consideration in housing purchase decisions.Practical implicationsWhile increasing housing supply provisions to match the housing demand, governments may consider improving the quality of neighbourhood conditions such as transportation, surrounding environment and public space security.Originality/valueThe demand and supply of housing in different locations have not behaved uniformly over time, that is, they demonstrate spatial heterogeneity. The use of MLM extends the standard hedonic model to incorporate physical characteristics and socio-economic variables to estimate dwelling prices.

Dynamic capitalization effects of educational facilities during different market stages: An empirical study in Hangzhou, China

Educational facilities have influenced residents’ housing purchase decisions. Existing studies mainly constructed a cross-sectional model to obtain a static coefficient. However, the housing market in China experienced rapid development and significant fluctuations during the past decades. Such changes may influence homebuyers’ valuation of educational facilities over time. In addition, the preferences of households of high-, middle-, and low-priced housing on educational facilities over the market stage have rarely been studied. To fill the gaps, this paper utilized a dataset of the housing market in Hangzhou, China from 2007 to 2019, including comprehensive building, location, neighborhood and educational characteristics. The hedonic price model, spatial lag model, spatial error model and quantile regression model were constructed. Results show that the educational capitalization significantly changes over time, and is correlated with the market stage. The implicit value of the quality of primary and secondary schools and university accessibility consistently increases in a stable market, but shows different features in market expansion. Moreover, households of high-, middle-, and low-priced housing value educational facilities differently, which is also influenced by the market stage. Varying features are found in this social heterogeneity of educational capitalization in different market stages. This study enriches existing literature by measuring the variation in educational capitalization and its social heterogeneity during different market stages. Implications are provided for future educational policymaking under particular market circumstances.

가계부채 및 세금부담이 무주택 가구의 주택 매수 의사결정에 미친 영향

Based on the finance panel data of the Korea Institute of Public Finance, this study investigates the effects of household debts and tax burdens on housing purchase decision. The results of this study shows that as household debts increases, housing purchase decision becomes strengthened while as related tax burdens increases, the decision becomes weakened. The former result implies that household debts can be generally regarded as accrued in order to purchase houses with the expectation of rising future housing prices. The latter result implies that the capitalization effect, reduced housing demand due to related future tax burdens in acquisition and holding phases, has an important effect on housing purchase decision. Furthermore, several households’ subjective recognition factors are shown to have incremental effect on those causalities.

The Conceptual Framework of Housing Purchase Decision-Making Process

Buying a housing property is exciting because it marks the beginning of a whole new chapter. Before start looking for a house, it is very important to understand the intention of buying a housing property, whether it is as an investment or for self-occupation. This will affect the type of property to be purchased, whether it is a landed property or a high-rise building. Many potential homebuyers, especially first-time homebuyers, make buying mistakes for the wrong reasons, which makes the process of trying to sell their homes long and expensive. Deciding on the type of property is one thing, but then you must weigh all the pros and cons, as well as the average house price, which can vary greatly. Housing property is a commodity and involves multiple processes. Therefore, this article intends to study and develop the conceptual framework of the housing purchase decision-making process. This article first reviews the conceptual definition of housing purchase intentions and decisions. Next, this article reviews past research to understand the similarities of housing purchase intentions, preferences, and decision-making, and to develop a basic conceptual framework. This article also discusses consumer behaviour as homebuyers in the housing purchase decision-making process.