A Study on Attributes that Affect Homebuyers Purchasing Decision for High-Rise Residential in Kuala Lumpur

See, Ker Li (2021) A Study on Attributes that Affect Homebuyers Purchasing Decision for High-Rise Residential in Kuala Lumpur. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

In Maslow’s Hierarchy of Needs theory, the house is one of every individual's basic physiological needs. Due to the land limited and the real estate economy declined, high-rise residential has become a new lifestyle or trend in the urban area such as Kuala Lumpur, Johor Bahru, Penang, and Selangor curb the issue of over-population. However, the imbalance of the supply-demand in the real estate properties has resulted in the overhang's situation worsening in Malaysia, especially in the high-rise residential accounted for most of the overhang units. Thus, the unsold units in the high-rise residential have reflected the housing developers' units have not met the homebuyers’ preferences and needs. This study aims to reveal the priority preference affect homebuyers in purchasing high-rise residential in Kuala Lumpur. The objective of this study is to identify the homebuyers’ preference for purchasing and determine the priority preference affect homebuyer purchasing high-rise residential in Kuala Lumpur. Apart from that, an online questionnaire survey is adopted and distributed to potential homebuyers in Kuala Lumpur. The data is collected, gathered, and analysed using descriptive analysis, cross-tabulation analysis, and relative importance index (RII). Six (6) identified factors that have driven up the housing preference, influencing homebuyer purchasing. Based on the result, the neighbourhood factor is the most prioritized housing preference that affects the homebuyers' purchasing the high-rise residential. This research study provides inspiration and current homebuyers’ preference for the housing developer to develop the high-rise residentially and give the potential homebuyers' critical features to consider purchasing.