A study on Factors Influencing Home Buyer Preferences for Condominium in Kuala Lumpur, Malaysia

Chia, Pui Wen (2022) A study on Factors Influencing Home Buyer Preferences for Condominium in Kuala Lumpur, Malaysia. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

Text RES#Chia Pui Wen#19WVR12294 - PUI WEN CHIA.pdf Restricted to Registered users only Download (2MB)

Abstract

Recent years, a large number of unsold houses in the local housing market is creating a significant challenge for local housing developers. One of the reasons for large number of unsold houses is the mismatch between delivered housing characteristics and prospective homebuyer preferences. Besides that, local housing developers often adopt the sell-then-build marketing strategies. Then, the buyer can only imagine how the future property look based on the layout plan and property description in the brochure. Therefore, the research objectives are to identify homebuyer preferences for condominium and to identify the factor that influences the homebuyer preferences in Kuala Lumpur. In this research, the sources to collect the data are primary data and secondary data. The primary data is used Google Form to collect the questionnaire survey and the respondents who household monthly income between RM5,001 – RM11,000 are been the target population. Secondary data is analysis the published journal and article as well as the online news. According to research, there are three aspects of housing preferences on condominium such as neighbourhood and surrounding condominium, facilities within condominium and condominium unit. Besides that, there also have four factors will influence homebuyers preferences which consist of locational, neighbourhood, financial and structural attribute. After analysis, the results show locational factor may main consideration that may influences buyer decision when buying condominium among other factor. Lastly, the recommendation to developers from this study is they can identify the current homebuyers‘ preference before launched any project. It can reduce delivery mismatch product to the homebuyers as well as reduce the overhang problems.