Consumer Behaviour in Real Estate, in India
||Consumer Behaviour in Real Estate, in India
||21st Annual European Real Estate Society Conference in Bucharest, Romania
||An identical house in a different location is not priced the same. This is because a home-buyer does not pay only for the physical construction but for a lot of externalities like location, amenities, etc. Many authors have pointed out that most home-buyers have to make a trade-off, such as location for the size of the house, etc. In this paper, the researcher has tried to explore which segment of the urban home-buyers, give priority to which factor. The Hypotheses are that Price is the most important influencing factor for buyers of a small house ( 1 Bedroom + Hall + Kitchen), Location is the most important influencing factor for a moderate size house ( 2 Bedrooms + Hall + Kitchen) and Amenities is the most important influencing factor for a large house ( 3 Bedrooms + Hall + Kitchen). The study was carried out in Pune ( in India). A sample of 600 home-buyers ( 200 of 1 BHK, 200 of 2 BHK and 200 of 3 BHK, who had recently purchased a house were administered a structured questionnaire and the empirical analysis proved that for 1 BHK and for 2 BHK, the hypotheses were proved correct, but for 3 BHK the Product characteristics were the most important influencing factor instead of the amenities.
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||G : Market Research, Analysis & Forecasting
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