A conjoint analysis of buyers’ preferences for residential property
This study evaluates the preferences of middle-high income earners for newly designed high-cost residential property attributes in their purchase decision, by using the conjoint method, whereby the buyers’ ‘trade-offs’ of different product attributes are measured. The fractional factorial design...
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my.utm.303862017-10-13T13:56:43Z http://eprints.utm.my/id/eprint/30386/ A conjoint analysis of buyers’ preferences for residential property Mar Iman, Abdul Hamid Fu, Yek Pieng Christopher, Gan G Geography (General) This study evaluates the preferences of middle-high income earners for newly designed high-cost residential property attributes in their purchase decision, by using the conjoint method, whereby the buyers’ ‘trade-offs’ of different product attributes are measured. The fractional factorial design is used to create eighteen sets of product profiles based on a combination of the six most important attributes that determine the purchase decision of buyers. The preference rating of the respondents is then decomposed to yield part-worth utility for each attribute level. A regression analysis shows that the most pertinent attributes of high-cost residential properties trade-off by the respondents, are type of property, design and features, price, built-up area, location, and reputation of the developer. Together, these attribute explain about 74% of the buyers’ expressed utility of the product purchased. By using a hold-out sample of respondents, a conjoint analysis has predicted the buyers’ expressed utility with a reasonable level of accuracy. 2012 Article PeerReviewed text/html en http://eprints.utm.my/id/eprint/30386/2/03.pdf Mar Iman, Abdul Hamid and Fu, Yek Pieng and Christopher, Gan (2012) A conjoint analysis of buyers’ preferences for residential property. International Real Estate Review, 15 (1). pp. 73-105. ISSN 1029-6131 |
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G Geography (General) Mar Iman, Abdul Hamid Fu, Yek Pieng Christopher, Gan A conjoint analysis of buyers’ preferences for residential property |
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This study evaluates the preferences of middle-high income earners for newly designed high-cost residential property attributes in their purchase decision, by using the conjoint method, whereby the buyers’ ‘trade-offs’ of different product attributes are measured. The fractional factorial design is used to create eighteen sets of product profiles based on a combination of the six most important attributes that determine the purchase decision of buyers. The preference rating of the respondents is then decomposed to yield part-worth utility for each attribute level. A regression analysis shows that the most pertinent attributes of high-cost residential properties trade-off by the respondents, are type of property, design and features, price, built-up area, location, and reputation of the developer. Together, these attribute explain about 74% of the buyers’ expressed utility of the product purchased. By using a hold-out sample of respondents, a conjoint analysis has predicted the buyers’ expressed utility with a reasonable level of accuracy. |
format |
Article |
author |
Mar Iman, Abdul Hamid Fu, Yek Pieng Christopher, Gan |
author_facet |
Mar Iman, Abdul Hamid Fu, Yek Pieng Christopher, Gan |
author_sort |
Mar Iman, Abdul Hamid |
title |
A conjoint analysis of buyers’ preferences for residential property |
title_short |
A conjoint analysis of buyers’ preferences for residential property |
title_full |
A conjoint analysis of buyers’ preferences for residential property |
title_fullStr |
A conjoint analysis of buyers’ preferences for residential property |
title_full_unstemmed |
A conjoint analysis of buyers’ preferences for residential property |
title_sort |
conjoint analysis of buyers’ preferences for residential property |
publishDate |
2012 |
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http://eprints.utm.my/id/eprint/30386/2/03.pdf http://eprints.utm.my/id/eprint/30386/ |
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13.2014675 |