Enhanced Approach of Decision Making in Determining Contemporary Critical Preferential Factors and Location Decisions for Residential Project using MCDM Technique (S/O 13903)

• Main Authors: Lamsali, Hendrik, Mad Lazim, Halim, Abdul Rahim, Mohd Kamarul Irwan, Osman, Wan Nadzri, Salleh, Mohamed Najib
• Format: Monograph
• Language: English
• Published: UUM 2019
• Subjects: T Technology (General)
• Online Access: https://repo.uum.edu.my/id/eprint/31976/1/13903-%20Technical%20Report.pdf; https://repo.uum.edu.my/id/eprint/31976/

Since 2011 has seen demand for residential properties are slowing down and many of the projects has seen up to 30% houses unsold in many states in Malaysia. In order to address this issue, it is imperative to know what the market really wants as house buyers are becoming more cautious and selective before making purchases. Although factors such as consumers’ purchasing power, and inflation plays significant roles, ability to understand latest changes in consumers’preferences is also essential. Based on previous empirical studies, there has been interesting debate about consumers’ housing preferences. Therefore, this research intends to develop an understanding on which residential properties’ attributes, as defined by locational, neighborhood, structural, financial, socio-cultural and.developers’ attributes contribute to home owning preferences among homebuyers in Malaysia. The primary aim of this study is to determine contemporary buyers’ preferential and priority when purchasing new residential property. The proposed research employs the Analytical Hierarchy Process (AHP) method to find the answers. A pairwise comparison analysis using AHP-type questionnaire is carried out to determine prioritization of buyers' preferences. 102 respondents have participated in this study. The findings show that the most prioritized main criteria are financial factor followed by location and socio¬ cultural. Analysis on overall sub-criterion ranks safety as the highest priority/preference followed by property's sales price, physical structure of the property (size and type), and warranty offered by the developer. Correlating profile of the respondents with the pairwise analysis highlighted that the findings are more representative of young educated Malay respondents with limited disposable income and young family. Overall, the findings are expected to be beneficial to all relevant stakeholders namely developers and related government agencies such as the Ministry of Housing and Local Authorities. The study can be further expanded by conducting consumers’ and markets’ segmentation analysis. Developers’ preferences and priorities can also be explored further using the Multiple-criteriadecision-making (MCDM) techniques.