IDEAS home Printed from https://ideas.repec.org/a/fan/mcmcmc/vhtml10.3280-mc2017-003009.html
   My bibliography  Save this article

Consumers? preferences in the estate market: An explorative research on the residential product

Author

Listed:
  • Oronzo Trio
  • Antonio Iazzi

Abstract

The aim of this paper is to investigate consumers? preferences in the real estate industry, especially in the residential field, in order to provide a contribution to the strategic planning and positioning of real estate enterprises. The existing literature highlighted some specific characteristics of the building product and their role in housing choice. This paper explores the house attributes through a qualitative research carried out by the use of some semi-structured interviews in three focus groups and, in a second phase, by the laddering method. We have chosen three categories of potential purchasers according their age: less than 30 years (20-30), between 30 and 40, and over 40. In this way we describe the different paths taken in choosing the ideal home, and the attributes, benefits and values that explain each personality. The discussion contents have been elaborated in order to obtain three different hierarchical value maps, by which the existing links are represented. Common traits in some cases and different characteristics in others emerged, providing interesting insights into the purchasing drivers, the positioning of firms and also some inputs for further analysis.

Suggested Citation

  • Oronzo Trio & Antonio Iazzi, 2017. "Consumers? preferences in the estate market: An explorative research on the residential product," MERCATI & COMPETITIVIT?, FrancoAngeli Editore, vol. 2017(3), pages 147-167.
  • Handle: RePEc:fan:mcmcmc:v:html10.3280/mc2017-003009
    as

    Download full text from publisher

    File URL: http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=60023&Tipo=ArticoloPDF
    Download Restriction: Single articles can be downloaded buying download credits, for info: https://www.francoangeli.it/DownloadCredit
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Cova, Bernard & Hoskins, Steven, 1997. "A twin-track networking approach to project marketing," European Management Journal, Elsevier, vol. 15(5), pages 546-556, October.
    2. Kenneth Y. Chay & Michael Greenstone, 2005. "Does Air Quality Matter? Evidence from the Housing Market," Journal of Political Economy, University of Chicago Press, vol. 113(2), pages 376-424, April.
    3. Vahid Moghimi & Mahmud Bin Mohd Jusan, 2015. "Priority of structural housing attribute preferences: identifying customer perception," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 8(1), pages 36-52, March.
    4. Lale Berkoz & Ş. Şence Turk & Ömer L. Kellekci, 2009. "Environmental Quality and User Satisfaction in Mass Housing Areas: The Case of Istanbul," European Planning Studies, Taylor & Francis Journals, vol. 17(1), pages 161-174, January.
    5. Anna Dubois & Lars-Erik Gadde, 2002. "The construction industry as a loosely coupled system: implications for productivity and innovation," Construction Management and Economics, Taylor & Francis Journals, vol. 20(7), pages 621-631.
    6. Botschen, Gunther & Hemetsberger, Andrea, 1998. "Diagnosing Means-End Structures to Determine the Degree of Potential Marketing Program Standardization," Journal of Business Research, Elsevier, vol. 42(2), pages 151-159, June.
    7. Jae Hong Kim & Francesca Pagliara & John Preston, 2005. "The Intention to Move and Residential Location Choice Behaviour," Urban Studies, Urban Studies Journal Limited, vol. 42(9), pages 1621-1636, August.
    8. Cova, Bernard & Mazet, Florence & Salle, Robert, 1996. "Milieu as a pertinent unit of analysis in project marketing," International Business Review, Elsevier, vol. 5(6), pages 647-664, December.
    9. Cova, Bernard & Salle, Robert & Vincent, René, 2000. "To bid or not to bid: screening the Whorcop project," European Management Journal, Elsevier, vol. 18(5), pages 551-560, October.
    10. Bernard Cova & Pervez N. Ghauri & Robert Salle, 2002. "Project marketing : Beyond competitive bidding," Post-Print hal-02298023, HAL.
    11. W.A.V. Clark & Jun L. Onaka, 1983. "Life Cycle and Housing Adjustment as Explanations of Residential Mobility," Urban Studies, Urban Studies Journal Limited, vol. 20(1), pages 47-57, February.
    12. Karen Fierro & Thomas Fullerton & K. Donjuan-Callejo, 2009. "Housing Attribute Preferences in a Northern Mexico Metropolitan Economy," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 37(2), pages 159-172, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Welch, Catherine, 2005. "Multilateral organisations and international project marketing," International Business Review, Elsevier, vol. 14(3), pages 289-305, June.
    2. Alajoutsijärvi, Kimmo & Mainela, Tuija & Salminen, Risto & Ulkuniemi, Pauliina, 2012. "Perceived customer involvement and organizational design in project business," Scandinavian Journal of Management, Elsevier, vol. 28(1), pages 77-89.
    3. Oxana SAVCIUC & Lucia CASAP, 2015. "The impact of project marketing on the projects finality," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 1(1), pages 1-85, June.
    4. Lucija Muehlenbachs & Elisheba Spiller & Christopher Timmins, 2015. "The Housing Market Impacts of Shale Gas Development," American Economic Review, American Economic Association, vol. 105(12), pages 3633-3659, December.
    5. Michael Greenstone & Rema Hanna, 2014. "Environmental Regulations, Air and Water Pollution, and Infant Mortality in India," American Economic Review, American Economic Association, vol. 104(10), pages 3038-3072, October.
    6. Kamruzzaman, Md. & Baker, Douglas & Washington, Simon & Turrell, Gavin, 2013. "Residential dissonance and mode choice," Journal of Transport Geography, Elsevier, vol. 33(C), pages 12-28.
    7. Douglas Almond & Yuyu Chen & Michael Greenstone & Hongbin Li, 2009. "Winter Heating or Clean Air? Unintended Impacts of China's Huai River Policy," American Economic Review, American Economic Association, vol. 99(2), pages 184-190, May.
    8. Linda T. M. Bui & Christopher J. Mayer, 2003. "Regulation and Capitalization of Environmental Amenities: Evidence from the Toxic Release Inventory in Massachusetts," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 693-708, August.
    9. repec:ces:ifodic:v:14:y:2016:i:1:p:19204333 is not listed on IDEAS
    10. Nishitateno, Shuhei & Burke, Paul J., 2021. "Willingness to pay for clean air: Evidence from diesel vehicle registration restrictions in Japan," Regional Science and Urban Economics, Elsevier, vol. 88(C).
    11. Sihem Ben Mahmoud-Jouini, 2000. "Innovative supply-based strategies in the construction industry," Construction Management and Economics, Taylor & Francis Journals, vol. 18(6), pages 643-650, December.
    12. Guignet, Dennis & Jenkins, Robin R. & Belke, James & Mason, Henry, 2023. "The property value impacts of industrial chemical accidents," Journal of Environmental Economics and Management, Elsevier, vol. 120(C).
    13. Hyunjoo Lee & Misuk Lee & Sesil Lim, 2018. "Do Consumers Care about the Energy Efficiency of Buildings? Understanding Residential Choice Based on Energy Performance Certificates," Sustainability, MDPI, vol. 10(11), pages 1-18, November.
    14. von Graevenitz, Kathrine, 2018. "The amenity cost of road noise," Journal of Environmental Economics and Management, Elsevier, vol. 90(C), pages 1-22.
    15. Waights, Sevrin, 2018. "Does the law of one price hold for hedonic prices?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 55(15), pages 3299-3317.
    16. Arthi, Vellore & Parman, John, 2021. "Disease, downturns, and wellbeing: Economic history and the long-run impacts of COVID-19," Explorations in Economic History, Elsevier, vol. 79(C).
    17. Helen Tauchen & Ann Dryden Witte, 2001. "Estimating Hedonic Models: Implications of the Theory," NBER Technical Working Papers 0271, National Bureau of Economic Research, Inc.
    18. Nicolai V. Kuminoff, 2018. "Can Understanding Spatial Equilibria Enhance Benefit Transfers for Environmental Policy Evaluation?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(3), pages 591-608, March.
    19. Aaron Sojourner, "undated". "Partial identification of willingness-to-pay using shape restrictions with an application to the value of a statistical life," Working Papers 0110, Human Resources and Labor Studies, University of Minnesota (Twin Cities Campus).
    20. Cécile Couharde & Rémi Generoso, 2024. "Assessing the Impact of National Air Quality Standards on Agricultural Land Values: Insights from Corn and Soybean Regions," Working Papers hal-04503777, HAL.
    21. Cecilia Öst, 2012. "Housing and children: simultaneous decisions?—a cohort study of young adults’ housing and family formation decision," Journal of Population Economics, Springer;European Society for Population Economics, vol. 25(1), pages 349-366, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fan:mcmcmc:v:html10.3280/mc2017-003009. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stefania Rosato (email available below). General contact details of provider: http://www.francoangeli.it/riviste/sommario.aspx?IDRivista=210 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.