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Consumers' Choice Factors for Buying Residential Property in the Philippines: An Empirical Investigation

Author

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  • Jose Mari M. Lee

    (University of Santo Tomas Graduate School,Manila, Philippines)

  • Eduardo G. Ong

    (University of Santo Tomas Graduate School,Manila, Philippines)

Abstract

The researcher studied and investigated the level of importance of consumers’ choice mainly price, location, safety and security, facilities and amenities, and exclusivity in the Philippines. This research was limited to 400 potential residential property buyers from any of the top 10 real estate developers in the Philippines. This study focused on 5 consumers’ choice factors mainly price, location, safety and security, facilities and amenities, and exclusivity towards purchase intention of residential property in the Philippines. Among the 5 consumers’ choice factors for buying residential property, the number one consideration is the safety and security (Mean = 5.530), followed by price (Mean = 5.488), location (Mean = 5.424), facilities and amenities (Mean = 5.266), and exclusivity (Mean = 4.983). From this study, four out of five consumers’ choice factors are rated very high important namely: price, location, safety and security, and facilities and amenities. On the other hand, exclusivity is rated of high importance in terms of buying a residential property. Key Words: Consumers' choice, Philippines, real estate, residential property

Suggested Citation

  • Jose Mari M. Lee & Eduardo G. Ong, 2020. "Consumers' Choice Factors for Buying Residential Property in the Philippines: An Empirical Investigation," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 9(4), pages 271-276, July.
    • Handle: RePEc:rbs:ijbrss:v:9:y:2020:i:4:p:271-276
    DOI: 10.20525/ijrbs.v9i4.732
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    References listed on IDEAS

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    1. Hassanudin Mohd Thas Thaker & K. Chandra Sakaran, 2016. "Prioritisation of key attributes influencing the decision to purchase a residential property in Malaysia," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 9(4), pages 446-467, October.
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