Unveiling buyers’ preferences for privately developed affordable housing: a study in Kolkata, India

Sujoy Biswas and Arjun Mukerji

International Journal of Housing Markets and Analysis, 2024, vol. 18, issue 4, 1059-1083

Abstract: Purpose - The purpose of this study is to examine the buyers’ preferences influencing the purchase of privately developed affordable housing in Kolkata and to determine whether unsold houses result from misalignment with these preferences. Design/methodology/approach - The literature review and user-opinion survey identified 119 independent variables that indicate buyers’ preferences. A questionnaire survey of 383 households in affordable housing units from 32 housing complexes in Kolkata recorded buyers’ preferences and satisfaction against the independent variables grouped under five levels of characteristics. The product weights of variables derived from the rank sum method and percentage satisfaction give the Utility Score. Multivariate regression and univariate linear regressions were conducted to determine the significance of each Level of characteristics and each variable, identifying the significant variables that would affect the sale of affordable houses. Findings - The multivariate regression analysis has indicated that 68.56% of the variation in the percentage of unsold houses was explained by the five utility scores, which affirms that misalignment with buyers’ preferences significantly affects the sale of privately developed affordable houses. Furthermore, building and neighbourhood-level utility show the highest significance as predictors, while city-level and miscellaneous utility have moderate significance, but housing complex-level utility lacks statistical significance. Originality/value - This study addresses a research gap in privately developed affordable housing in Kolkata, enhancing understanding of buyer preferences in this segment.

Keywords: Buyers’ preferences for housing; Housing utility; Kolkata housing market analysis; Percentage of scale maximum (%SM); Privately developed affordable housing; Rank-sum method (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:ijhma-01-2024-0007

DOI: 10.1108/IJHMA-01-2024-0007

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