Navigating real estate purchase decisions: an interplay of influential factors

Asha Jaisy Sam, Benny Godwin J. Davidson, Jossy P. George and Peter Varghese Muttungal

International Journal of Housing Markets and Analysis, 2024, vol. 18, issue 5, 1334-1353

Abstract: PurposeThe purpose of this study is to investigate the relationship between social trends, peer influence, personal attitudes regarding real estate purchase decisions, perception of long-term property value and the mediating effect of hedging in influencing property and real estate purchases.Design/methodology/approachUsing a combination of quantitative surveys, this study aims to provide a comprehensive knowledge of the factors influencing real estate buying decisions. Data were obtained from 399 young consumers in four Indian cities. Using structural equation modeling, the suggested conceptual framework is examined.FindingsThe study’s findings suggest that attitude plays an important role in influencing real estate purchase decisions. Young adults also tend to look for long-term gains or value when purchasing a home. Developing durable products for the customers is the best way to grow business, according to the results.Originality/valueTo the best of the authors’ knowledge, this is the first paper that examines the role of sentimental, personal and financial factors in real estate purchase decisions. The study provides insights into how these factors interact and affect the decisions of consumers in real estate. The authors hope that the findings will be useful for real estate professionals to better tailor their services to meet the needs of their customers.

Keywords: Attitude; Social trends; Peer influence; Hedging; Long term value; Real estate purchase decision (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:ijhma-05-2024-0062

DOI: 10.1108/IJHMA-05-2024-0062

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