An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach

Roberto Cervelló-Royo, Marina Segura, Regina García-Pérez and Baldomero Segura-García del Río
Additional contact information
Roberto Cervelló-Royo: Faculty of Business Administration and Management, Economics and Social Sciences Department, Universitat Politècnica de València, Camino de Vera s/n, 46022 Valencia, Spain
Marina Segura: Financial Economics and Statistics Department, Campus de Somosaguas, Universidad Complutense de Madrid, 28223 Madrid, Spain
Regina García-Pérez: Faculty of Business Administration and Management, Economics and Social Sciences Department, Universitat Politècnica de València, Camino de Vera s/n, 46022 Valencia, Spain
Baldomero Segura-García del Río: Faculty of Business Administration and Management, Economics and Social Sciences Department, Universitat Politècnica de València, Camino de Vera s/n, 46022 Valencia, Spain

Sustainability, 2021, vol. 13, issue 14, 1-16

Abstract: This paper examines key aspects of the behavior of housing demand from a sustainable standpoint. Most studies have mainly focused on housing supply, looking at quantitative predictions without considering the qualitative relationship found between housing values and housing demand on a sustainable and microeconomic scale. We used a multicriteria decision methodology (analytic hierarchy process—AHP) for the analysis of preferences in demand, based on the theory of multi-attribute utility of housing, to determine the relative importance of each characteristic of housing and its influence on the decision-making process. For this purpose, we carried out the study over three main groups of stakeholders in the housing market: real estate surveyors, real estate agents, and housing buyers (the latter representing the housing demand). Results show that although there might be some slight discrepancies among the three groups in the decision-making process and the weighting of housing attributes, the three groups agree in most of the process, especially when defining the criteria and the importance that each criterion has on the process of valuation. This study provides important managerial and sustainable implications for the real estate market related to urban public policy, as we highlight which criteria are most preferred.

Keywords: preferences; sustainable real estate market; housing demand; housing supply; multicriteria; AHP; public urban policies (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/13/14/7550/pdf (application/pdf)
https://www.mdpi.com/2071-1050/13/14/7550/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:14:p:7550-:d:589413

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().