Attributes influencing buying of residential apartments

Ajoy Kumar Dey

International Journal of Entrepreneurship and Innovation Management, 2016, vol. 20, issue 5/6, 330-348

Abstract: Several previous studies have probed different aspects of the decision-making process of home buyers worldwide; but we have a limited understanding of the factors that influence the choice of Indian buyers of residential apartments and their post purchase satisfaction. Extant literature on consumer satisfaction of buyers of apartments suggests that the satisfaction and willingness to recommend are impacted by dissatisfaction components; basic and lifestyle amenities; basic and value added features and external influencing factors such as promotion, distance, safety and security, environment at the location and financial. By deploying structural equation models, this study extracts the factors that buyers of residential apartment in India consider before purchase. It is found that the characteristics of the building have no significant effect on buyer's residential satisfaction. Further, characteristics do not play the role of mediating variable between external influencing factors and satisfaction. Factors like escalation in prices; clogged kitchen outlet; dimensions of built up area; readiness of sample flat; quality of after sales service; safety and security features and the environment friendly initiatives taken produce significant effects on satisfaction.

Keywords: residential apartments; apartment characteristics; external influences; cognitive dissonance; post purchase satisfaction; apartment purchasing; home buyers; India; customer satisfaction; structural equation modelling; SEM. (search for similar items in EconPapers)
Date: 2016
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