Consumer Motives Toward Apartment Purchase: A Study From Consumers’ Perspective

Abstract

The aim of this study is to find out the motives that affect consumer
apartment purchase behavior. Most real estate study is based on consumer behavior
with economic approach to real estate. But this research explores consumers’
emotional drives which explain consumer behavior in case of a high-involvement
product such as an apartment. In-depth interviews help to elicit consumer inner
feelings of purchasing an apartment. This study finds that emotional motives
surround consumers from planning to final step of purchase an apartment. In
addition to logical economic decisions about buying an apartment, consumers’
environmental factors, social status, feelings, experiences, marketing
communication, strong references, self confidence of investment, fear of losing
money, and other subconscious factors should be taken into account to understand
consumer apartment purchase decision making.