Phuong
Viet Le-Hoang
Ho Chi Minh
City Open University, Vietnam
Industrial
University of Ho Chi Minh City, Vietnam
E-mail: lehoangvietphuong@iuh.edu.vn
Vi
Truc Ho
Industrial University
of Ho Chi Minh City, Vietnam
E-mail: viht18707@sdh.uel.edu.vn
Nhan
Trong Phan
Industrial
University of Ho Chi Minh City, Vietnam
E-mail: nhanpt19707@sdh.uel.edu.vn
Truc
Thanh Thi Le
Industrial
University of Ho Chi Minh City, Vietnam
E-mail: lethithanhtruc@iuh.edu.vn
Submission: 7/15/2019
Revision: 9/18/2019
Accept: 10/2/2019
ABSTRACT
The purpose of this study is to identify the factors affecting the intention of buying a townhouse by customers in District 9, Ho Chi Minh City. To conduct the research, there is 192 valid respondents and the authors determine six factors affecting the intention of buying customers' houses in District 9 of Ho Chi Minh City: developer brand, price, location, housing characteristics, social influence and legal. The results of the exploratory factor analysis (EFA) show that all of these six factors affect the intention to buy townhouses in the District 9 area of customers. The contribution of the study is that the authors confirm the theory of Ajzen and Fishbein (1975), Ajzen (1985), Ajzen (1991) and compare some empirical studies of Salah et al. (2015), Julius et al. (2016), Haddad et al. (2011), Nguyen (2013), Vo (2013), Vo (2016), Pham (2013). Also, from qualitative and research-related studies, the authors adjusted the scale and analyzed data in the current context. Based on that, research and propose solutions to improve the intention of buying houses in District 9 of customers and orienting for further research.
Keywords: Developer brand; price; location; housing characteristics; social influence; legal
1.
INTRODUCTION
In the context of Vietnam's current
economic development, buying a home to live in or invest has become more
balanced than ever. In Ho Chi Minh City, With the advantage of being the
gateway of the whole Southern region, District 9 is being invested by Ho Chi
Minh City, synchronous planning on all items such as economy, culture, and
society. Besides, District 9 also promises to bring "breakthrough" to
the local real estate market in the coming time, thanks to the attraction of
many investors' capital with the advantages: Fullbright University, High-tech
zone with the world's leading corporations such as Samsung, Schneider, Intel,
Microsoft.
However, customers still have
concerns about buying houses for many reasons, such as many procedures, legal.
It is unclear, and the price is too high. Because of not grasping customers'
psychology, many real estate enterprises find it hard to find opportunities to
reach customers. Therefore, the authors have conducted this research for
customers to understand customer psychology, conditions better to meet current
customers.
2.
LITERATURE REVIEW
Buying intention is described as
customer willingness to purchase products (TIRTIROGLU; ELBECK, 2008). Sales of
the business can be surveyed based on the customer's purchase intent, and
predicting the intention to buy is starting to predict the actual buying
behavior of customers (HOWARD et al., 1967). Also, based on many theories, the
intention to purchase is the basis for predicting future demand (WARSHAW, 1980;
BAGOZZI, 1983; AIJEN; FISHBEIN, 1975).
Dodds et al. (1991) said that the
intention to buy represents the ability of consumers to buy a specific product.
Long et al. (2010) conclude that the intention to buy represents what an
individual wants to buy in the future. The intention to buy is "what we
think we will buy" (REZVANI et al., 2012). It can also be defined as an
active decision that shows the behavior of the individual depends on the
product (REZVANI et al., 2012).
Some previous studies point out the
differences between the intention to buy and the actual purchase (WARSHAW,
1980; MULLET; KARSON, 1985; PICKERING; ISHERWOOD, 1974) and that difference is
customer perception. However, it does not mean that the study of intention is
not meaningful. Some studies on the relationship of buying intentions and
buying actions have made clear indications about this relationship (NEWBERRY et
al., 2003; MOROWITZ; SCHMITTLEIN,
1992; BENNAOR, 1995; GRANBOIS; SUMMERS, 1974; SHEPPARD et al., 1988; MOROWITZ
et al., 1996).
Theory of Reasoned Action (TRA) was
developed by Ajzen and Fishbein (1975), Ajzen (1985) and according to TRA, the
behavioral decision is the most critical factor to predict consumer behavior.
Behavioral choices are influenced by two factors: attitude and social
influence. In it: The attitude towards the decision is to express individual
factors that reflect the positive or negative beliefs of consumers towards the product,
and social influences show the influence of social relationships on individual
consumers.
Due to the limitations of reasoned
action theory model (TRA), Ajzen (1991) proposed a Theory of planned behavior
(TPB) based on developing a rational action theory with the assumption that a
behavior can be predicted or explained by decisions to be made that behavior.
Decisions are assumed to include motivational factors that affect behavior and
are defined as the level of effort that people try to perform. The act of
planning affirms that behavioral decisions are a function of social attitudes
and influences. Behavioral planning behavior awareness controls behavioral
decisions.
Salah et al. (2015) collected data
from 450 survey forms, and questionnaires were distributed to respondents in
Jeddah. The model mentioned four factors that influence the intention to
purchase Real estate that is attitude, master standard Interest, cognitive
behavior, and finance. In which attitude is the most crucial factor affecting the
selection of real estate purchase.
The model studied in the research
topic "Understanding the factors affecting the intention to buy
houses" is carried out by Harun et al. (2016) and Julius et al. (2016).
The investigation team collected data from 235 working adults, and the findings
show that the features of houses, finance, distance, environment, and
superstitious numbers have a significant positive relationship with the
intention to buy a house. The model shows the characteristics of the house, finance,
distance, environment, and superstition have a positive relationship with the
intention of buying a home.
Apaporn (2013) run the
model that refers
to factors affecting the decision to buy luxury apartments. This study is
quantitative research, using random sampling methods from 400 data collection
questions, the results show that the majority of respondents are single; their
education level is a bachelor's degree. Research results also show that price
and location are a factor affecting customer decisions.
An empirical study by Haddad et al.
(2011) concluded that the factors affecting the intention to buy apartments
include: Economy, Beauty, Marketing, Social, Geography. This study found that
there was a significant difference in the intentions regarding the purchase of
gender-based apartments, age, and factors such as marital status and education,
which were not significantly different. Also, the interest rate and income
factors have a significant impact on the buying behavior of apartments in
Jordan.
3.
HYPOTHESES DEVELOPMENT AND
METHODOLOGY
Prices may affect people's
incentives to invest in real estate directly through housing needs and
indirectly, through affecting inflation rates (DUA, 2007). Houses with
identical physical properties may vary in market prices because prices include
a set of specific utilities at the location and access costs. However, few
houses have the same physical characteristics; Therefore, shopping-comparison
is more complicated and more expensive in most other markets (HWANG; QUIGLEY,
2009).
Buyers, sellers, appraisers, and
real estate agents estimate the market price of a house by using the
information shown in the previously sold house set. The usefulness of these
transactions as a reference and it depends on the similarities between them in
many respects such as physical, space, and time. The inference of the
"Market Price" of housing can only be drawn from the properties of
past transactions for housing with different structures, taking advantage of
different geographical attributes and being parties.
Different assessments according to
different market conditions over time. Because housing is often traded, the
emergence of new information about market value is slow. From the latest
information and transactions that can be compared to different sizes, it may be
the last transaction of the same place.
·
H1: Price has a positive
effect on intention to
buy townhouses.
Developer brand can be understood
as the name, term, symbol, drawing, or combination between them to confirm the
product of the seller and to distinguish it from competitors' products (KOTLER,
2004). According to Manudo (2007), the research presented on brand awareness is
an aspect affecting customer satisfaction. The more popular the brand, the
higher the level of awareness, the more likely it is to affect the customer's
intentions.
·
H2: Developer brand has
a positive effect on intention to buy townhouses.
Location is closely related to
distance from various points of interest. Some of the various points of
interest to be considered by house buyers are the distance to the central
business district, distance to school, and distance to work and distance to
retailer outlets (ADAIR et al., 1996; CLARK et al., 2006; OPOKU; ABDUL-MUHMIN,
2010; TU; GOLDFINCH, 1996; NGUYEN, 2013; VO, 2013; VO, 2016; PHAM, 2013).
In Malaysia, studies also found that locational attributes appeared to support
previous studies' findings whereby location was considered an essential
consideration for house buyers (RAZAK et al., 2013).
·
H3: Location has a positive
effect on intention to buy townhouses.
A unique feature is an attribute of
a product that responds to the satisfaction of consumers' needs and desires
through the possession, use, and exploitation of products (KOTLER et al.,
2007). Also, housing characteristics are outstanding factors such as
construction quality, construction time, design, and scale of the house. When
customers intend to buy houses, they will pay attention to the above factors
(JULIUS et al., 2016).
·
H4: Housing characteristics
have a positive effect on intention to buy townhouses.
Opinions of friends, family
decisions, or advice from sales experts also significantly affect the intention
of choosing consumers' houses. Every individual always has people around who influence
their buying decisions, including relationship, family, role, and status
(personal) (PERRAEAU, 2014). A consumer is an individual, but will still belong
to a group. The group of consumers is called a membership group. The second
group is the reference group; this group will affect consumers' image and
consumer behavior (decision). It is usually divided into three types of
reference groups: family, close friends, neighbors, colleagues, and
acquaintances (KOTLER; ARMSTRONG, 2010; KHAN, 2006) Family members may affect
consumer behavior of consumer individuals. A family creates the first
perceptions of the brain or consumer products and habits (KOTLER et al., 2010;
KHAN, 2006)
·
H5: Social influence has
a positive effect on intention to buy townhouses.
Kim (2007) participated in the
Hedonic regression model to consider the impact of legal impact on home buyers;
Pham (2011) also mentioned that legal is one of the essential factors affecting
real estate investment in Ho Chi Minh City. The legal factor is one of the most
crucial issues when choosing to buy the property. Therefore, this study uses
legal as one of the research factors.
·
H6: Legal has a positive
effect on intention to buy townhouses.
Figure
1: Proposed research model of the authors
This research is based on
quantitative research, and the factors affecting the intention to buy a
client's apartment with five factors that combine scales such as a nominal
scale and Likert with five levels: (1) strongly disagree, (2) disagree, (3)
neutral, (4) agree, (5) strongly agree to measure values. The study was carried
out with 25 variables. The sample size must be at least 125 elements (= 5 * 25
observed variables) to meet the condition of the minimum number of
observations. So choose 200 as the number of research samples for the report.
The analytical data were collected by non-probability sampling method according
to the convenient sampling method in Ho Chi Minh City in the period from
January 2019 to March 2019. Study to use the method of measuring scales with
Cronbach's Alpha coefficients, exploratory factor analysis (EFA), and
regression analysis.
4.
ANALYSIS AND RESULTS
4.1.
Data description:
After the two months to conduct the
survey from January to March in 2019 and do data analysis in the final three
weeks of April, the authors collected 192 valid respondents out of 200
respondents, accounting for 96% and the following table can describe the data:
Table 1: Data description
|
Frequency |
Percent |
|
Gender |
Male |
112 |
583% |
Female |
82 |
41.7% |
|
Age |
Under 25 years old |
41 |
21.4% |
From 25 to 35 years old |
57 |
29.7% |
|
From 35 to 50
years old |
56 |
29.2% |
|
Over 50 years old |
38 |
19.8% |
|
Education background |
Undergraduate high school |
16 |
8.3% |
Technical school. |
46 |
24% |
|
Colleges |
60 |
31.3% |
|
University |
53 |
27.6% |
|
Postgraduate |
17 |
8.9% |
|
Job |
State employees
and officials |
40 |
20.8% |
Workers and Employees |
58 |
30.2% |
|
Agricultural |
15 |
7.8% |
|
Businessman |
61 |
31.8% |
|
Other |
18 |
6.4% |
|
Income |
Under 6 million
VND / month |
37 |
19.3% |
From 6 to 15
million VND / month |
50 |
26.0% |
|
From 16 to 25 million
VND / month |
48 |
25.0% |
|
From 25 to 35
million VND / month |
37 |
19.3% |
|
Over 35 million
VND / month |
20 |
10.4% |
Regarding gender: The
majority of gender is male, with 112 people accounting for 58.3%, while the
number of female participants is 80 people, accounting for 41.7%, and the data
show that the gender gap is not high.
Regarding age: 57 people are from
25 to 35 years old, accounting for 29.7% and get the highest rate, the second
is 67 people who are under 25 years old, accounting for 33.3%, the third is 56
people who are from 35 to under 50 and accounting for 29.2%, and 38 people are
over 50 years old, accounting for 19.8% and get the lowest rate. Based on the
analysis of age, customers in Ho Chi Minh City are mainly between 25 and 50
years old.
Regarding education background:
According to the results, the education background has a quite high
disproportion. Colleges have the highest number of respondents, which is 60
people, accounting for 31.3%, while the university has 53 people, accounting
for 27.6%. Besides, Technical school has 46 people who join the survey,
accounting for 24%. Undergraduate high school who answers the survey is 16,
accounting for 8.3%. Finally, postgraduate has 17 participants, accounting 8.9%.
Regarding job: businessman has 61
people, accounting 31.8%. Secondly, workers and employees have 58 people,
accounting at 30.2%. The employees and officials have 40 people, accounting
20.8%. Besides, agricultural has 15 people, accounting 15.8%. Finally, other
has 18 people, accounting 9.4%.
Regarding income: 50 people are
from 6 to 15 million VND/month, accounting for 26% and get the highest rate,
the second is 48 people who are from 16 to 25 million VND/month, accounting for
25%, the third is 37 people who are under 6 million VND/month or from 25 to 35
million VND/month and accounting for 19.3%, and 20 people are over 35 million
VND/month, accounting for 10.4% and get the lowest rate. Based on the analysis
of age, customers in Ho Chi Minh City are mainly between 6 and 25 million
VND/month.
4.2.
Reliability test: Cronbach’s Alpha
According to Nunnally and Bernstein
(1994), the condition to accepting variables is that Corrected Item - Total
Correlation is equal or greater than 0.3 and Cronbach’s Alpha if item deleted
is equal or greater than 0.7. According to Nguyen and Ha (2008), Hoang and Chu
(2007), Hoang and Chu (2008ª, 2008b), Nguyen (2011), Hair et
al. (2014), new studies can accept that Cronbach’s Alpha, if item deleted, is
equal or greater than 0.6.
Table 2: Constructs, corrected item
– total correlation and Cronbach Alpha
Items |
Constructs |
Corrected
Item – Total Correlation |
Cronbach’s
Alpha if item deleted |
Legal: Cronbach’s Alpha=0.855 |
|||
LG1 |
I like townhouses with clear legislation |
.641 |
.840 |
LG2 |
Legal is a prime factor for me to buy a house |
.662 |
.831 |
LG3 |
I want to buy a house with a certificate of
ownership |
.762 |
.788 |
LG4 |
I want the townhouse to have reliable legal status |
.732 |
.802 |
Housing characteristics: Cronbach’s Alpha = .809 |
|||
HC1 |
I like townhouses in Ho Chi Minh City because there
is a modern infrastructure here |
.705 |
.723 |
HC2 |
I intend to buy a townhouse because of its
convenient location for travel |
.609 |
.769 |
HC3 |
I intend to buy a townhouse because I can design my
own house |
.542 |
.799 |
HC4 |
I intend to buy a townhouse because I think there is
good security here |
.656 |
.747 |
Developer brand: Cronbach’s
Alpha = .870 |
|||
DB1 |
Well-known brand owners will have high reputation |
.728 |
.832 |
DB2 |
I want to buy a big brand house |
.857 |
.780 |
DB3 |
I like to buy a home with a trusted brand owner |
.598 |
.860 |
DB4 |
Developer brand name is the main factor affecting me |
.723 |
.835 |
Location: Cronbach’s Alpha = .770 |
|||
LC1 |
I intend to buy a house because it is near the work
place of the family |
.464 |
.767 |
LC2 |
I intend to buy a house because it is in a densely
populated area |
.586 |
.707 |
LC3 |
I like my home near the hospital school and the
commercial center |
.615 |
.690 |
LC4 |
Location is very important in leading to my intention
to buy houses |
.625 |
.688 |
Social influence: Cronbach’s
Alpha = .844 |
|||
SI1 |
I intend to buy townhouses because of family impacts |
.757 |
.768 |
SI2 |
I intend to townhouse because there are many family
members |
.778 |
.760 |
SI3 |
I intend to buy a house because my friends advised me |
.602 |
.835 |
SI4 |
I intend to buy a house because of the media's
mention |
.595 |
.840 |
Price: Cronbach’s Alpha = .833 |
|||
PR1 |
Prices are consistent with quality |
.539 |
.829 |
PR2 |
Selling price is the most important factor when
considering to make a home purchase intention |
.642 |
.797 |
PR3 |
Payment schedule when buying a home is suitable for
my income |
.718 |
.776 |
PR4 |
I refer to and compare prices between investors
before buying |
.582 |
.814 |
PR5 |
I like discount when buying |
.699 |
.781 |
Intention to buy: Cronbach’s Alpha =
.845 |
|||
IB1 |
I am planning to buy a house |
.642 |
.819 |
IB2 |
I am trying to buy a house |
.754 |
.772 |
IB3 |
I plan to continue buying houses in the future |
.579 |
.844 |
IB4 |
I intend to buy the apartment because of the
reputation of the Owner |
.761 |
.769 |
4.3.
Exploratory Factor Analysis (EFA)
Exploratory Factor Analysis (EFA)
is an analytical technique which is aimed to reduce data, so it is beneficial
for identifying variables by the group. In the exploratory factor analysis, the
authors used Principal Component Analysis and Varimax rotation to group the
components.
4.3.1. Independent variables
The results show that KMO is 0.805
and can make sure the requirement 0.5<KMO<1. Bartlett is 2623.414 with
sig = 0.00<0.05, so all of the variables are correlation together in each
component. Total variance explained equals 69.120%, and it is greater than 50%;
as a result, it can meet the requirement of variance explained. From this one,
this research can conclude that variables can explain 69.120% in changing
factors. Also, eigenvalues equal 1.178 >1, and it is the fluctuation that
can explain for each factor, so the extracted factors have a significant
summarize in the best way. The rotated matrix in EFA show that the loading
factor is higher than 0.50, and it can divide into six components by the
following table:
Table 3: Rotated matrix
Concepts |
Items |
Component |
||||||||||
1 |
2 |
3 |
4 |
5 |
6 |
|||||||
Developer brand |
DB2 |
.904 |
|
|
|
|
|
|||||
DB1 |
.830 |
|
|
|
|
|
||||||
DB4 |
.789 |
|
|
|
|
|
||||||
DB3 |
.661 |
|
|
|
|
|
||||||
Social influence |
SI2 |
|
.842 |
|
|
|
|
|||||
SI1 |
|
.809 |
|
|
|
|
||||||
SI4 |
|
.751 |
|
|
|
|
||||||
SI3 |
|
.739 |
|
|
|
|
||||||
Price |
PR3 |
|
|
.838 |
|
|
|
|||||
PR5 |
|
|
.835 |
|
|
|
||||||
PR4 |
|
|
.756 |
|
|
|
||||||
PR2 |
|
|
.723 |
|
|
|
||||||
PR1 |
|
|
.547 |
|
|
|
||||||
Legal |
LG3 |
|
|
|
.839 |
|
|
|||||
LG1 |
|
|
|
.771 |
|
|
||||||
LG4 |
|
|
|
.755 |
|
|
||||||
LG2 |
|
|
|
.668 |
|
|
||||||
Housing characteristics |
HC1 |
|
|
|
|
.894 |
|
|||||
HC4 |
|
|
|
|
.858 |
|
||||||
HC2 |
|
|
|
|
.589 |
|
||||||
HC3 |
|
|
|
|
.519 |
|
||||||
Location |
LC4 |
|
|
|
|
|
.809 |
|||||
LC3 |
|
|
|
|
|
.802 |
||||||
LC2 |
|
|
|
|
|
.779 |
||||||
LC1 |
|
|
|
|
|
.655 |
||||||
KMO |
0.805 (sig.=0.000) |
|||||||||||
Bartlett's |
2623.414 |
|||||||||||
Eigenvalues |
6.124 |
3.741 |
2.607 |
1.925 |
1.704 |
1.178 |
||||||
Total Variance Explained |
13.814 |
6.417 |
38.678 |
49.324 |
59.300 |
69.120 |
||||||
4.3.2. Dependent variable:
The results show that KMO is 0.699
and can make sure the requirement 0.5<KMO<1. Bartlett is 390.753 with sig
= 0.00<0.05, so all of the variables are correlation together in each
component. Total variance explained equals 68.861%, and it is greater than 50%;
as a result, it can meet the requirement of variance explained. Besides,
eigenvalues equal 2.754 >1, and it is the fluctuation that can explain for
each factor, so the extracted factors have a significant summarize in the best
way. Finally, all of the variables have the loading factor that is greater than
0.50 and meet the requirement.
Table 4: Dependent variable, and
testing
Dependent variable |
Component |
|
1 |
||
Intention to buy |
IB4 |
.887 |
IB2 |
.886 |
|
IB1 |
.794 |
|
IB3 |
.743 |
|
KMO |
0.699 (sig.=0.000) |
|
Bartlett's |
390.753 |
|
Eigenvalues |
2.754 |
|
Total
Variance Explained |
68.861% |
|
Cronbach’s
Alpha |
0.718 |
4.4.
Regression
Regression analysis finds out what
is the factor influencing customers' intention to buy townhouses and measures
the impact of these factors. Before doing the regression analysis, the authors
do compute the mean value of these factors. Whereas:
LG: Legal (PL1, PL2, PL3, PL4)
PR: Price (PR1, PR2, PR3, PR4, PR5)
LC: Location (LC1, LC2, LC3, LC4)
HC: Housing characteristics (HC1,
HC2, HC3, HC4)
DB: Developer brand (DB1, DB2, DB3,
DB4)
SI: Social influence (SI1, SI2,
SI3, SI4)
IB: Intention to buy (IB1, IB2,
IB3, IB4)
The following formula can describe
regression analysis model in this research:
IB =
β0 + β1*LG + β2*PR + β3*SI + β4*DB + β5*LC +
β6*HC
Meanwhile, IB is a dependent
variable, and it can measure the impact on the intention to buy townhouses in
District 9 in Ho Chi Minh City and LG, SI, PR, DB, LC, and HC are independent
variables can measure legal factors, social influence, price, developer brand,
location, and housing characteristics.
Table 5: Regression results
Model |
Unstandardized Coefficients |
Standardized Coefficients |
t |
Sig. |
Collinearity |
|||
Beta |
Sd. Error |
Beta |
Tolerance |
VIF |
||||
1 |
(Constant) |
.389 |
.193 |
|
2.018 |
.045 |
|
|
LG |
.141 |
.035 |
.227 |
4.052 |
.000 |
.661 |
1.514 |
|
HC |
.129 |
.034 |
.202 |
3.782 |
.000 |
.724 |
1.381 |
|
DB |
.173 |
.037 |
.271 |
4.668 |
.000 |
.616 |
1.623 |
|
LC |
.146 |
.031 |
.222 |
4.790 |
.000 |
.961 |
1.041 |
|
SI |
.100 |
.032 |
.170 |
3.104 |
.002 |
.688 |
1.453 |
|
PR |
.207 |
.037 |
.291 |
5.590 |
.000 |
.766 |
1.305 |
|
R2 |
0.671 |
|||||||
Adjusted R2 |
0.604 |
|||||||
Sig. |
0.000 |
|||||||
Durbin Watson |
1.755 |
From the results of the
regression model, all six variables have a significant statistic because their
sig is less than 0.05. Therefore, these variables affect the intention to buy
townhouses in District 9 in Ho Chi Minh City.
The
adjusted R2 value is 0.604, and it means that 60.4% of the intention to buy
houses in District 9 is from 6 factors and 39.6% of that is from the factors
which are outside of the model. The sig value is 0.000, and it is less than
0.05, so the research model is fit, and the variables which use in the model
have a significant statistic. Besides, Durbin – Watson is 1.755, and as a
result, there is no autocorrelation between the residuals in the model. What is
more, variance inflation factors (VIF) are too small, and these point out that
there is no multicollinearity in this model, so all of the independent
variables do not correlate together.
The
multiple regression model by standardized coefficients can be identified:
IB=0.141*LG+0.129*HC+0.173*DB+0.146*LC+0.100*SI+0.207*PR
Table 6: The hypotheses testing
results
Hypothesis |
Content |
Result |
H1 |
Price has a positive effect intention to buy
townhouses. |
Accepted |
H2 |
Developer brand has a positive effect
intention to buy townhouses. |
Accepted |
H3 |
Location has a positive effect on intention
to buy townhouses. |
Accepted |
H4 |
Housing characteristics have a positive
effect intention to buy townhouses. |
Accepted |
H5 |
Social influence has a positive effect
intention to buy townhouses. |
Accepted |
H6 |
Legal has a positive effect intention to buy
townhouses. |
Accepted |
Figure 2: Factors
affecting to intention to buy townhouses in District 9
5.
CONCLUSION
This study is a succession and
development based on previously proposed studies so that the results of the
study have both similarities and differences. There are many similar research
articles about the intention to buy real estate, however, to help businesses
better understand the tastes and needs of customers in the real estate market
from then on. Improving the quality of products and services and increasing the
revenue of businesses, this paper has presented the theoretical basis for the
intention of buying customers' houses and providing some relevant previous
studies to the intention to buy a house. In the process of implementing the
project, the actual survey process from customers is challenging; it takes a
lot of time and effort to find customers to survey.
This research still has certain
limitations such as: First, the duration of the study is short and only in a
specific time so that the study may be correct only at present. Secondly, with
a small number of samples and limited research conditions, the research may not
reflect all current conditions objectively.
Through this paper, the authors
give some recommendations for businesses operating in the real estate sector as
follows: Regarding prices: businesses should relax the period of payment for customers,
linking with other banks to lend to help customers buy motivation. As for legal
practice, at present, many projects that are legally entangled as customers
become cautious when buying real estate, businesses should have policies to
ensure customers, publicize legal documents for customers to verify and trust.
Regarding the social and brand
influence of investors, businesses need to improve their reputation and
reputation of the business as well as real estate products, helping customers
understand the benefits and trust of businesses. Further research directions
can be extended to study the factors affecting the intention to buy real estate
(townhouses, land plots, apartments) of customers (domestic and foreign). It is
also an open door for further research as well as businesses in real estate and
related sectors.
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