Factors Affecting Customers to Buy Apartments in Dhaka City

Abstract

This study investigates factors that affect prospective customers’ purchase intention when purchasing apartment in Dhaka city, Bangladesh. The paper also examines relationships among the influential factors and buying attitude. Total forty six (46) attributes have been taken into consideration in designing questionnaire for the study. A questionnaire survey method is used with 220 prospective buyers and response rate of 92 percent. Initially an exploratory factor analysis is directed using SPSS (version 21).We explored six factors where project facilities, environmental issues, physical quality, location and communication facilities are considered as most influential factors. Comparatively promotional and prices have less impact on purchase decisions. But the attribute ‘reasonable prices’ received the buyer’s attention. Factors project facilities, physical quality, location, communications and prices have significant relationship with buying attitude except the promotional and environmental issues. Real Estate developers, marketers, policy makers can use the findings to better understand, segment and satisfy the buyers. Therefore the findings of the study will help to develop the successful Real Estate marketing policy and strategies. The study may be limited by its focus on a geographic section of the Bangladeshi Real Estate market.