INQUISITION OF CONSUMERS PRIORITIZATIONCRITERIA FOR HOME PURCHASES IN MALAYSIAUSING MULTI CRITERIA DECISIONS ANALYSIS:DOES SOCIO-CULTURAL FACTORS RANKHIGHLY?
2020
Based on previous empirical studies, there has been interesting debate about socio-cultural
effects on consumers housing preferences. As a multi-cultural country with societal polarization, Malaysias
housing market poses an interesting question; do socio-cultural factors affect consumers housing preferences
and purchase priority? If so, which factors are prioritized and preferred more by potential buyers? This paper
intends to determine which socio-cultural factors are more preferred and prioritized by potential buyers. The
study employs the Analytical Hierarchy Process (AHP) method to find the answers. A pairwise comparison
analysis using AHP-type questionnaire is carried out to determine prioritization of buyers preferences with
regards to socio-cultural factors. A total of 102 respondents from various states in Malaysia have participated in
this study. The findings show that safety and security of the residential area is the most prioritized factor by
Malaysian home buyers followed by demographic profile of the residents. Interestingly, perceived social status
or prestige of staying in the upmarket residential area was not highly prioritized. Overall, however, sociocultural is not ranked first when compared to other criteria especially financial and locational factors. The result
is also a representation of predominantly young educated Malay consumers with fairly young career and
family. In all, it is expected that this study will be beneficial and key output includes ranking of buyers
purchasing priority (Socio-cultural factors) can be leveraged by property developers, and policy makers.
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