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30386 |
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|a dc
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|a Mar Iman, Abdul Hamid
|e author
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|a Fu, Yek Pieng
|e author
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|a Christopher, Gan
|e author
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|a A conjoint analysis of buyers' preferences for residential property
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|c 2012.
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|z Get fulltext
|u http://eprints.utm.my/id/eprint/30386/2/03.pdf
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|a This study evaluates the preferences of middle-high income earners for newly designed high-cost residential property attributes in their purchase decision, by using the conjoint method, whereby the buyers' 'trade-offs' of different product attributes are measured. The fractional factorial design is used to create eighteen sets of product profiles based on a combination of the six most important attributes that determine the purchase decision of buyers. The preference rating of the respondents is then decomposed to yield part-worth utility for each attribute level. A regression analysis shows that the most pertinent attributes of high-cost residential properties trade-off by the respondents, are type of property, design and features, price, built-up area, location, and reputation of the developer. Together, these attribute explain about 74% of the buyers' expressed utility of the product purchased. By using a hold-out sample of respondents, a conjoint analysis has predicted the buyers' expressed utility with a reasonable level of accuracy.
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|a en
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|a G Geography (General)
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