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W asim Sheikh, Kshitiz Sharma, Mihir Dash

International Journal of Marketing and Business Communication

Volume 6 Issue 1

Published: 2017
Author(s) Name: W asim Sheikh, Kshitiz Sharma, Mihir Dash | Author(s) Affiliation: Alliance University, Karnataka, India
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Abstract

The present study examines emerging preferences of residential buyers in Bangalores housing market. The buyer preferences are studied mainly to understand the housing structure coupled with facilities as offered by developers and desired by the customers. The study to large extent will help developers in Bangalore to create the right product offer for interested buyers and they should be able to increase their sales and revenues by offering the same. Most of the information available in real estate sector is about the preferred market, destination location or developer in particular market but the information on amenities and facilities desired by customers to make it convenient for them to stay, are not adequately available. The taste of customers is changing with their increased disposable income, fast-paced life and impact of self-service technology that has made some characteristics in housing projects less important and developed some innovative characteristics. This study brings out these preferences. The variables covered in the study are type of housing prospective customers want to purchase, size of house/apartment they are looking for, size of the property, their budget, possession date, primary criterion to meet while purchasing the residential property, vaastu, puja room and servant room preferences, preference in style of kitchen, balcony usage purpose, flooring preference, window preference, amenities preference, maintenance payment preference, views on residential properties being sold online, preference in smart homes and green buildings, and last but not the least, perceptions of top developers in Bangalore. The study also examines associations between some of the variables above, including gender and age differences in primary purchase criterion, preference for vaastu, puja room, and servant room, and preference for smart homes with green buildings, and so on.

Keywords: Buyers Preferences, Residential Housing Market, Housing Market Segment

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