A Survey on Homebuyers Behaviour towards the Housing Market in Klang Valley

Abstract

Study on home buyers’ behaviour is significant as current improvements can be made by evaluating the trend of past behaviour while the future improvement is based on current behaviour. Although extensive research has been carried out, most of the research are focused on preference-related behaviour while too little attention has been paid on behaviour towards market condition. Therefore, this paper aims to assess the behaviour of home buyers towards the housing market in Klang Valley. Conceptual framework has been developed by incorporating three (3) behavioural attributes of home buyers namely housing market perceptions, informational influence as well as housing market expectations. Questionnaire survey has been distributed to 224 respondents who bought the house in Klang Valley. The data were analysed using a descriptive statistic and thematic analysis. The empirical results revealed that majority of home buyers aware that the price is rising and optimistically forecast the trend to be continued for both short and long terms while the future purchase possibilities are expected at difficult level. Finally, the main sources of information frequently used by home buyers are human sources followed by networked sources, printed media, organisational sources as well as other sources. The study also signifies the existence of herd behaviour in most of home buyers’ decision. This paper proposed a new conceptual model for studying the home buyers’ behaviour.