Factors affecting apartment buying decision of middle-income people in Dhaka, Bangladesh : From the perspective of COVID-19-led economic situation

Abstract

This research aimed at exploring the factors which affect apartment buying decisions of middle-income people in Dhaka, Bangladesh. The research also aimed at investigating the impact of COVID-19-led economic situation on the purchasing decision of apartment buyers. The research used the deductive approach and mixed-method strategy as research methods. The data were collected from prospective apartment buyers in Dhaka City through a survey. The sample size was 56. The analysis was done in three segments: demographic analysis, analysis of factors which affect the decision making process of apartment buyers, and the impact of COVID-19-led economic situation on apartment buying decision of prospective buyers. The research found that apartment facilities have the most significant impact on the decision making process. Moreover, apartment price, financing arrangement, and reputation of the developer regarding timely delivery and quality of work have a significant impact on apartment buying decisions. The study revealed that COVID-19 has a negative impact on apartment buying decisions. Most of the middle-income apartment buyers want to delay their apartment buying job until the situation improves.