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An Analysis Of Influencing Factors Of Rigid Demand Choice In Chengdu

Posted on:2014-02-02Degree:MasterType:Thesis
Country:ChinaCandidate:W PengFull Text:PDF
GTID:2269330425951289Subject:Technical Economics and Management
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In recent years, with China’s land use and urban housing system constantly adjusting and deeply reforming, the national real estate market is gradually mature. Because of the continue of property-purchasing limitations in2012, fine-tuning policies in many cities all over the country support rigid demand housing as well as place restrictions on the second house and large scale housing, and Chengdu are no exception. Rigid demand housing in Chengdu accounts for79%of the whole real estate market, of which30%is distributed in urban district,49%in suburban district. Since2007, with the rapid development of suburban district of Chengdu, real estate developing companies aim at Long Quan, Shuang Liu, Wen Jiang and Xi Pu, etc. one after another. When customers are purchasing a house, they are faced with question of choosing between the housing in urban and suburban. Therefore, real estate developing companies need to find out the differences among the customers’individuality, family and other characters in order to prepare differentiated products and sales. As for government, it is necessary to find out the main factors that influence the customers’choice, which is benefit to the implement of macro-control policies.In view of this, this essay conducts a study on the differences of the influencing factors of the customers’choice of housing areas in Chengdu from the perspective of the customers. Firstly, this essay reviews the researches on the study from home and abroad, from which, this essay finds the research point. Based on this, this essay describes the research direction, content, methodology and framework, and introduces Consumer Behavior Theory, Maslow Hierarchy of Need Theory and Location Theory which have some research implications to this essay. Secondly, this essay describes the current situation of China’s housing reform system and real estate in Chengdu. To further understand the development level of real estate in Chengdu, this essay makes a horizontal comparison analysis of real estate in other cities. And then, on the basis of qualitative analysis of real estate in Chengdu, this essay adopts four dimensions (individuality and family characteristics, housing characteristics, value characteristics, mental characteristics) as the variables in this empirical study. In order to understand the influencing factors of the customers’choice of housing areas, this essay makes a descriptive statistical analysis and Logit quantitative analysis. In the end, combined with the results of the research, this essay makes some corresponding suggestions to the healthy development of real estate of different areas in Chengdu.Based on the above analysis, this paper draws the following conclusion:(1) of the research variables in this paper, six variables, namely, family income, working location, length of residence in Chengdu, traffic attribute in residence and price of residence have significant effects on the customers’choice of residence area.(2) With the development of urbanization, parts of suburban areas will become the urban areas of Chengdu with better expectation. What’s more, the influence of individual and family variables’on the customers’choice of residence area will be gradually decreased.(3) From residence attribute, three factors like improvement of the public transport, high quality environment in suburban areas and the development of large city complex in suburban areas jointly affect people’s choice of residence in suburban.(4) Both investor and the customers who buy a house for living are concerned about the residence’s potential of increasing in value. The customers who buy the residence in suburban are more concerned about the residence’s potential of increasing in value than the customers who buy the residence in urban.(5) Factors like construction and mentality have no influence on the rigid demand customers’choice of areas.According to the above results of empirical study, this essay puts forward some suggestions on the healthy development of rigid demand residence in Chengdu as follows:(1) Many efforts should be needed to strengthen the development of infrastructure and supporting facilities in suburban. Attention of parts of residence buyers should be transferred to suburban areas to solve the problem of parts of family cannot afford to buy high-priced residence, cut the needs of residence in urban which to some extent reduce the price of housing in urban.(2) Many efforts should be needed to strengthen planning and construction of residential areas and further strengthen competitive forces of real estate in suburban.(3) As for enterprises, they should accurately target at their customers by making pertinent sales activities according to their factors sensitivity of residence in different areas so as to highlight the competitive forces of housing products.(4) When it comes to customers, they should comprehensively analyze all kinds of factors so as to rationally choose what the best is for them according to their own situations.(5) With regard to the government, they should actively use all kinds of micro-control policies like credit policy, monetary policy, tax policy, etc. to indirectly affect variables like residence price, psychological expectation and value-added space and ultimately affect the customers’ choice of residence area so as to balance market structure and guarantee the healthy development of residence in urban and suburban.
Keywords/Search Tags:rigid demand residence, market in Chengdu, residence buying decision, influencing factor, area choice
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