Event Title

Factors that influence the decision making process of Young Families while housing purchase

Session

Architecture and Spatial Planning

Description

Considering the extensive, un-structured development of residential real estate market in Pristina, Kosovo, especially during the last two decades and the customers continuous need for reliability and trustworthiness, this undertaken study aims to understand the factors influencing the decision-making process of Young Families while housing purchase. The results intend to fulfill the leading research objectives which relates to: Identification of the most adopted decision-making model; Understand the Internal, External, Social and Technical factors; Distinguish the influencing extent of the economical and financial factor; Explore how does the purchasing process is influenced by the customers previous knowledge and finally Investigate the marketing strategies and communication tools used by residential real estate representatives. This qualitative research concept is designed aiming to guide the interviews and data analysis. The selected sample consists of four type of families emerged as a result of Family Life Cycle analysis: SINKs, DINKs, DEWKs and SIFs with whom 24 interviews have been carried out. In addition, 10 interviews have been conducted with Property Developers and Real Estate Agents. As a result, Conceptual Decision-Making Model is developed highlighting the essential motivations for young families to purchase a residential property and stages that this process goes through. While considering the research key findings, practical and theoretical research implications have been derived and recommendations for improving residential market development are proposed.

Keywords:

Young Families, Family Life Cycle, House purchase, Decision Making Process, Pristina

Session Chair

Lulzim Beqiri

Session Co-Chair

Arber Sadiki

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-69-1

Location

Pristina, Kosovo

Start Date

27-10-2018 1:30 PM

End Date

27-10-2018 3:00 PM

DOI

10.33107/ubt-ic.2018.10

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Oct 27th, 1:30 PM Oct 27th, 3:00 PM

Factors that influence the decision making process of Young Families while housing purchase

Pristina, Kosovo

Considering the extensive, un-structured development of residential real estate market in Pristina, Kosovo, especially during the last two decades and the customers continuous need for reliability and trustworthiness, this undertaken study aims to understand the factors influencing the decision-making process of Young Families while housing purchase. The results intend to fulfill the leading research objectives which relates to: Identification of the most adopted decision-making model; Understand the Internal, External, Social and Technical factors; Distinguish the influencing extent of the economical and financial factor; Explore how does the purchasing process is influenced by the customers previous knowledge and finally Investigate the marketing strategies and communication tools used by residential real estate representatives. This qualitative research concept is designed aiming to guide the interviews and data analysis. The selected sample consists of four type of families emerged as a result of Family Life Cycle analysis: SINKs, DINKs, DEWKs and SIFs with whom 24 interviews have been carried out. In addition, 10 interviews have been conducted with Property Developers and Real Estate Agents. As a result, Conceptual Decision-Making Model is developed highlighting the essential motivations for young families to purchase a residential property and stages that this process goes through. While considering the research key findings, practical and theoretical research implications have been derived and recommendations for improving residential market development are proposed.