Purchase Intention of Residential Property in Greater Kuala Lumpur, Malaysia

Abstract

High housing prices in the urban area have posted a challenge for potential first-time home buyers to own a house. This study aims to investigate factors that influence Malaysians to purchase a residential property in Greater Kuala Lumpur (KL). This study examines the effect of attitude, subjective norm, perceived behaviour control, location, living space and financial factors on the intention to purchase residential property based on the Theory of Planned Behavior. The findings indicated that there are positive relationships between attitude, subjective norm, perceived behaviour control and financial factors toward purchase intention for residential property, while location and living space were found to have no relationship on consumers? purchase intention of residential property in Greater KL. These findings will provide insightful information to the housing developer in their venture on new housing projects, marketing strategies and be meeting the homeownership needs as well as to the policy maker and bankers? decision for economic development. The limitation of the current study is arising from its focus on the selected geographical area of the Klang Valley property market only.