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A Study on Real Estate Purchase Decisions

Author

Listed:
  • Jing-Yi Chen

    (Department of Insurance and Finance, National Taichung University of Science and Technology, Taichung 404336, Taiwan)

  • Ming-Hui Wang

    (Department of Business Administration, National Taipei University of Business, Taipei 100025, Taiwan)

Abstract

This study examines the influence of joint information framing and personality traits on housing purchase decisions, specifically in the context of the COVID-19 pandemic. Using a between-subjects experimental design, we found that negative framing has a stronger impact on purchase decisions for optimistic participants compared with pessimistic ones. Additionally, high-price anchoring has a greater negative effect on purchase intention for pessimists, while low-price anchoring has a stronger positive effect for optimists. Furthermore, our findings suggest that the low-price real estate market has been less severely impacted by the pandemic than the high-price market. The real estate market seeks to minimize information asymmetry to achieve sustainable and healthy development. These results contribute to creating inclusive, safe, and sustainable cities.

Suggested Citation

  • Jing-Yi Chen & Ming-Hui Wang, 2023. "A Study on Real Estate Purchase Decisions," Sustainability, MDPI, vol. 15(6), pages 1-21, March.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:6:p:5216-:d:1098030
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    References listed on IDEAS

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