IDEAS home Printed from https://ideas.repec.org/a/ibn/ijbmjn/v21y2026i2p65.html

Value Creation in Luxury Real Estate: Perspectives of Customers and Companies

Author

Listed:
  • Lucas Chacur
  • Murillo Dias

Abstract

This study investigates value creation in the Luxury real estate market in the Brazilian context through qualitative exploratory research. Due to the complexity and particularities of the real estate market, we investigated how luxury real estate companies create value by comparing customers’ expectations with companies’ perspectives. Luxury real estate companies and customers were in-depth interviewed, and significant and valuable data were collected. Our study indicates that the existing luxury literature is limited in its ability to address the complexity of the luxury real estate market. Our study also suggests that trust, credibility, and customization affect value creation in the luxury real estate market. Luxury authors and scholars did not previously study these aspects of value creation. In addition, this research provides scholars and companies with a new approach to creating value in the luxury real estate market.

Suggested Citation

  • Lucas Chacur & Murillo Dias, 2026. "Value Creation in Luxury Real Estate: Perspectives of Customers and Companies," International Journal of Business and Management, Canadian Center of Science and Education, vol. 21(2), pages 1-65, March.
    • Handle: RePEc:ibn:ijbmjn:v:21:y:2026:i:2:p:65
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/ijbm/article/download/0/0/52909/57685
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/ijbm/article/view/0/52909
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kapferer, Jean-Noël & Laurent, Gilles, 2016. "Where do consumers think luxury begins? A study of perceived minimum price for 21 luxury goods in 7 countries," Journal of Business Research, Elsevier, vol. 69(1), pages 332-340.
    2. Alaimo, Cristina & Kallinikos, Jannis & Vallderama-Venegas, E, 2020. "Platforms as service ecosystems: lessons from social media," LSE Research Online Documents on Economics 101474, London School of Economics and Political Science, LSE Library.
    3. Stathopoulou, Anastasia & Balabanis, George, 2019. "The effect of cultural value orientation on consumers' perceptions of luxury value and proclivity for luxury consumption," Journal of Business Research, Elsevier, vol. 102(C), pages 298-312.
    4. Tian, Kelly Tepper & Bearden, William O & Hunter, Gary L, 2001. "Consumer's Need for Uniqueness: Scale Development and Validation," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 28(1), pages 50-66, June.
    5. Richins, Marsha L, 1994. "Special Possessions and the Expression of Material Values," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 21(3), pages 522-533, December.
    6. Shen, Xiao-Liang & Li, Yang-Jun & Sun, Yongqiang & Zhou, Yujie, 2018. "Person-environment fit, commitment, and customer contribution in online brand community: A nonlinear model," Journal of Business Research, Elsevier, vol. 85(C), pages 117-126.
    7. Alev Kocak Alan & Inci Dursun & Ebru Tumer Kabadayi & Kenan Aydin & Fikret Anlagan, 2016. "What Influences the Repurchase Intention for Luxury Brands?-The Relative Impacts of Luxury Value Dimensions," International Business Research, Canadian Center of Science and Education, vol. 9(5), pages 11-24, May.
    8. Merz, Michael A. & Zarantonello, Lia & Grappi, Silvia, 2018. "How valuable are your customers in the brand value co-creation process? The development of a Customer Co-Creation Value (CCCV) scale," Journal of Business Research, Elsevier, vol. 82(C), pages 79-89.
    9. Payne, Adrian & Storbacka, Kaj & Frow, Pennie & Knox, Simon, 2009. "Co-creating brands: Diagnosing and designing the relationship experience," Journal of Business Research, Elsevier, vol. 62(3), pages 379-389, March.
    10. Okazaki, Shintaro & Plangger, Kirk & West, Douglas & Menéndez, Héctor D., 2020. "Exploring digital corporate social responsibility communications on Twitter," Journal of Business Research, Elsevier, vol. 117(C), pages 675-682.
    11. Roland T. Rust & Tuck Siong Chung, 2006. "Marketing Models of Service and Relationships," Marketing Science, INFORMS, vol. 25(6), pages 560-580, 11-12.
    12. Jean-Noël Kapferer & Vincent Bastien, 2009. "The specificity of luxury management: Turning marketing upside down," Post-Print hal-00493180, HAL.
    13. Tynan, Caroline & McKechnie, Sally & Chhuon, Celine, 2010. "Co-creating value for luxury brands," Journal of Business Research, Elsevier, vol. 63(11), pages 1156-1163, November.
    14. Shukla, Paurav & Purani, Keyoor, 2012. "Comparing the importance of luxury value perceptions in cross-national contexts," Journal of Business Research, Elsevier, vol. 65(10), pages 1417-1424.
    15. Wang, Hui & Yang, Zhaoping & Chen, Li & Yang, Jingjing & Li, Rui, 2010. "Minority community participation in tourism: A case of Kanas Tuva villages in Xinjiang, China," Tourism Management, Elsevier, vol. 31(6), pages 759-764.
    16. J. Scott Armstrong, 1979. "Advocacy and Objectivity in Science," Management Science, INFORMS, vol. 25(5), pages 423-428, May.
    17. Rice, Gillian, 2006. "Individual values, Organizational Context, and self-perceptions of employee creativity: Evidence from Egyptian organizations," Journal of Business Research, Elsevier, vol. 59(2), pages 233-241, February.
    18. Chapman, Alexis & Dilmperi, Athina, 2022. "Luxury brand value co-creation with online brand communities in the service encounter," Journal of Business Research, Elsevier, vol. 144(C), pages 902-921.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chapman, Alexis & Dilmperi, Athina, 2022. "Luxury brand value co-creation with online brand communities in the service encounter," Journal of Business Research, Elsevier, vol. 144(C), pages 902-921.
    2. Stathopoulou, Anastasia & Balabanis, George, 2019. "The effect of cultural value orientation on consumers' perceptions of luxury value and proclivity for luxury consumption," Journal of Business Research, Elsevier, vol. 102(C), pages 298-312.
    3. Ostovan, Nima & Khalili Nasr, Arash, 2022. "The manifestation of luxury value dimensions in brand engagement in self-concept," Journal of Retailing and Consumer Services, Elsevier, vol. 66(C).
    4. Gurzki, Hannes & Woisetschläger, David M., 2017. "Mapping the luxury research landscape: A bibliometric citation analysis," Journal of Business Research, Elsevier, vol. 77(C), pages 147-166.
    5. Sharma, Amalesh & Soni, Mauli & Borah, Sourav Bikash & Haque, Tanjum, 2022. "From silos to synergies: A systematic review of luxury in marketing research," Journal of Business Research, Elsevier, vol. 139(C), pages 893-907.
    6. Kauppinen-Räisänen, Hannele & Björk, Peter & Lönnström, Alexandra & Jauffret, Marie-Nathalie, 2018. "How consumers' need for uniqueness, self-monitoring, and social identity affect their choices when luxury brands visually shout versus whisper," Journal of Business Research, Elsevier, vol. 84(C), pages 72-81.
    7. Shukla, Paurav & Rosendo-Rios, Veronica & Khalifa, Dina, 2022. "Is luxury democratization impactful? Its moderating effect between value perceptions and consumer purchase intentions," Journal of Business Research, Elsevier, vol. 139(C), pages 782-793.
    8. Ko, Eunju & Costello, John P. & Taylor, Charles R., 2019. "What is a luxury brand? A new definition and review of the literature," Journal of Business Research, Elsevier, vol. 99(C), pages 405-413.
    9. Nobre, Helena & Simões, Cláudia, 2019. "NewLux Brand Relationship Scale: Capturing the scope of mass-consumed luxury brand relationships," Journal of Business Research, Elsevier, vol. 102(C), pages 328-338.
    10. Sardar Mohammadi & Hossein Abdolmaleki & Sholeh Khodadad Kashi & Ainara Bernal-García & Pablo Gálvez-Ruiz, 2021. "To Buy or Not to Buy: How Behavioral Habits Affect the Repurchase Intention of Cobranded Wearable Fitness Technology," Sustainability, MDPI, vol. 13(11), pages 1-16, June.
    11. Loureiro, Sandra Maria Correia & Jiménez-Barreto, Jano & Romero, Jaime, 2020. "Enhancing brand coolness through perceived luxury values: Insight from luxury fashion brands," Journal of Retailing and Consumer Services, Elsevier, vol. 57(C).
    12. Estelle Dinh & Hans Mühlbacher & Mariaterasa Torchia, 2024. "Necessary perceptions of family values and luxury characteristics for brand luxuriousness: evidence from luxury watch brands," Journal of Brand Management, Palgrave Macmillan, vol. 31(1), pages 58-78, January.
    13. Pillai, Kishore Gopalakrishna & Nair, Smitha R., 2021. "The effect of social comparison orientation on luxury purchase intentions," Journal of Business Research, Elsevier, vol. 134(C), pages 89-100.
    14. Sarasvuo, Sonja & Rindell, Anne & Kovalchuk, Marina, 2022. "Toward a conceptual understanding of co-creation in branding," Journal of Business Research, Elsevier, vol. 139(C), pages 543-563.
    15. Farhad Aliyev & Taylan Urkmez & Ralf Wagner, 2019. "A comprehensive look at luxury brand marketing research from 2000 to 2016: a bibliometric study and content analysis," Management Review Quarterly, Springer, vol. 69(3), pages 233-264, September.
    16. Pengji Wang & Adrian T. H. Kuah & Qinye Lu & Caroline Wong & K. Thirumaran & Emmanuel Adegbite & Wesley Kendall, 2021. "The impact of value perceptions on purchase intention of sustainable luxury brands in China and the UK," Journal of Brand Management, Palgrave Macmillan, vol. 28(3), pages 325-346, May.
    17. Rosenbaum, Mark S. & Ramirez, Germán Contreras & Campbell, Jeffrey & Klaus, Philipp, 2021. "The product is me: Hyper-personalized consumer goods as unconventional luxury," Journal of Business Research, Elsevier, vol. 129(C), pages 446-454.
    18. Alev Kocak Alan & Inci Dursun & Ebru Tumer Kabadayi & Kenan Aydin & Fikret Anlagan, 2016. "What Influences the Repurchase Intention for Luxury Brands?-The Relative Impacts of Luxury Value Dimensions," International Business Research, Canadian Center of Science and Education, vol. 9(5), pages 11-24, May.
    19. Purohit, Sonal & Radia, Karan Nilesh, 2022. "Conceptualizing masstige buying behavior: A mixed-method approach," Journal of Business Research, Elsevier, vol. 142(C), pages 886-898.
    20. Sudbury-Riley, Lynn & Hunter-Jones, Philippa & Al-Abdin, Ahmed & Lewin, Daniel & Spence, Rachel, 2020. "Conceptualizing experiential luxury in palliative care: Pathographies of liminal space, cathedral, and community," Journal of Business Research, Elsevier, vol. 116(C), pages 446-457.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijbmjn:v:21:y:2026:i:2:p:65. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.