Customer-perceived Value in Residential Developments: the Case of Hornsberg Strand, Sweden
This paper presents a new model by using a structural equation technique. This model integrates the productivity theory and customer-perceived value to identify key features that residential customers seek when making their decision to buy or rent a residential apartment. A theoretical structural equation model is confirmed by using a dataset based on 283 respondents, those who are potential tenants of an ongoing residential construction project in Sweden that consists of 402 rental apartments. The results show that expectations of being able to relax in the immediate neighborhood as well feeling safe in the neighborhood have a high impact on customer perceived value. Moreover, analysis of a two bedroom apartment, used as a show apartment, reveals that an apartment with plenty of natural daylight and a well proportional layout has the highest impact on customer perceived value. Professional developers and municipalities could use the proposed residential customer perceived value model (RCPV-model) to increase their understanding of customer-perceived values by verifying key drivers in successful residential projects and acting on them when planning new development projects.
Volume (Year): 16 (2013)
Issue (Month): 1 ()
|Contact details of provider:|| Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA|
Web page: http://www.asres.org/
|Order Information:|| Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA|
Web: http://www.asres.org/ Email:
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Grunert, Klaus G. & Bech-Larsen, Tino, 2005. "Explaining choice option attractiveness by beliefs elicited by the laddering method," Journal of Economic Psychology, Elsevier, vol. 26(2), pages 223-241, April.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
- Perry John Forsythe, 2007. "A conceptual framework for studying customer satisfaction in residential construction," Construction Management and Economics, Taylor & Francis Journals, vol. 25(2), pages 171-182.
- K. K. Lancaster, 2010. "A New Approach to Consumer Theory," Levine's Working Paper Archive 1385, David K. Levine.
When requesting a correction, please mention this item's handle: RePEc:ire:issued:v:16:n:01:2013:p:1-27. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (IRER Secretary Office/Webmaster)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.