Purpose – The purpose of this paper is to investigate whether residential buyers' beliefs about the built environment in a specific place influence their willingness to buy in a large-scale real-estate development (RED) by developing and testing a new attitude scale.
Design/methodology/approach – The empirical study is carried out in two phases. The first phase is a qualitative laddering study to capture the beliefs of potential buyers visiting open sales of apartments on sale in the RED of Frösunda, Sweden. In the second phase, a multivariate analysis is carried out to identify and measure factors that have an influence on their willingness to buy.
Findings – Five factors are found that describe buyers' beliefs about the built environment: urban environment, architecture, relaxation, safety and liveliness. Buyers' and non-buyers' attitudes towards these factors vary depending on the characteristics of the built environment. The means-end chain model and laddering technique proves useful in eliciting beliefs that describe how a particular place is perceived by potential buyers.
Research limitations/implications – These findings stem from one case study and a retest should be made using an independent sample to assess the generalisation of the scale.
Originality/value – This paper demonstrates novel research using the laddering technique, how real-estate buyers' attitudes and their evaluation of performance of the built environment vary depending on location. Practitioners will have a new tool for RED, if the RED scale proves to be broadly applicable to access real-estate buyers' evaluation of the performance of a residential development.
Attitudes, Beliefs, Real estate, Residential property, Social environment, Sweden