Customer-perceived value in residential developments: the case of Hornsberg Strand, Sweden
2013 (English)In: International Real Estate Review, ISSN 1029-6131, Vol. 16, no 1, 1-27 p.Article in journal (Refereed) Published
This paper presents a new model using the structural equation technique. This model integrates productivity theory and customer-perceived value to identify those key features which residential customers are looking for when making their decision to buy or to rent a residential apartment. The theoretical structural equation model was confirmed using a dataset from 283 respondents, being potential tenants of an ongoing residential construction project in Sweden consisting of 402 rental apartments. Our results show that expectations of being able to relax in the immediate neighborhood as well to feel safe in the neighborhood had a high impact on customer perceived value. Moreover, analysis of a two bedroom apartment, used as a show apartment, shows that an apartment with plenty of natural daylight and a well proportional layout had 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 those when planning new development projects.
Place, publisher, year, edition, pages
Macau: Faculty of Business Administration , 2013. Vol. 16, no 1, 1-27 p.
Customer perceived value, productivity analysis, structural equation modeling, residential construction project
Economics and Business
IdentifiersURN: urn:nbn:se:kth:diva-59571OAI: oai:DiVA.org:kth-59571DiVA: diva2:475890
QC 20120119. Updated from accepted to published 20131202.2012-01-192012-01-112013-12-02Bibliographically approved