Evaluating Consumer’s Behaviour Towards Investing in Sustainable Luxury Real Estate
Evaluating Consumer’s Behaviour Towards Investing in Sustainable Luxury Real Estate
Author(s): Nikhil Sharma, Susan Nwadinachi AkinwalereSubject(s): Social psychology and group interaction, Behaviorism, Socio-Economic Research
Published by: Transnational Press London
Keywords: Consumer behaviour; sustainable luxury; real estate; Theory of Planned Behaviour;
Summary/Abstract: This study investigates consumers' investment inclinations towards sustainable luxury real estate. It does so by assessing the influence of various factors, namely environmental concerns, attitudes, subjective norms, perceived behavior control, and the perception of purchasing or investing in sustainable luxury real estate. Additionally, the study examines how consumer gender and age intersect with these factors to affect purchase intentions regarding sustainable versus non-sustainable luxury real estate. The research extends the Theory of Planned Behavior by incorporating the dimension of environmental concern, recognized as a pivotal element in shaping consumer intentions towards sustainable products. Data was collected from 282 respondents worldwide, aged between 18 and 40, reflecting the global relevance of environmental concerns. Data analysis was conducted using Microsoft Excel for coding and IBM SPSS version 26 for statistical analysis. The findings underscore the significant impact of environmental concern, subjective norms, attitude, and consumer perception on purchase intentions for environmentally sustainable luxury real estate. Furthermore, the research reveals notable disparities between male and female consumers and across various age groups concerning perceptions of sustainable luxury real estate.
Journal: Transnational Business and Management
- Issue Year: 1/2023
- Issue No: 2
- Page Range: 69-91
- Page Count: 23
- Language: English