consumer profile of appartment buyers

8/8/2019 Consumer Profile of Appartment Buyers

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Table of Content

Executive Summary.

Problem Definition ..

Background to the Problem.

Statement to the Problem

Approach to the Problem.

Research Hypothesis. Research Design ..

Scheduling

.

Information Needs....

Data Collection from Secondary Sources ...

Data Collection from Primary Sources..

Sampling Techniques ...

Field Work Data Analysis ...

Hypothesis Test

Findings

Limitations and Caveats ..

Opportunities for Additional Research ...

Conclusion....................

Appendix ..

Pg.

01

02

03

03

03

04 04

04

05

05

06

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07

07 38

43

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44

44

45


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Executive Summary

Readymade apartments for sale and the war for buying one has become a very much popular

trend in Bangladesh. Therefore this housing industry has made a significant growth over past

years. Various developers such as Building Technology and Ideas Ltd., Navana Real-estate

Limited, Rehab Housing, Eastern Housing Limited (EHL), Concord Grouphave been re-known

names in the housing industry in this regard. For years, they have been able to attract consumers

of all age groups and grabbed a large market. In addition to sustaining the role of being the

leading real estate developers in Bangladesh, their focus now is to make their brands

internationally known. Based on the home-grown success the companies look to enter the

international market and make the brands presence felt globally. However, in spite their

popularity in the country, there exists few questions and challenges in front of these large

developers about which they need to rethink and those challenges have become our purpose of

the research.

As it is a marketing research course it is important to have a little knowledge of what exactly a

marketing research is and what we are doing projects. According to the book, marketing research

is the systematic identification, collection, analysis, dissemination, and use of information for the

purpose of assisting management in decision making related to the identification and solution of

problems in marketing. A set of seven steps defines the tasks to be accomplished in conducting a

marketing research study. These steps include problem definition, development an approach to

the problem, research design formulation, fieldwork, data preparation and analysis, results and

report preparation and presentation

The main purpose of this research is to find out the consumer profile of the mainstream

apartment buyers and their main choice in buying a suitable apartment. In order to do that we

first identified the key variables in relevance to our research. Then we selected the appropriate

research design which was the Conclusive Research as our method of conducting the research.

We targeted all consumer groups as our representative sample and used the Survey Technique to


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measure the responses. After completing the survey we put the data in SPSS and have gone

through statistical analyses, such as Cross Tabulation & Chi-square test. Finally we mentioned a

few limitations of our research and some important points for the consumers as well as the

developers.

Problem Definition

Though the existing developers have established themselves as one of the strongest brands in

Bangladesh, they are now thinking to be global brands. Before that they must know the

perceptions of Bangladeshi customers which will help them to understand the position among thecustomers. Some are eager to know how the service quality and product offerings of the real

estate developers are affecting the customers. The decision problem of this research work is

Who are the actual buyers of the apartments and on what basis they choose one developer over

another. The research problem of this research project is To determine the customers

perceptions about product offerings and service quality of various developers.

The main purposes of the research are:

To identify customer purchase behavior of potential apartment/flat buyers

To develop accurate customer profile of potential apartment/flat buyers

To identify new trends in real estate industry

To review future and potential apartment buyers knowledge and options about real

estate

To find out the current position of the developers in the mind of consumer

To find out the customers view about product offerings along with service quality

To identify why one developer company is more popular than the other one


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Background to the Problem

The present situation in Bangladesh is getting tough for the consumers because of the intense

competition in the housing industry and there are a lot of new developers entering the market in

the last couple of years who are performing very well. So the consumers are facing a dilemma in

choosing the right apartment. Our research is based on this problem and our aim is to find out

what customers think about the product quality and customer service of these developers and

what factors affect their decision making process while buying an apartment. We will also try to

find some solutions to these problems as well.

Statement to the ProblemTo identify customer purchase behavior of potential apartment/flat buyers and to develop

accurate customer profile of the buyers

Approach to the ProblemFor doing this research work we first decided which type of research design would be suitable

for such a problem. We followed descriptive research to do the research. We also evaluated each

and every primary and secondary source. At first we talked to some of the buyers of ready flats

which gave us a clear view how the questionnaire should be prepared. According to that we

prepared the questionnaire and did the survey. We took a sample population from different areas

of Dhaka so that it can be more reliable and well reflective of our problem. After getting the

questionnaires answered we did necessary analysis to come to the conclusion. For analyzing, we

used statistical tool SPSS and used Frequency Test, Cross Tabulation, Regression etc to analyze.


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Research HypothesisWe have selected four hypotheses regarding this problem:

There is some association between size of the family and the purchase of the flat size.

There is some association between educational level and developer selection.

There is some association between consumer age level and availability of shopping

malls.

There is some association between family income and preferred location.

Research DesignResearch design is a framework or blueprint for conducting the marketing research project. It

details the procedures necessary for obtaining required information and its purpose is to design a

study that will test the hypothesis of interest, determine possible answers to research questionsand provide information needed for decision making. Our research design consists of various

parts which are integrated part of a research method.

Research design was one of the most important and significant issue while doing the research

paper. At first we understood the problem properly and according to that we took the steps for

doing the research.


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Scheduling

No. Process Description Duration in

days01 Pre research study and

design process

Questionnaire prepared and tested in the

field level.

02

02 Survey For survey 150 questionnaires are

conducted. A questionnaire contains 20

questions.

07

03 Data processing Crosschecking and data processing of

survey conducted with key information.

05

04 Data analysis and

report writing and

Submission of report

Data processed and analyzed 03

Information NeedsAs long as we have discussed about the research topic we have determined some the need of

some important information to conduct our research and related survey. Information is the most

precious and important material for every work in this world. As we are doing a research on

Housing industry so we had to collect all the necessary information regarding our research. We

talked to the customers and collected information from them about the different variables that

were used in our research paper. For example, price of different apartments, age of the

respondents, income level of the respondents and many other variables were needed to do theresearch.


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Data Collection from SecondarySourcesData collection is one of the most important parts of the research paper because the whole report

is based on the collected data from the different sources. It is important because the data has be

authentic, relevant and structured so that t can be used in the research. Its also important because

the results of the research will depend on the data collected from different sources. In our

research paper we did not collected a lot of data from the secondary sources. It was done on the

primary data sources. As we needed a lot of information regarding the perception of thecustomers so it was not possible to collect this information from any secondary source. We only

visited the official website of different developers and got very few information relating their

product offerings.

Data Collection from PrimarySourcesOur research is purely passed on the data collected from the primary sources. It is also good for

the research if it is done on the basis of primary sources because that will make the research

more close to the reality. As we needed a lot of information regarding the perception of the

customers so it was not possible to collect this information from any secondary source. So we

had to collect all the needed information from the customers through the interview session by

asking them different questions about the real estate industry. We collected many informationfrom number of respondents through the questionnaire and try to convert them into valid

information. We also visited offices of different developers to collect some information from the

management. So without the primary information it would have been impossible for us to do the

research on this topic.


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Sampling TechniquesSampling Unit

A survey was done on the 150 respondents who have actual and practical knowledge about the

real estate industry beforehand. Based on our topic and based on the nature of the problem we

followed the conclusive research method.

Population

The customers of the Housing industry can be people from all the age, occupational and sex

groups.

FieldworkWe did fieldwork to gather the information from various developers within the Housing industry. We also

talked to some of the customers of these companies which gave us a clear view how the questionnaire

should be prepared. According to that we prepared the questionnaire and did the survey. We took a

sample population from different areas of Dhaka so that it can be more reliable and well reflective of our

problem.

Data AnalysisAge and Gender of the Respondents

Gender * Age Cross tabulationAge Total

20-30 31-40 41-50 51 above


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Gender Male 34 26 9 9 78Female 14 6 5 0 25

Total 48 32 14 9 103

Analysis: Among the 103 respondents there are 34 male and 14 female

within the 20-30 age group which accounts for almost 47% of the total, 26

male and 6 females make up the 31-40 age group which accounts for close

to 32%, 9 male and 5 female falls under the 41-50 age group and only 9

male is accounted for in the 51 above age group. So, more male are included

in the survey than female.

Education level and Occupation of the Respondents

Education * Occupation Cross tabulationOccupation Total

Student Service Holder Self Employed Housewife

Education HSC/Alevel

10 0 2 2 14

Graduate 8 10 15 4 37Post

Graduate

1 35 15 1 52

Total 19 45 32 7 103


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Analysis: The educational and occupational data reveals that with the

HSC/A level segment there are 10 students, 2 self employed and 2

housewives which accounts for almost 14% of the total population. The next

segment graduate contains 8 students, 10 service holders, 15 self employed

and 4 housewives which accounts for 37% of the total population. The post

graduate criteria contains 1 student, 35 service holders, 15 self employed

and 1 housewife which is the largest portion 52% of the total.

Question 1: Are you interested to buy an apartment now or in near future?

InterestedFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid Yes 103 100.0 100.0 100.0No 47 0.0 0.0 0.0

Total 103 100.0 100.0


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Analysis: When we asked our respondents about whether they are interested to buy an apartment

now or in near future out of 150 sample size 69% respondents think that they are interested to

buy a apartment now or near future. 31% of our respondents are said that they are not interested

to buy an apartment. So we can say that major portion of our population size is interested to

purchase an apartment. . So this is a great opportunity for the apartment business concept, as

taking this opportunity will make the business successful in the long run.


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Question 2: Why do you want to buy an apartment?

Why Buy Frequenc

y

Percent Valid

Percent

Cumulative

PercentValid Accommodation 25 24.3 24.3 24.3

For Investment (to sale

it or rent it)

26 25.2 25.2 49.5

For better living

standard

52 50.5 50.5 100.0

Total 103 100.0 100.0

Analysis: We asked our respondents that what is the reason behind their decision of

purchasing apartment now or in near future. 51% of our respondents think that they would buy a

new apartment for better living standard. This portion of sample size are not care about money

they want a good apartment so that they could live comfortably. Than 25% respondent said that

they will buy a apartment for investment purpose. They will buy the apartment then they could

give rent or resale the apartment. Finally 24 % of our respondent thinks they will buy a

apartment for accommodation. So major portion of our respondents thinks that they will buy a

apartment for better living standards.


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Question 3 : Why you dont want to buy an apartment?

Why Dont

Frequency Percent

ValidPercent

CumulativePercent

Valid I have my own house to

live

30 20.0 20.0 20.0

Im living in a rented

house and I have no

accommodation problem

7 5.3 5.3 25.3

Apartments are too

expensive

10 6.7 6.7 32.0

Missing 103 68.0 68.0 100.0 Total 150 100.0 100.0

Analysis: As we see that 31% of 150 sample size said that they are not interested to purchase

a apartment. We ask them what the reason behind their decision is. Out of47 respondents 64 %

respondents said that they have their own house to live so they dont need to buy a new one.

Then 21% of respondents said that they are living in a rented house and they have no

accommodation problem. They are satisfied by their current residents. Finally 15% of 47respondents said that apartment is too expensive. They are not capable to purchase a new

apartment.


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Question 4: What is your average monthly income (in BDT)?

Monthly IncomeFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid 5,000-15,000 16 15.5 15.5 15.5

15,000-

30,000

36 35.0 35.0 50.5

30,000-

45,000

27 26.2 26.2 76.7

45,000 above 24 23.3 23.3 100.0 Total 103 100.0 100.0

Analysis: The average Monthly income of our 150 respondents is TK. 5,000 45,000 above.

Besides this 35% of respondents said that their monthly income is TK. 15,000- 30,000, 26.2%

respondents said that their monthly income is TK. 30,000-45,000. Then 23% respondent said that

their monthly income is TK. 45,000 above and finally 15.5% respondents said that their monthlyincome is TK. 5,000 15,000. So we can see that major portion of our respondents monthly

income is TK. 15,000- 30,000.


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Question 6: Are you a dependent member of the family?

DependencyFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid Yes 29 28.2 28.2 28.2

No 74 71.8 71.8 100.0 Total 103 100.0 100.0

Analysis: Out of 150 respondents 72% respondents think that they are not dependent member of

their family. Then 28% respondents said that they are dependable on their family. So we can see

that most of our respondents are not dependent member of their family.


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Question 7: How many members does your family have?

Family SizeFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid 2- 4 55 53.4 53.4 53.4

5- 7 41 39.8 39.8 93.28- 10 3 2.9 2.9 96.111

above

4 3.9 3.9 100.0

Total 103 100.0 100.0

Analysis: Most of the respondents said that their family size is 2-4. Here we find that 53.4%

people have 2-4 family members. Mainly small families are more interested to buy an apartment.

39.8% people having 5-7 family size. Only 2.8% people said that their family size is 8-10. We

also find 3.9% people having 11 and above family members.


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Question 8: Does any portion of monthly income come from a foreign remittance?

Foreign MoneyFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid Yes 30 29.1 29.1 29.1

No 73 70.9 70.9 100.0 Total 103 100.0 100.0

Analysis: 70.9% respondents said that any portion of monthly income doesnt come from

foreign remittance. So, most of the cases; they depend on their own income. Only 29.1% said

that some portion of monthly income come from foreign remittance.


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Question 9: What is your preferred location for the apartment?

Analysis: 19.4% respondents prefer Uttara as a location to buy an apartment. We find its the

most preferred location. They thought that, the cost will be less than Banani or Bashundhora.

18.4% people prefer Mirpur because of suitable location and cost. 16.5% prefer Gulshan, 14.6%

prefer Dhanmondi and 9.7% respondents prefer Bashundhora as a location. Only 5.8% people

Location

Frequenc

y

Percen

t

Valid Percent Cumulative

Percent

Valid Gulshan 17 16.5 16.5 16.5

Banani 8 7.8 7.8 24.3Baridhara 8 7.8 7.8 32.0Bashundhora 10 9.7 9.7 41.7Uttara 20 19.4 19.4 61.2Dhanmondi 15 14.6 14.6 75.7Mirpur 19 18.4 18.4 94.2Mohammadpur 6 5.8 5.8 100.0

Total 103 100.0 100.0


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said that they prefer Mohammadpur as apartments location; 7.8% prefer Banani and

Bashundhara.

Question 10: How much are you willing to spend on your apartment purchase?

PriceFrequenc

y

Percent Val id

Percent

Cumulative

PercentValid 20,00,000Tk-35,00,000

Tk

20 19.4 19.4 19.4

35,00,000Tk

-50,00,000Tk

32 31.1 31.1 50.5

50,00,000 Tk

-70,00,000 Tk

18 17.5 17.5 68.0

70,00,000 Tk above 33 32.0 32.0 100.0 Total 103 100.0 100.0


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Analysis: 32% are willing to spend 7,000,000 Tk and above to buy an apartment. They thought

if they spend these amounts of money, they can buy a perfect apartment which actually increased

their living standard. 31.1% people said they can spend 35,00,000 50,00,000 tk for apartment.

19.4% are willing to spend 20,00,000 35,00,000 tk and only 17.5% respondents said they are

willing to spend 50,00,000 70,00,000 tk to buy an apartment.


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Question 11: What should the preferred size of the apartment?

Flat SizeFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid 300-450 sqft 2 1.9 1.9 1.9

450-600 sqft 7 6.8 6.8 8.7600-750 sqft 16 15.5 15.5 24.3750-900 sqft 12 11.7 11.7 35.9More than 900

sqft

66 64.1 64.1 100.0

Total 103 100.0 100.0

Analysis: 64.1% of the people prefer more than 900 sqft flat size. They thought it will be more

comfortable for them. So, they need enough space for living. 15.5% prefer 600-750 sqft, 11.7%

prefer 750-900 sqft, 6.8% prefer 450-600 sqft and only 1.9% respondents prefer 300-459 sqft for

the size of their flat. We find that people do not prefer very small size flat for living.


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Question 12: Which floor is preferable for your apartment?

Floor

Frequency

Percent ValidPercent

CumulativePercent

Valid 1st floor 3 2.9 2.9 2.92nd floor 34 33.0 33.0 35.93rd floor 26 25.2 25.2 61.24th floor 6 5.8 5.8 67.05th floor 12 11.7 11.7 78.66th floor and

above

22 21.4 21.4 100.0

Total 103 100.0 100.0

Analysis: 33% prefer 2 nd floor. Most of them thought that 2 nd floor is more suitable for them.

25.2% prefer 3 rd floor, 21.4% prefer 6 th floor and above, 11.7% prefer 5 th floor, 5.8% prefer 4 th

floor and only 2.9% respondents prefer 1 st floor for living in the apartment. So, very few

respondents prefer 1 st floor.

Question 13: How many apartments should be there in the building?


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FlatsFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid 5-10 52 50.5 50.5 50.5

11-15 30 29.1 29.1 79.616-20 17 16.5 16.5 96.1more then

21

4 3.9 3.9 100.0

Total 103 100.0 100.0

Analysis: 50.5% prefer 5-10 apartments in the building. Most of the respondents think its not

necessary to huge apartments should be there in the building. So, they refer 5-10 apartments.

29.1% prefer 11-15 apartments, 16.5% prefer 16-20 apartments and 3.9% prefer more than 21

apartments in the building.


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Question 14: Do you want to pay for garage space?

Garage PayFrequenc

y

Percent Valid

Percent

Cumulative

PercentVali

d

Yes 69 67.0 67.0 67.0No 34 33.0 33.0 100.0

Total 103 100.0 100.0

Analysis: 67% of the respondents want to pay for the garage. Most of them have their own car

and other transport vehicle, thats why they want to pay for the garage, where around 33%

respondents dont want to pay for the garage space. Most of them might not have any private

transport vehicle.


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Question 15: How much service charge youre willing to pay (BDT)?

Service PayFreque

ncy

Perce

nt

Valid

Percent

Cumulative

PercentValid 2,000TK-3,000 TK 46 44.7 44.7 44.7

3,000 TK -4,000

TK

24 23.3 23.3 68.0

4,000 TK -5000 TK 27 26.2 26.2 94.25,000 TK above 6 5.8 5.8 100.0

Total 103 100.0 100.0

Now-a-days, every person has to pay a fair amount of money as service charge while staying in

the apartments. It includes the security guards salary, and maintenance charge of the machines

used in daily life such as, water pumps, and others. So the service charge is one of the common

factors of the apartments. According to our survey, about 45% respondents want to pay fewer

service charges of BDT 2000-3000. 23% want to pay around BDT 3000-4000 as the service

charge and around 26% of them want to pay the normal rate of BDT 4000-5000. There were only

few respondents, only 5%, who wanted to pay more than BDT 5000 as the service charge.


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Question 16: From which developer you would like to buy your apartment?

Developer

Frequency

Percent ValidPercent

CumulativePercent

Valid Concord 21 20.4 20.4 20.4Asset

Development

28 27.2 27.2 47.6

Dom-inno 25 24.3 24.3 71.8BDDL 7 6.8 6.8 78.6Assurance 1 1.0 1.0 79.6Bti 3 2.9 2.9 82.5Other 18 17.5 17.5 100.0

Total 103 100.0 100.0

Analysis: In present day, the reputation of the developer is also an important factor while buying

an apartment. People do not buy apartments from any unknown developer because they might

cheat or their plan might not be suitable for them. According to our survey, 27% respondents

want to buy apartments offered by Asset Developments, which is one of the well known

developers in the country. 24% want to buy from Dom-inno and 20% want to buy from Concord.

Where only few respondents want to buy from the less known developers, 6.8% want from

BDDL, 2.9% want from Bti, only 1% of them want it from Assurance. On the other hand, around

17% of the respondents want from their desired developer which is listed as others.


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Question 17: What should be the payment method?

Pay MethodFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid Full

Payment

13 12.6 12.6 12.6

Installments 90 87.4 87.4 100.0 Total 103 100.0 100.0

Analysis: Payment method is one of the biggest factors in our country. As it is a developingcountry, people do not have enough money to spend though they want to spend a lot. According

to our survey, majority respondents want to pay the amount of their apartment purchase price in

installments, where they can divide the whole amount into many small parts and pay monthly,

which might not affect in their economic condition. On the other hand, around 13% wants to pay

the whole amount instantly as full payment. This proportion of respondents might have a lot of

money and do not want to face any type of trouble while paying in installments.


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Question 18: What is the preferred time of delivery?

Delivery Time

Freque

ncy

Percen

t

Valid

Percent

Cumulative

Percent

Vali

d

Within 1-3 years 48 46.6 46.6 46.6

Within 3-5 years 36 35.0 35.0 81.6More than 5 years 6 5.8 5.8 87.4I dont want to wait, I

want ready flat

13 12.6 12.6 100.0

Total 103 100.0 100.0

Analysis: Time of delivery is an important factor while buying an apartment. In many cases,

the price of the apartment mostly depends on the delivery time. The less delivery time the more

the price, and the more the delivery time the less the price. According to our survey, majority

respondents, 46% want their apartments to be handed over within 1-3 years. About 35% wants it

within 3-5 years and a very few, around 5% wants it more than 5 years. But 13% respondents

want ready flats, because they do not want to wait.


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Question 19: In case of full payment how much discount is expected?

Exp DiscountFrequenc

y

Percent Valid

Percent

Cumulative

PercentValid 5%-10% 26 25.2 25.2 25.2

11%-

15%

26 25.2 25.2 50.5

16%-

20%

51 49.5 49.5 100.0

Total 103 100.0 100.0

Analysis: In buying an apartment, the payment method and the discount rate over full payment is

a very important factor. According to our survey, majority respondents want maximum discount

on full payment, around 51% want the discount rate to be 16%-20%. Where 26% respondents

want moderate discount rate of 11%-15% and other 26% want low discount rate of 5%-10%,

may be the low discount rate is accepted to encourage the installment payment method.


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Question 20: What are the criteria you consider while buying an apartment?

Price FactorFrequen

cy

Percen

t

Valid

Percent

Cumulative

PercentValid Strongly

Agree

86 83.5 83.5 83.5

Moderately

Agree

13 12.6 12.6 96.1

Neutral 4 3.9 3.9 100.0 Total 103 100.0 100.0

Price is the most important factor while buying an apartment indiscriminate of the age, gender,occupation of the respondent and almost 90% are very sensitive of the price factor.


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Goodwill of Developers

Frequenc

y

Percent Valid

Percent

Cumulative

PercentValid Strongly Agree 45 43.7 43.7 43.7

Moderately Agree 40 38.8 38.8 82.5Neutral 16 15.5 15.5 98.1Moderately

Disagree

2 1.9 1.9 100.0

Total 103 100.0 100.0

Goodwill is also a very important factor in making the purchase decision of an apartment.

Almost 70% of the respondents are strongly in favor of the goodwill of the developer in choosing

an apartment.


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Noise Free Environment

Frequenc

y

Percent Valid

Percent

Cumulative


Moderately Agree 22 21.4 21.4 86.4Neutral 11 10.7 10.7 97.1Moderately

Disagree

3 2.9 2.9 100.0

Total 103 100.0 100.0

The result of this noise free environment is quite interesting, though most of the respondents

(about 87%) want a noise free environment almost all of them want their apartment to be close to

main road.


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Availability of Public TransportFrequen

cy

Percen

t

Valid

Percent

Cumulative


Moderately

Agree

35 34.0 34.0 83.5

Neutral 13 12.6 12.6 96.1Moderately

Disagree

3 2.9 2.9 99.0

Strongly

Disagree

1 1.0 1.0 100.0

Total 103 100.0 100.0

The necessity of public transport is also an important issue while choosing the right apartment,

almost 87% of the respondents wants public transport facilities near their apartment, very few

respondents are against the issue.


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Availability of HealthCare FacilitiesFrequency Percent Valid

Percent

Cumulative


Moderately Agree 31 30.1 30.1 55.3Neutral 42 40.8 40.8 96.1Moderately Disagree 3 2.9 2.9 99.0Strongly Disagree 1 1.0 1.0 100.0

Total 103 100.0 100.0

Irrespective of the importance of health care facilities around the apartment our respondents are

not quite sure about this criterion while choosing their apartment. 55% of them want health care

and the rest are unsure of the fact.


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Availability of Educational Institutions

Frequenc

y

Percent Valid

Percent

Cumulative

Percent

Valid Strongly Agree 25 24.3 24.3 24.3Moderately Agree 35 34.0 34.0 58.3Neutral 39 37.9 37.9 96.1Moderately

Disagree

2 1.9 1.9 98.1

Strongly Disagree 2 1.9 1.9 100.0 Total 103 100.0 100.0

While choosing an apartment our respondents, in fact 60% of them agreed that they want

schooling facilities around their apartment and the rest are in a neutral position.


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Availability of Banks

Frequency Percent Valid

Percent

Cumulative


Moderately Agree 20 19.4 19.4 64.1Neutral 34 33.0 33.0 97.1Moderately Disagree 2 1.9 1.9 99.0Strongly Disagree 1 1.0 1.0 100.0

Total 103 100.0 100.0

Banks and other banking facilities seem to be an important factor while choosing a suitable

apartment. Almost 70% of the respondents want banking facilities around their apartment and the

rest disagrees.


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Hypothesis Test

H ere, we are going to do some cross tabs analysis and Chi- Square tests for better analysis of the

research and derive best possible output from the research. We determined to conduct and run

cross tabs and Chi-Square analysis for some important aspects and points of this report which

would be supporting for testing our main hypothesis. Some fields we have conducted our cross

tabs and Chi- Square tests are-

There is some association between size of the family and the purchase of the flat size.

There is some association between educational level and developer selection.

There is some association between consumer age level and availability of shopping

malls.

There is some association between family income and preferred location.

Now, we are going to analyze and interpret all these to get supporting points for our main

hypothesis.


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1. Customers attitude towards flat size in accordance to the number of family

members.

Ho: There is some association between size of the family and the purchase of the flat size.

H1: There is no association between size of the family and the purchase of the flat size.

Family Size * Flat Size Cross tabulationFlatSize

300-450 sqft 450-600 sqft 600-750 sqft 750-900 sqft More then 900

sqft

Total

FamilySize 2-4 1 4 12 10 26 555-7 1 0 1 0 37 418-10 0 0 0 1 2 311

above

0 0 2 1 1 4

Total 2 4 15 12 66 103

Chi-Square TestsValue df Asymp. Sig. (2-sided)

Pearson Chi-Square 30.455 a 15 .010Likelihood Ratio 37.385 15 .001Linear-by-Linear Association 2.479 1 .115N of Valid Cases 103

Decision: Here = 2.5% or 0.025 and the Sig. value is 0.010. So, we have to accept the Ho.

Therefore, the decision is there is some association between size of the family and the purchase

of the flat size.

2. Customers preference for particular developers depending on their level of

education.


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Ho: There is some association between educational level and developer selection.

H1: There is no association between educational level and developer selection.

Decision: Here = 2.5% or 0.025 and the Sig. value is 0.061. So, we have to Reject the Ho.

Therefore the decision is there is no association between educational level and developer

selection.

3. Customers attitude towards having shopping malls depending on their respective

age.

Ho: There is some association between consumer age level and availability of shopping malls.

H1: There is no association between consumer age level and availability of shopping malls.

Education * Developer Cross tabulationDeveloper Total

Concor

d

Asset

Development

Dom-

inno

BDDL Assuran

ce

Bti Other

Education HSC/A level 2 2 3 2 0 0 5 14

Graduate 9 8 5 4 0 1 10 37Post

Graduate

10 18 17 1 1 2 3 52

Total 21 28 25 7 1 3 18 103


Pearson Chi-Square 20.309 a 12 .061Likelihood Ratio 22.278 12 .035Linear-by-Linear Association 8.047 1 .005N of Valid Cases 103


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Age * Malls Cross tabulationMalls Total

Strongly

Agree

Moderately

Agree

Neutral Moderately

Disagree

Strongly

Disagree

Age 20-30 6 23 16 0 3 4831-40 4 10 17 1 0 3241-50 2 6 5 1 0 1451 above 4 3 1 0 1 9

Total 16 42 39 2 4 103


Pearson Chi-Square 17.704 a 12 .125Likelihood Ratio 18.130 12 .112Linear-by-Linear Association .800 1 .371N of Valid Cases 103

Decision : Here = 2.5% or 0.025 and the Sig. value is 0.125. So, Sig. value is greater than

the . Therefore, we can reject the Ho and the decision will be there is no association between

consumer age level and availability of shopping malls.

4. Association between Family Income and preferred location.

Ho: There is some association between family income and preferred location.

H1: There is no association between family income and preferred location.

Family Income * Location Cross tabulation

Location T

Gulshan Banani Baridhara Bashundhora Uttara Dhanmondi Mirpur Mohammadpur

Family

Income

20,000-

40,000

0 2 2 1 1 0 11 1 18


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40,000-

60,000

2 2 1 1 9 3 2 3 2

60,000-

80,000

2 1 2 7 3 10 3 2 30

80,000-1,

00,000

3 2 1 1 2 0 2 0 1

1, 00,000

above

10 1 2 0 5 2 1 0 2

Total 17 8 8 10 20 15 19 6 103


Pearson Chi-Square 77.090 a 28 .000Likelihood Ratio 75.135 28 .000Linear-by-Linear

Association

18.597 1 .000

N of Valid Cases 103

a. 38 cells (95.0%) have expected count less than 5. The minimum expected count is .64.

Decision : Here = 2.5% or 0.025 and the Sig. value is 0.000. So, Sig. value is greater than .

Therefore, we can accept the Ho and the decision will be there is some association between family

income and preferred location.


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Findings

We have done this research targeting 150 as the sample size and the people living in Dhaka city.

Our questionnaire contains all together 20 questions with a likert scale to support our hypothesis.

We used sample test analysis and chi-square test to support the analysis process. Our findings

show majority of the respondents of our sample population prioritize price, location, developer in

choosing their preferred apartment. However some of the respondents strictly mentioned that it is

good to have main road, banking and transportation facilities close to their apartment.

We have also seen that people give preference to their time and labor and want ready flats rather than to wait for their investment. The respondents also are ready to pay high price and charge if

they are getting the most out of their investment.

Limitations and CaveatsEvery marketing research will have some limitations. Therefore, while doing our

report we have also faced few limitations which are as follows:

Time was the key constraints of our report. Due to lack of time we could not raise our

total sample size. Therefore lower sample size means more estimation error.

Respondents give invalid and incorrect responses so it is difficult to measure the accuracy

of the responses. Thus, it can result in quantitative estimation error due to respondent

miscomprehension.

Respondents unwillingness to fill up questionnaire properly.

We could not get appropriate results in every statistical analysis due to random answersgiven by respondents.

Since apartments main customers are male the analysis and findings are dominated by

male respondents.


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Due to lack of proper time we could not have the geographic coverage which was very

much important.

Opportunities for AdditionalResearch

Our research was done only for the people of Dhaka city. But in future we can conduct

same research for other areas.

Our sample size was only 150, but there is a scope to select a much larger sample size

and conduct the research in future.

We can conduct research by not only questionnaire but also by doing phone interview,

online survey as well.Also we can get information by observing consumers attitude or behavior for research.

Conclusion

After the successful completion of the research, we have found that our hypothesis is very

relevant. We have also found that there is a very attractive market for the apartment sellers and

buyers can get the best deal through various developers. Therefore, as per our research, we

would recommend investors and buyers to invest in the best possible area choosing the best

possible developer.


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QuestionnaireThe following survey contains questions about real estate specifically apartments. The findings from this

survey will be used to prepare a research paper. Your answers will remain anonymous and wed

appreciate your honest opinion to the questions.Gender :

Male Female

Which age group are you in?

20-30 31-4041-50 51 and above

Education Level:

SSC/O level HSC/A level

Graduate Post Graduate

Occupation:

Student Service Holder

Self Employed Housewife

1. Are you interested to buy an apartment now or in near future?

Yes (Skip to question 3) No (Tick mark only Question 2)

3. Why do you want to buy an apartment?

Accommodation

For Investment (to sale it or rent it)

For better living standard

2. Why you dont want to buy an apartment?

I have my own house to live.

Im living in a rented house and I have noaccommodation problem.

Apartments are too expensive


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4. What is your average monthly income (in BDT)?

5,000-15,000 15,000-30,000

30,000-45,000 45,000 above

5. What is your average family income (in BDT)?

20,000-40,000 40,000-60,000

60,000-80,000 80,000-1, 00,000 1, 00,000 above

6. Are you a dependent member of the family?

Yes No

7. How many members does your family have?

2-4 5-7

8-10 11 above

8. Does any portion of monthly income come from a foreign remittance?

Yes No

9. What is your preferred location for the apartment?

Gulshan Banani Baridhara Bashundhora

Uttara Dhanmondi Mirpur Mohammadpur

Other (Please Specify)______________________

10. How much are you willing to spend on your apartment purchase?

20,00,000Tk-35,00,000 Tk 35,00,000Tk -50,00,000Tk

50,00,000 Tk -70,00,000 Tk 70,00,000 Tk above


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11. What should the preferred size of the apartment?

300-450 sq ft 450-600 sq ft

600-750 sq ft 750-900 sq ft

More then 900 sq ft

12. Which floor is preferable for your apartment?

1st floor 2nd floor 3rd floor

4 th floor 5 th floor 6 th floor and above

13. How many apartments should be there in the building?

5-10 11-15

16-20 more then 21

14. Do you want to pay for garage space?

Yes No

15. How much service charge youre willing to pay (BDT)?

2,000-3,000 3,000-4,000

4,000-5000, 5,000 above

16. From which developer you would like to buy your apartment?

Concord Asset Development Dom-innoBDDL Assurance Bti

Alien Properties Other (Please specify)_____________

17. What should be the payment method?

Full Payment Installments

18. What is the preferred time of delivery?


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Within 1-3 years Within 3-5 years

More than 5 years I dont want to wait, I want ready flat.

19. In case of full payment how much discount is expected?

5%-10% 11%-15% 16%-20%

20. What are the criteria you consider while buying an apartment?

Purchase price of the Apartment

Goodwill of the Developers

Near to main road

Noise free environment

Availability of public Transportation

24x7 Health care facilities

Good Educational institutions at walking distance

Office/Business location at walking distance

Banking facilities( Branches, ATMs)

Availability of Big Shopping malls at walking distance

Thanks for your time!

consumer profile of appartment buyers

Documents