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The COVID-19 situation has had an impact on people's lifestyles, making it more important than ever to stay at home and have a place to live. The purpose of this study was to investigate the decision-making process for purchasing a medium-priced townhome in Don Mueang during the COVID-19 pandemic, 2020–2022. Data were collected through surveys and interviews with 80 customers. The study analyzed two projects of a townhome project of a company listed on the Stock Exchange and two projects of a townhome project of a company not listed on the Stock Exchange of Thailand, for a total of four projects. During the COVID-19 pandemic, we conducted a comparative analysis of buyer characteristics and decision-making processes for townhomes.
The study found that 1) the townhome buyers of moderately-priced units during the COVID-19 pandemic were 24–30 years old, accounting for 57 percent; 28 percent worked in online sales or merchants; and 45 percent had an average household income of 100,000 baht or more per month. The majority of customers (28 percent) owned their original residential properties as rental condominiums. 2) The purchasing decision is divided into five steps: (1) Awareness of the problem; due to the original housing being used as a rental, there was insufficient usable space. For this reason, more space and home ownership was required. (2) Information search through Facebook advertisements, including information search on the website using the search term "House in Don Mueang." (3) Alternative evaluation: After receiving the information, the customer visited two projects and was interested in one of them, taking into account product factors and thus making a decision to purchase a townhome faster during the COVID-19 pandemic. (4) Purchasing Decisions: During the COVID-19 pandemic, the decision to purchase a townhome took 5-7 months, with the family and purchasers both participating. (5) Post-purchase behavior: Highly satisfied with the multipurpose room and park space, which performed admirably during the COVID-19 pandemic. 3) For townhome customers, the main reasons for deciding to purchase this townhome were a variety of multipurpose room spaces, lower interest rates reflecting the reduced repayment period, and promotions, discounts, and free gifts that made it worth purchasing a house at this time. 4) The factors in the COVID-19 pandemic and the decision to purchase a townhome were: the location near the source of amenities. The product aspect is the design of a space that emphasizes privacy for family members as well as brand credibility. The price is the amount of the down payment or installment amount per month, less common expenses. Promotional aspects include special discounts and freebies. 3) The main reasons for townhome customers to decide to purchase this property were a variety of multipurpose room spaces, lower interest rates reflecting the shorter repayment period, and promotions, discounts, and free gifts that make purchasing a property during this period valuable. 4) The following factors were influenced by the COVID-19 pandemic and the decision to purchase a townhome: the location near the source of facilities. The design of a space that prioritizes privacy for family members as well as brand credibility is the product aspect. The price is the amount of the down payment or monthly payment, less common expenses. Special discounts and freebies are examples of promotional features.
This research points out the decision-making process for purchasing a moderately priced townhome. There were important factors that made purchasing a house quicker during the COVID-19 pandemic, especially the shift from renting a house to purchasing a house because the owner needed more living space, as well as lower interest rates, special discounts, and good after-sales service. This study can be used as a guideline for entrepreneurs to be aware of the purchase decision process during this period and to develop residential projects to meet the needs of customers in the future. |
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