Research Proposal 470

7/31/2019 Research Proposal 470

http://slidepdf.com/reader/full/research-proposal-470 1/16

Research Proposal on

The Real Estate Market Represents anImbalance Between Consumer Buying Power

and Market Pricing

Group Members ID

MD. Emran Haque Razi 073-025-030

M. Asif Ul Islam 073-276-030

M Habibullah Sarker 073-038-030Tahsin Ashraf 052-600-030



Background

The Real Estate Business industry in Bangladesh is still abooming market.

There has not been much advancement in this business

sector other than the urban and suburban city areas.

Though the demand for apartments will never fall, the price

range may become barely affordable for the most of the

buyers in the near future.

This indication leads to a question that what possible

changes may the industry go through in near future and what

possible way could be effectual for overcoming the crisis and

meeting consumer demand within their affordability.

As observed in the western world, the concept of Studio

Apartment and Semi-Studio Apartment



Statement of the Problem

The current scenario in the real estate market represents animbalance between consumer buying power and market

pricing. Even though demand is sky high and increasing day

by day, sales of apartments are nominal compared to that.

Having said that we can surely state that there lays a gap in

the market. This gap exists because of the differencebetween apartment price and consumers’ purchasing power.

As such, the ability of the consumers to buy an apartment is

getting out of their reach and none seems concern about this

issue. At this point, the increasing imbalance in the market

and no available solution is making the condition even morecomplex.



Research Objectives

To find out what are the most important factors thatconsumers consider for buying an apartment.

To measure consumers’ rating and importance of different

factors, which play influential role while making a purchase

decision of an apartment.

To find out the core and most necessary community services

an apartment must provide with to the buyers (consumers).

To evaluate the feasibility of Studio and Semi-Studio

Apartment (Efficiency Apartment) concept in Bangladesh

currently and in the future.





Research Methodology

The data we have collected can be divided into twocategories based on the data collection techniques, study

sample and source of information. Those two categories are

Primary Data and Secondary Data.

Primary data refers to the data collected from the survey that

we have conducted among the samples of the targetconsumers who are assumed as representatives of the target

population.

Secondary data refers to the data that we have collected from

various online articles, in-depth interviews and focus group

discussion.





Data Collection Method

Primary data collection for our research was done throughquestionnaire survey. The questionnaire includes multiple-

choice question and scale such as Interval Scale, Semantic

Differential Scale and Likert Scale were used to rate the

importance of different attribute and understand consumer

preference and insight regarding the decision making processof purchasing an apartment. All the questions were closed-

ended questions except one to encourage easy response

from the customers and to allow the researcher to use

statistical tests in evaluating the findings of the study.



Sampling Method

We have decided to choose our sample based on a blend of probability Sampling, Convenience Sampling, Judgment

Sampling and Quota Sampling. On the other hand, using the

Quota sampling method, we decided to pick females as 25%

of our total samples. To make the process more relevant we

picked students as 30% of our total samples. We alsodecided to survey a total of 45% of service holder and

entrepreneur to have an overall idea about the consumer

insight regarding the feasibility of studio apartment concept in

Bangladesh. The survey was basically for the potential studio

or semi studio apartment buyers aging from 18 to 35 years.



Questionnaire

Whom do you live with? Friends

Family

Relative

Alone

What's your residence type?

Own house/Apartment

Rented Apartment

Is there any possibility that you may buy an apartmentwithin next 5-6 years?

Yes

No



Less

Important

Somewhat

unimportant

Neutral Somewhat

Important

Important Very

Important Importance of

Location

Importance of

Apartment sizeImportance of Price

per square feet

Importance of

Security

Importance of Floor

plan (Interior Layout)

Importance of

Exterior Structure(Outlook)

Importance of Brand

Name (Developer)

Importance of

Community Facilities

Importance of

municipal facilities

What are the most important factors consumers considerbefore making an apartment purchase decision?

Questionnaire





Questionnaire

Which Size of apartment would you like to buy? 500-1000 sft

1001-1500 sft

1501-2000 sft

2000sft and above

Which price range sounds reasonable to you for buying an apartmentin a posh area of Dhaka?

4000-6000 Tk/sft

6001-8000 Tk/sft and above

8000Tk/sft and above

After 5-6 years from now within which price range consumers canafford to buy an apartment at a posh area of Dhaka?

6000-8000 Tk/sft

8001-10000 Tk/sft

10001Tk/sft and above



Which community facilities consumers consider in an apartmentcomplex?

Least Important Less important Neutral Moderatelyimportant Most important

Importance of

Community Hall

Importance of

Swimming Pool

Importance of

Car Parking

Importance of

Laundry service

Importance of

gym/health club

Importance of

indoor games

Importance of

Tech Support

(Satellite TV,

Internet)

Importance of

Electricity

Backup

Importance of

Utility Billing

Service

Questionnaire



How influential are the factors Electricity Backup, Car Parking,Tech. Support and Utility Billing Service?

Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree

In terms of furniture, what type of apartment would you choose?

Fully Furnished Apartment

Semi Furnished

Unfurnished

If you decide to buy a furnished apartment, which Brand’s furniture

would you prefer? Studio 45

Otobi

Akhter Furnitures

Navana Furniture



Thank

You

Documents

Research Proposal 470