A Study on Housing Preference of Young Households using Stated-Preference Approach
The issue of housing preference has been widely researched in housing literature, because it provides valuable information for the planning and development of housing for various residential groups with different needs.
In Vietnam, the issue has not received proper attention from scholars and developers though the local housing market is going through a phase of rapid development and transformation. This thesis examines housing preference of young household in the capital city Hanoi with focus on condominiums in new urban areas, due to strong demand of the residential group for the specific type of housing.
The thesis employed a stated-preference approach with application of direct measurement and conjoint analysis methods to answer research question. A total of 92 responses were collected by mean of questionnaires delivered to customers who visited two real-estate agents in Hanoi.
Analysis of the empirical data shows that, households are most concerned about developers’ commitments and basic quality of the housing units.They appreciate child-friendly qualities of the living environment, as well as child-friendly facilities and services.
The analysis also reveals that price is the most influential attribute to households’ preference, followed by location and floor area. Of the households, majority prefer living close to city centers in order to have good access to jobs, schools, health-care and recreational services; while a small portion choose to live further from city center to get better living conditions, larger space, and lower price.
The preferences are then discussed in connection to current conditions of Hanoi urban areas in order to give implications for urban planning policies and new housing projects.
Author: Huong Lan, Hoang Thi