Housing Selection Behaviour of Successful People a Case Study of Young Self Made Millionaire

Abstract

             Recently, Thai consumers have been very cautious with their spending due to the reduction within their earnings amid a continuing economic slowdown. While the high-end housing market is said to be growing incongruently with the economy. Currently, there are numerous housing alternatives for consumer to choose upon where the high-end residence is said to be in demand by the successful people since they are the segment that can select among the widest range of the various housing alternatives available within the market. This study therefore desires to study the behavior of the successful people represented by the guests from a TV show, the Young Self Made Millionaire on their endeavors in selecting a residence. 

            Since the selection of the guests from the show, the Young Self Made Millionaire is required to meet all of the 3 criteria which includes owning a business, the yearly income of the business exceeds THB 100 Million and is not over 45 years old of age. Apart from that, the reliability of the TV show is without doubt and aligns with the social norm of what a successful people are. This research study aims to analyze the behavior, the tendency within the selection of the residence along with the study of the economic and social aspects with the residence planning of those successful people. As a result, the study will portray the characteristics of a residence that is demanded by the Generation X and Y successful peoples. The research study will be done by one-on-one structural interviews and descriptive analysis.

            The result has shown that it is compulsory for the successful group to select a residence that is located not further away from their workplace within the suburb area. The most important factors that affects the decision for residence selection is the family members followed by location of their workplace. Whereas, the type of residence preferred is the single detached house and facilities such as security systems, CCTV, plantings and parking areas.

            In conclusion, the degree of success is one of the most influential factors in one’s decision for selection. The successful people prefers new residence, good ambient, community and is secured. However, successful people will have residences to live in and also have their property for investment or future expansion for their company.