Decision-Making Process on Buying a Moderate-price Townhome during the Covid-19: A Case Study of 4 Townhome Projects on Sale from 2020 to 2022 in Don Mueang, Bangkok

Abstract

The study examines the consumer decision process for buying a townhome during COVID-19, 2020–2022. Collected data by surveying and interviewing 80 consumers. These were townhome projects of companies listed on the Stock Exchange of Thailand and townhome projects of companies not listed on the Stock Exchange of Thailand, 2 projects each, for a total of 4 projects. Analyze comparative data on buyer characteristics and the consumer decision-making process for a townhome during COVID-19.

The results of the study were as follows: 1) Most townhome buyers were between 24-30 years of age, representing 60%, and had an average household income of more than 100,000 baht per month. As for the townhome buyers of companies that are not SET, they have a career in online trading or selling and an average household income of 70,000–99,000 baht. 2) Most of the buyers had their original residence in a condo, accounting for 28%, followed by renting a house, accounting for 24%. 3) The decision-making process for buying a townhome during COVID-19 has resulted in faster home purchases as buyers demand more living space. However, COVID-19 plays an important factor in buying in addition to the price factor. Buyers take the time to make a purchase decision in the range of 5-7 months by searching for information from online channels through Facebook using the words "Don Mueang housing projects". After the consumer got the information, they went to visit two house projects and were interested in one. However, the participants in purchasing decisions are their families and themselves. The buyer applied for only one loan. After the buyer has lived in the house, he is satisfied with the space for a multipurpose room and park that respond to the use during the COVID-19 period.

This research points out the decision-making process for purchasing a moderately priced townhome. There are important factors that make buying a house faster during COVID-19, especially the shift from renting to buying a house because they need more living space. This can be used as a guideline for entrepreneurs to be aware of the purchasing decision process during this period and can lead to guidelines for developing residential projects to meet the needs of buyers.