The Willingness to Pay for Energy-Efficient Residence in the Bangkok Metropolitan Region
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Abstract
This research is quantitative research. The purpose of this research is to assess the willingness to pay for those who are interested in buying energy-saving housing in Bangkok and the metropolitan region. This is survey research and the population used in this study is those who purchased, are purchasing and considering to purchasing energy-efficient housing. A total of 409 samples were randomly selected from a stratified random sampling with Contingent Valuation Method: CV together with query Double Bounded Close-Ended. From the compilation of variables that the researcher has reached, there are four variables that were considered important variables; price, location, reputation of real estate developers and energy-efficient housing. The reliability was at 95%. The data were analyzed using the Panel Random-Effects Logit Model.
The results showed that the sample was willing to pay the following extras. For horizontal residence (Detached house) they will choose in a metropolitan region by real estate developers. Therefore, the consumers are willing to pay more from the starting price of 1.23 million baht for the add-up of the energy saving would up to 1.92 million baht. For the vertical housing (Condominium), they will choose in Bangkok developed by general real estate developers and the consumers are willing to pay more from the starting price of 0.94 million baht for more energy savings to 1.76 million baht.
The findings of this study discovered that the aspects of people's lifestyles which importantly attached to the convenience near the workplace. Correspondingly, they preferred a condominium located in Bangkok and focus on energy savings to decrease their costs of living to the aspects of privacy requirements or need space to choose a place to live.
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