Factors Influencing Condominium Purchase Intention through Virtual Reality Video Viewing

Abstract

This study aimed to examine the factors associated with the intention to purchase a condominium after viewing a virtual reality (VR) video and to compare this intention across different generational groups: Baby Boomers, Generation X, Generation Y, and Generation Z. A quantitative research methodology was employed, collecting data via questionnaires from 541 Thai participants aged 20 years and above. All participants were eligible to own property and had no prior experience using VR technology for condominium selection. The research instrument demonstrated high reliability, with a coefficient exceeding 0.70. Data analysis involved descriptive statistics (means and standard deviations) and inferential statistics, including the Kolmogorov–Smirnov test, Spearman Rank Correlation, and the Kruskal–Wallis test.

The findings revealed that factors associated with purchase intention varied by age group. Overall, trust was the most significant correlating factor (r=0.545, p<.001), followed by VR stimulation, and then hedonic and utilitarian values. Specifically, Baby Boomers showed a strong correlation with trust. For Generations X and Y, both trust and utilitarian value were significantly correlated.         In contrast, Generation Z's purchase intention correlated only with trust and VR stimulation. Group comparisons indicated a statistically significant difference in purchase intention among generations (p<.001), with Generation Z exhibiting the highest mean rank, followed by Generation Y, Generation X, and Baby Boomers, respectively. These results highlight a higher purchase inclination among younger generations when exposed to VR for condominium viewing.