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1.4 Importance of the Study
The important of this study that carried out is directly to know the effect of price and knowledge acquisition on consumers property location selection. Apart
from that, it can give some ‘managerial implication’ for a guideline to developer to develop their property base on what factor that customers preferred to choose in
property purchasing.
This research was also important to give more ‘knowledge enrichment’ to the
property buyer to get the knowledge about the property field before contribute in buying property. Financial institution also can get advantage from this research, it is
because before give the loan to the developer it can know that the project can be developed or not base from what factor that can make the development be success.
1.5 Summary
This research was almost to clarify more on what makes effect of price and knowledge acquisition on consumers property location selection and also how do
they learn before they choose a location to buy the residential property. This can also be linked to the knowledge acquisition that the consumers have towards in their
location selection.
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CHAPTER 2
LITERATURE REVIEW
2.1 Introduction
Real estate is a unique, heterogeneous, long-lived asset involving cross- disciplinary fields Boon, 2005. According to Dunhill 2009, in recent years, the
property in Malaysia is getting a lot of attention both from local and foreign investors. This booming sector has attracted the attention of investors around the
world, but what is missing is the lack of knowledge on major financial and economic indicators considered critical to prospective investors Bunton, 2008. According to
Corgel et al. 1998, real estate is viewed from four perspectives: investment, market, mortgage finance, and legal, which aid investors in implementing and analyzing real
estate decisions. The purpose of real estate investment is to gain profit for the future to compensate the cost of forgoing present consumption Shim et al., 2008.
Apart from this, investigating decisions that can change the lives of
consumers, such as car or house purchase, could make essential contributions to a consumer’s behaviour knowledge Wells, 1993; Eze et al., 2011. Greater knowledge
of the factors which influence buyer behaviour will lead to better understanding and prediction of decision making in real estate markets Daly et al. 2003.
The objective of this chapter is to offer a comprehensive knowledge about the
subject of this research and also the boundary knowledge of this subject. Subsequently, the theorization will be used as a framework for the research
methodology and empirical conduct.
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2.2 Knowledge Acquisition Mechanism
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