Purchase Intention of Apartments in a Metropolitan Area in Vietnam: The Mediating Role of Attitude Toward Behavior

Abstract

This study aims to investigate the intention to purchase an apartment to better understand the actual situation of the real estate market in the metropolis areas of Vietnam, like Ho Chi Minh City. Eight constructs are identified based on extending the theory of planned behavior (TPB), and eight hypotheses are proposed. A questionnaire is conducted with buyers of apartments which provided a total of 517 responses for a data analysis with the structural equation model in Bloemer and Kasper (1995), and used to validate the proposed hypotheses. Attitude toward behavior (ATB) is found to be the most important determinant, followed by subjective norms and perceived behavioral control. In addition, project facilities, location, environmental issues, and price and credit have positive effects on ATB and indirect effects on behavioral intention through ATB. Meanwhile, the relationship between physical quality and ATB is insignificant. Thus, ATB plays an important role in enhancing the purchase intention of buyers of apartments at this stage. The findings of the study have valuable implications for the government and real estate developers in order to meet consumer demand. Besides, the competitiveness and sustainability of the real estate industry in Vietnam might be enhanced through practical activities.

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