Real Estate in China: Consumer Behaviour of the Middle Class

Lee, Yan Yan (2013) Real Estate in China: Consumer Behaviour of the Middle Class. [Dissertation (University of Nottingham only)] (Unpublished)

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This research examines middle class consumer behaviour in the real estate market in China. The study aims to explore the factors that motivate behaviour middle class people in China to purchase real estate. The research focuses on the perceptions of Chinese middle class consumers of housing and behaviour the reasons that they invest in property.

A literature review was carried out to exploring the definition of the Chinese middle class and the defining the characteristics of this group of individuals. The factors affecting the motivation and decision-making of consumers, as well as the consumer culture towards purchases are explored. With the support of the literature review, a qualitative study was conducted to find out the questions. Specifically, in-depth and semi-structured interviews with eight middle class subjects were used to investigate consumer behaviour related to housing in this group of people. Short interviews with two estate brokers and observation of two housing sales events were also carried out, in order to ensure the validity and reliability of the findings.

Several factors were found to explain the real estate consumption behaviour of the Chinese middle class. Firstly, the economic position Chinese middle class of these individuals drove them to engage in real estate consumption. At the same time, the implementation of housing reform in China also helped to motivating them to consume this commodity. The data indicated that the symbolic meaning of personal distinction of owning real estate attracted these consumers them to purchase a house, in order to present their identity and status to others. These consumers also desired to have a ‘middle class lifestyle’. Lastly, the findings show that the influence of the concept of ‘family’ in Chinese culture motivated the middle class people to consume real estate. These results will eventually help to generate several managerial implications for estate developers and property managers, in particular in relation to the marketing communication between the estate developers and potential middle class consumers in China.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 07 Mar 2014 16:13
Last Modified: 20 Oct 2016 02:26

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