Evaluating Consumer’s Behaviour Towards Investing in Sustainable Luxury Real Estate

Abstract

This study aimed to explore consumer's investment intentions toward sustainable luxury real estate by examining the impact of their environmental concerns, attitude, subjective norms, perceived behaviour control, and perception of buying/investing in sustainable luxury real estate. The study also looked at how customer gender and age affected the difference between purchase intentions for luxury real estate that is sustainable and luxury real estate that is not sustainable. This study employs a conceptual framework that expands the Theory of Planned Behavior by adding a new dimension (environmental concern), which previous research has shown to be extremely important in influencing customer purchase intentions for sustainable goods. 282 respondents were surveyed online and provided with a questionnaire, which was utilized to gather data. People in the age range of 18 to 40 who live in various parts of the world were the survey's target respondents since environmental concerns are not exclusive to any one nation or geographic area. The Microsoft Excel Spreadsheet was used to code and enter the data, and IBM SPSS version 26 was used for the analysis. The results of the overall modelling testing show a high influence of environmental concern, subjective norm, attitude and consumer perception on consumers’ purchase intention for environmentally sustainable luxury real estate. A considerable disparity between women and men customers as well as between various age groups was found in the research on gender variations in consumer's perceptions of sustainable luxury real estate.