Factors influencing demand for condominium in Johor Bahru, Malaysia

Abstract

In recent years, condominium living has gained popularity among Malaysians. Many Malaysians have invested in this development because of its product attributes. It has become the mode of living for the country's middle and upper class families. Condominium developments have mushroomed in all parts of cities in Malaysia particularly in Kuala Lumpur, Penang and Johor Bahru. The residents can enjoy the convenience of having the facilities at their doorsteps, the abundance of greenery and open space. Demand for condominiums in Johor Bahru is not certain and so this is a main problem to the developers. The developers are in doubt about which factor and how much weight should be considered to come up with a condominium project. What are the real factors that influence the demand or what are the real factors that attract people to buy the condominium? Based on theories and literature review, several factors have been identified which make up the demand factors and condominium. Among the factors are location, price, surrounding development, sceenery, available loan and others. Once these factors are known, it is easier for the developers to consider these factors before they proceed with the condominium development effectively and efficiently.