Buying Decision Strategies on Residential Condominium in Taguig City

Abstract

The descriptive survey method was used in this study. The researcher gathered the data using survey questionnaires strategically distributed through the help of respective property management offices of six residential condominiums in Acacia Estates in Taguig City. There were 250 respondents. The gathered data was tested at a 0.05 level of significance. Frequency, percent distribution, weighted mean, one-way analysis of variance, and ranking were used as statistical tools. Results of the study implied that residents of condominium in Taguig City mostly aged 30 –39 years old, male, married with growing families. A quarter of the residents were single implying they are career-driven individuals or soon-to-be married couples investing on the future. Results showed that males were the ones who decide to buy the residential condominium which is natural because males are often regarded as "providers." Residents were mainly post-graduate degree holders earning 60,000 –90,000 monthly and belonged to the middle income class. Most of them owned 1 two-bedroom residential condominium unit for 3 to 4 years living with 3 to 4 household members and worked in Taguig City. The study suggested that respondents agreed on the effectiveness of their buying strategy on residential condominium in Taguig City in terms of product, price, place and promotion; consequently, place ranked highest followed by promotion then product while price was regarded as the least. There were significant differences in the respondents' assessment of the effectiveness of their buying decision strategies on residential condominiums, in terms of product, price, place, and promotion, when grouped according to age, workplace location, and location of childrens' schools. The researcher recommends that developers should consider their client's profile to ensure that their client's needs are met. Knowing the profile of the respondents can also help developers to match their product offerings as well as their pricing strategies to fit the market. Developers should consider allowing multiple parking slot purchase given that there is ample inventory of parking slots. They should consider offering discounts, as well as different financing and payment options, in order for residential condominium units to be more affordable. These factors should be properly communicated to the client prior to the purchase of the unit.

All fees that clients pay once they own the unit should also be communicated prior to closing the sale of residential condominium units, in order to manage the expectations of future owners. Developers should provide free shuttle services for residential condominiums not readily accessible by main public transportation means. Developers should build their reputation and their client's trust by providing and maintaining quality and on-time developments. Developers should be properly conveying their market offerings through the use of advertisements such as flyers and billboards. Additional business centres outside Metro Manila should be established to push developments in neighbouring provinces. It is possible that residential condominium developments will be encouraged in areas with employment and educational opportunities. In effect, our country as a whole may benefit from this. Further studies aiming on individuals not only owners or residents of residential condominiums but also potential clients who aim to buy residential condominiums not only in Taguig City but also in other parts of Metro Manila to further determine and compare buying decision strategies should be conducted In addition, further studies are recommended focusing on the various fees to be paid by residential condominium owners and potential buyers, and on residential condominiums focusing on socialised housing.