Did I Make The Right Decision? Attributes That Influence People'S Choice Of City Of Residence

Abstract

This paper aims to measure personal preferences regarding various attributes that affect choice of city of residence in the long term. A conjoint questionnaire was formulated in order to measure consumer perception of the importance of various attributes, such as quality of education, distance from work, average property price, and distance from family. Each attribute is composed of two categorical levels: high and low. The findings reveal which of the attributes is the most effective based on the decision-making process and shed light on which combination of attributes is most preferred by respondents. The paper addresses a new view of personal definition to buy or rent real estate when selection of the “proper“ real estate relative to one's profile is taken into account. This view is of value to a variety of real estate professionals engaged in suggesting and evaluating value to consumers.