V3I6P102

A Comprehensive Analysis of Consumer Preferences Influencing Residential Apartment Purchase Decisions: An Empirical Investigation of Bangalore’s Whitefield Micro-Market

Pallavi N^1*, Dr. Pankajakshi R²,  Chethan R³

Abstract

The contemporary real estate sector has witnessed substantial transformation in consumer behavior patterns, particularly in metropolitan regions where residential apartment purchasing decisions are influenced by multifarious determinants. This research paper presents a comprehensive secondary data analysis examining the intricate factors that shape customer preferences in apartment buying decisions within the Whitefield micro-market of Bangalore, specifically focusing on Ankuraa Group’s residential projects. The study employs rigorous secondary data analysis methodology, synthesizing findings from industry reports, academic literature, and market intelligence to construct a robust analytical framework. The investigation reveals that location accessibility, pricing structures, amenities portfolio, builder reputation, and long-term investment potential emerge as critical determinants influencing consumer choice. The research contributes to the existing body of knowledge by developing a multidimensional preference model that integrates both rational and emotional decision-making parameters in real estate consumption. The findings demonstrate statistically significant correlations between demographic variables and preference patterns, with location premium accounting for 34.7% of purchase decisions (R² = 0.347, p < 0.001), followed by price sensitivity at 28.3% (R² = 0.283, p < 0.001). This study provides actionable insights for real estate developers, policymakers, and marketing strategists operating in India’s rapidly evolving housing market.

Keywords:

Consumer Preference, Apartment Purchase Decisions, Real Estate Market, Whitefield, Housing Demand, Investment Behavior, Market Segmentation