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485. Decision-Making Models of House Purchase Among Different Age Groups
Invited abstract in session TC-47: MCDA and urban planning 2, stream Multiple Criteria Decision Analysis.
Tuesday, 12:30-14:00Room: 50 (building: 324)
Authors (first author is the speaker)
| 1. | Chia-Wen Liao
|
| Department of Civil Engineering and Hazard Mitigation, China University of Technology | |
| 2. | Min-Jun Wu
|
| Department of Civil Engineering and Hazard Mitigation, China University of Technology |
Abstract
The rapid rise in real estate prices around the world has attracted widespread attention. The reasons for the rise in real estate prices include insufficient land supply, population growth, economic development, investment demand, and other factors. Several surveys show that average house prices are rising faster than average wages, causing many families to face difficulties in house purchases.
In Taiwan, people generally feel the pressure of house purchases. High housing prices relative to average wages require residents to face longer repayment periods and higher loan interest rates during the process, exacerbating the difficulty of house purchase. In addition, unequal development among regions has also led to great different considerations for house environment in different regions. House purchase decisions of different age groups are affected by many variables. The number of years and amount of the loan directly affect the repayment pressure and quality of life, while the average transaction price per square meter of houses is an important factor affecting the choice of living area.
This paper takes Taiwan as an example. We focus on different districts in Taipei City of Taiwan. The views and difficulties faced by people on house purchase are discussed. Based on survey data, including housing prices and average salaries, the different decision-making models between old, middle-aged, and young generations of dual-income couples in house purchase are presented.
Keywords
- Analytics and Data Science
Status: accepted
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