Perceived risk, anticipated regret and post-purchase experience in the real estate market: The case of China

Jiangtao Chen, Chi Man Hui, Zhongming Wang

Research output: Journal article publicationJournal articleAcademic researchpeer-review

10 Citations (Scopus)

Abstract

The level of customer satisfaction with real estate is revealed to be low in many countries, and home buyers are even more likely to suffer negative experiences, such as perceived risk and regret, due to the current worldwide depression of property markets. Unlike most previous studies about housing satisfaction which focused on the effect of object housing and neighbourhood attributes, this paper aims to gain more insight into housing experiences from customers' perspectives, exploring the determinants of anticipated regret and its effect on post-purchase experience. In the case of the property market in China, it was found that perceptions of risk, importance, irreversibility and difficulty in home buying evoked anticipated regret, which in turn aggravated experienced regret and dissatisfaction directly or via upward counterfactual thinking. Moreover, the dimensional structure, antecedents and cross-cultural differences of perceived risk among home buyers were studied.
Original languageEnglish
Pages (from-to)385-402
Number of pages18
JournalHousing Studies
Volume26
Issue number3
DOIs
Publication statusPublished - 1 Apr 2011

Keywords

  • Housing choice
  • Housing market
  • Perceived risk
  • Regret
  • Resident involvement
  • Satisfaction

ASJC Scopus subject areas

  • Environmental Science (miscellaneous)
  • Sociology and Political Science
  • Urban Studies

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