Technology for Identifying Determinants of Condominiums Responsible Property Investing in Thailand

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Than Dendoung
Kongkoon Tochaiwat
Damrongsak Rinchumphu
Jolyon L.A. Dodgson

Abstract

This article examines responsible property investment (RPI) determinants of condominiums in The Bangkok Metropolitan Region (BMR), Thailand. The researchers argue that sustainability is proven to hold benefits to investors, developers, and tenants. The development of RPI could strengthen their avoidance of irresponsible development, which results in asset values appreciation for those properties with better sustainability. The methodology used in this research is explanatory factor analysis (EFA) to classify the relationship between the potential dimensions of RPI. The study collected 167 cases from the owners’ resale of units between 2018-2019 and from 22 buildings. The results show 14-factor groups that represent the RPI dimensions of condominium buildings. The first 18% of the component represents the unit measurement, value-added, and intangible quality of the unit. Then, 35% of the factors serve financing expenses on the project, such as marketing costs and features and characteristics of the building. The last 47% of the factors represent the location and environmental responsibility. This study demonstrates that RPI can lead developers to be more responsible for their investment as well as performing strategy marketing and financing benefit. RPI standards help customers aware of the product choices of purchases that are responsible for the environment and society. The additional benefit of RPI is that it updates the green building assessment tool to be more favorable for the investment strategy. The result will also be the foundation of RPI research in Thailand. In the end, RPI can establish a common ground objective to develop and implement a long-term sustainable strategy from investment, development, management, and corporate activities with other organizations.

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Dendoung, T., Tochaiwat, K., Rinchumphu, D., & Dodgson, J. L. (2020). Technology for Identifying Determinants of Condominiums Responsible Property Investing in Thailand. International Journal of Building, Urban, Interior and Landscape Technology (BUILT), 15, 45–64. https://doi.org/10.14456/built.2020.4
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