Predicting consumers’ apartment purchase intention in Vietnam using an extended theory of planned behavior

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Finding the factors associated with the intention to buy apartments is essential for real estate enterprises. This study applies an extended theory of planned behavior (TPB) to explore Vietnamese consumers’ intentions to purchase flats. Besides the structure of the TPB, other determinants relevant to the research context were identified by reviewing the literature. The convenience sampling technique was used to collect 512 responses using the questionnaire. The covariance-based structural equation modeling was applied to test the measurement and structural models. The results revealed that perceived behavioral control was the most critical determinant of purchase intention, followed by financial factors, attitude toward a behavior, apartment features, and subjective norms. In addition, project facilities, perceived risk, financial factors, and apartment features indirectly affect purchase intention through attitude toward a behavior. Meanwhile, the relationship between project facilities and perceived risk with purchase intention is not statistically significant. Thus, attitude toward a behavior is essential in enhancing the consumers’ apartment purchase intention at this stage. The study implements a suitable model to analyze the intention to purchase apartments in a developing country by extending TPB.

Acknowledgment
This study was carried out within the framework of the doctoral thesis subject to Decision No. 4287/QD-ĐHDT dated 30/10/2020 of Duy Tan University, Vietnam. The authors would like to thank the reviewers and the editor-in-chief for helping to prepare this study.

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    • Figure 1. Theoretical framework
    • Figure 2. Standardized SEM model
    • Table 1. Demographic characteristics of participants
    • Table 2. EFA and CFA index
    • Table 3. Correlation between the constructs
    • Table 4. Fit indices for measurement and structural models
    • Table 5. Path analysis of SEM model
    • Table 6. Standardized indirect effects: Two-tailed significance (BC)
    • Table 7. Standardized direct effects: Two-tailed significance (BC)
    • Table A1. Measuring scales and references for the proposed constructs
    • Conceptualization
      Han Pham Dinh, Hai Phan Thanh
    • Data curation
      Han Pham Dinh, Hai Vo Thanh, Hai Phan Thanh
    • Formal Analysis
      Han Pham Dinh, Hai Vo Thanh, Hai Phan Thanh
    • Funding acquisition
      Han Pham Dinh
    • Investigation
      Han Pham Dinh
    • Methodology
      Han Pham Dinh, Hai Vo Thanh, Hai Phan Thanh
    • Project administration
      Han Pham Dinh, Hai Phan Thanh
    • Resources
      Han Pham Dinh, Hai Phan Thanh
    • Supervision
      Han Pham Dinh, Hai Vo Thanh, Hai Phan Thanh
    • Validation
      Han Pham Dinh, Hai Vo Thanh
    • Visualization
      Han Pham Dinh, Hai Vo Thanh, Hai Phan Thanh
    • Writing – original draft
      Han Pham Dinh, Hai Vo Thanh, Hai Phan Thanh
    • Writing – review & editing
      Hai Vo Thanh, Hai Phan Thanh
    • Software
      Hai Phan Thanh