A Study on Real Estate Purchase Decisions

ABSTRACT

This study examines the influence of joint information framing and personality traits on housing purchase decisions, specifically in the context of the COVID-19 pandemic. Using a between-subjects experimental design, we found that negative framing has a stronger impact on purchase decisions for optimistic participants compared with pessimistic ones. Additionally, high-price anchoring has a greater negative effect on purchase intention for pessimists, while low-price anchoring has a stronger positive effect for optimists. Furthermore, our findings suggest that the low-price real estate market has been less severely impacted by the pandemic than the high-price market. The real estate market seeks to minimize information asymmetry to achieve sustainable and healthy development. These results contribute to creating inclusive, safe, and sustainable cities.