Key Success Factors of Medium-Sized Residential Real Estate Developer in Suburban Areas

Abstract

Currently, real estate business is very high-value and highly competitive. It involves many related businesses such as real estate developers, contractors, creditors, financial institutions, investors and customers. Furthermore, there are also trends of higher competition in suburban areas, depending on the distribution and level of development as well as lifestyle of people. This study focuses on the factors affecting successes of the project such as process, quality, cost and location. The CIPP model and literature reviews were used to determine the factors. For analysis, the analytical hierarchy process (AHP) is used to analyze and compare the important factors affecting the success of medium-sized residential projects in suburban areas. From the study, it is found that the most important factor affecting the success of medium-sized residential projects in suburban areas is financial factors, the most important sub-factors affecting the project were the location and suitable environment. The results of this study can be used to develop project’s action plans so that real estate developers can achieve its business objectives of projects.