Consumer behavior in the property market: Relevant attributes for purchase of flat in the city of Rio de Janeiro

Abstract

The Brazilian property market, especially in the city of Rio de Janeiro, after a long time, heat up again. The increase of income of the population, coupled with easy credit and high expectations, with the arrival of mega-events like the FIFA 2014 World Cup and the 2016 Olympics, are considered the main causes of overvaluation of properties. Given this scenario, this study was to investigate the main attributes that the consumer considers a higher priority to buy its apartment in Rio de Janeiro city. Through in-depth research, qualitative study identified that the consumer goes through conflicting situations of choice, when, for example, it gives up the location attribute for an internal space according to its preferences, since the price does not allows obtaining both. On top of that, it is concluded that at the time, consumers will not find their dream house, but one that just will fulfill their needs.

Keywords

• Consumer behavior
• Property market
• Attributes of Consumption
• City of Rio de Janeiro