Conceptualising luxury residential property for marketing

Today, the luxury residential property segment in Malaysia has experienced product development in an exponential rate, causing the segment to encompass more than just exclusivity, fancy address and facilities. For purchasers, the luxury concept has moved beyond the physical product. As such, it is...

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Main Authors:	Amy Chuon, Hasniyati Hamzah, Abdul Ghani Sarip
Format:	Article
Language:	English
Published:	Penerbit Universiti Kebangsaan Malaysia 2017
Online Access:	http://journalarticle.ukm.my/11894/ http://journalarticle.ukm.my/11894/ http://journalarticle.ukm.my/11894/1/17856-51666-1-PB.pdf

id	ukm-11894
recordtype	eprints
spelling	ukm-118942018-07-13T04:57:43Z http://journalarticle.ukm.my/11894/ Conceptualising luxury residential property for marketing Amy Chuon, Hasniyati Hamzah, Abdul Ghani Sarip, Today, the luxury residential property segment in Malaysia has experienced product development in an exponential rate, causing the segment to encompass more than just exclusivity, fancy address and facilities. For purchasers, the luxury concept has moved beyond the physical product. As such, it is important for marketers to understand how luxury is perceived from a larger perspective so that they can gauge, shape and fulfil potential purchasers’ expectations. In the current soft market for luxury apartments, such understanding is crucial to the business sustainability of developers. This paper attempts to conceptualise luxury residential property based on an extensive review of the relevant literature. Ultimately, the findings of this paper will contribute towards an effective marketing strategy to boost the sale of luxury high-rise residential properties which are currently experiencing a soft market. The 4P’s of marketing underpinned the formulation of the concept of luxury residential spaces in this paper. Information is gleaned from texts, articles, journals, books and seminar papers from various perspectives including real estate, marketing, economics and sociology mainly from international authors. As such, the scope of this paper is much wider than simply capturing the nuances of local culture in shaping the notion of luxury residences, but rather take a global and academic view of the conceptualisation of luxury residential property. The framework of luxury residential property as presented in this paper will give practitioners and researchers an informed insight into the evolution, normalisation and development of the concepts of luxury and luxury residence with potential applications for benchmarking and research. Although far from definitive, sufficient theories, definitions and discourse from the body of knowledge on luxury real estate have been covered and thus provide a valuable reference. Penerbit Universiti Kebangsaan Malaysia 2017 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/11894/1/17856-51666-1-PB.pdf Amy Chuon, and Hasniyati Hamzah, and Abdul Ghani Sarip, (2017) Conceptualising luxury residential property for marketing. Geografia : Malaysian Journal of Society and Space, 13 (2). pp. 33-43. ISSN 2180-2491 http://ejournal.ukm.my/gmjss/issue/view/923
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Kebangasaan Malaysia
building	UKM Institutional Repository
collection	Online Access
language	English
description	Today, the luxury residential property segment in Malaysia has experienced product development in an exponential rate, causing the segment to encompass more than just exclusivity, fancy address and facilities. For purchasers, the luxury concept has moved beyond the physical product. As such, it is important for marketers to understand how luxury is perceived from a larger perspective so that they can gauge, shape and fulfil potential purchasers’ expectations. In the current soft market for luxury apartments, such understanding is crucial to the business sustainability of developers. This paper attempts to conceptualise luxury residential property based on an extensive review of the relevant literature. Ultimately, the findings of this paper will contribute towards an effective marketing strategy to boost the sale of luxury high-rise residential properties which are currently experiencing a soft market. The 4P’s of marketing underpinned the formulation of the concept of luxury residential spaces in this paper. Information is gleaned from texts, articles, journals, books and seminar papers from various perspectives including real estate, marketing, economics and sociology mainly from international authors. As such, the scope of this paper is much wider than simply capturing the nuances of local culture in shaping the notion of luxury residences, but rather take a global and academic view of the conceptualisation of luxury residential property. The framework of luxury residential property as presented in this paper will give practitioners and researchers an informed insight into the evolution, normalisation and development of the concepts of luxury and luxury residence with potential applications for benchmarking and research. Although far from definitive, sufficient theories, definitions and discourse from the body of knowledge on luxury real estate have been covered and thus provide a valuable reference.
format	Article
author	Amy Chuon, Hasniyati Hamzah, Abdul Ghani Sarip,
spellingShingle	Amy Chuon, Hasniyati Hamzah, Abdul Ghani Sarip, Conceptualising luxury residential property for marketing
author_facet	Amy Chuon, Hasniyati Hamzah, Abdul Ghani Sarip,
author_sort	Amy Chuon,
title	Conceptualising luxury residential property for marketing
title_short	Conceptualising luxury residential property for marketing
title_full	Conceptualising luxury residential property for marketing
title_fullStr	Conceptualising luxury residential property for marketing
title_full_unstemmed	Conceptualising luxury residential property for marketing
title_sort	conceptualising luxury residential property for marketing
publisher	Penerbit Universiti Kebangsaan Malaysia
publishDate	2017
url	http://journalarticle.ukm.my/11894/ http://journalarticle.ukm.my/11894/ http://journalarticle.ukm.my/11894/1/17856-51666-1-PB.pdf
first_indexed	2023-09-18T20:01:23Z
last_indexed	2023-09-18T20:01:23Z
_version_	1777406871812964352

Conceptualising luxury residential property for marketing

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