The article, “Real estate investing: how does supply and demand affecting the housing market,”

(2020) created by Mary Hall stated that, “Supply and demand is never an easy thing to measure
in the real estate market. It takes a lot of work time frame to construct a new accommodation and
restoring the old ones for replacing it to market. In related to real estate it is not liking just other
industries because it consumes time even year to afford, sell a home, and other properties besides
of that affording an accommodation have components for the buyer to deal that influence
housing demand include lower interest rate or borrowing costs, not only in demand, but also in
supply. The bottom line is the housing industry and its economic factors depend on supply and
demand because it is a transactional market that uses buildings and properties. Change and
delays of raw materials the time frame becomes a real concern to finish accommodation. Jean
Folger (2020) a financial writer covering real estate investing.

“Some of the buyer facing common problem in purchasing a property,” wrote by Katie Avi-
Riordan (2018) some of the study also proves that most house hunters experience, problems
when buying a property, and it’s rarely smooth sailing, According to new research by which?
Mortgage Advisers (2019)

The survey focused on the experiences of those who had purchased a property in the previous
two years, according to which? The article, Research Gate: Public housing evaluation in
Venezuela: A case study (2018) focus on evaluating the residential environment is justified, and
also in housing solution planed for low incomes some Academic research in this field is
generally focused on quite specific areas.(2020) he studied Buyer Behavior, Search Patterns,
Purchaser Characteristics, Residential property. Based in the article, Encyclopedia Britannica:
Low-income Housing (2014) has written by Brian Burch, stated, “Low-income housing also
known as affordable housing. To individual or Families with low-income earnest. The article,
Inquire.net: marketing real estate for young: wrote by Erica Sotto-Davis (2017) stated that
because of purchasing power of millennials aged 20 to 35 years old the strategies of selling and
buying condo has been change in the past few year the outcome of that impact is the reason why
real estate market have become the rising industry and favored of this influential demographic.

The infrastructure growth and emerging cities outside metro manila has been a rapid
development to emerge cities, "Infrastructure is also a top priority of the current administration,
as clearly outlined in the “Build, Build, Build” agenda and as supported by aggressive
government spending” Dr. Fermin G. Castillo, Jr. (2018) a professor in University of Fujairah,
United Arab-Emirates study the Consumer Buying Behavior: The multicultural Influences in the
Philippines gave views about the consumer buying behavior of customer, the market have found
some innovative and creative solution by dealing to the target market. Knowing the need and
wants of buyer is always been the step one of the processes that lead in buying decision. The
research gives some insight on consumer buying behavior to the Filipino style that have been
influences by colonial and foreign consumerism. Some keywords of this review are the Filipino
habit, Consumer behavior, Cultural Difference.

Lee & Ong (2020). Factors affecting Consumers’ Choice in Residential Properties and the Future
of the Real Estate Business in the Philippines. International Journal of Accounting, Finance and
Business (IJAFB), 5(26), 60 - 69. the studies about the customer oriented and concerns of
consumers' in decision-making process. the study was also based on theory of reasoned action
and Theory of planned behavior.

The keywords of these studies are the consumer behavior, Philippines, Real estate, Residential
property. We Should understand the and recognize the component that affecting decision. That
we should have some changes adapt more strategic action, competitive advantage and
promotional campaigns that lead to increases in the profitability.

Personal Factors Earnings, age of homeowner, number of family members, and socio-economic
status were stated as important features in the choice between rental and owner-occupied
residential property in the earlier research (Yi & Lee, 2014; Cho, 1992; Eliasson, 2010; Kim &
Lee, 2004; Lee, 2007). Other study also showed that work, salary, and views of wealth are
reflected to be the most influential drivers of consumer behavior and spending (Callahan, 2014).
In addition, the affordability of units, according to which residential property prices should not
go beyond the level of 30% household’s disposable income (Grum & Grum, 2014).Furthermore,
housing costs become an enormous problem mainly for low and middle income households and
inequality in housing is severe (Zhang & Ball, 2016).

Psychological Factors An individual’s buying decisions are more influenced by the following
psychological factors particularly perceptions, motivation, learning, and beliefs and attitudes.
Consumers procure a residential property with the intention to fulfill their self-esteem and self-
actualization needs (Nunarong & Punnakitikashem, 2018).

Cultural Factors Culture is prevalent, encompassing all the things consumers do without
conscious choice. Consumer behavior is extremely affected by cultural factors, such as buyer’s
culture, subculture and social class. Shavitt and Cho (2016) stated that consumer behavior
includes a wide scope of occurrences, and cultural factors have been revealed to impact many of
them, culture forms what common objectives consumers have (Yang, Stamatogiannakis &
Chattopadhyay, 2015), and how they react to prices (Bolton, Keh & Alba, 2010), advertising
components (Kwon, Saluja & Adaval, 2015), and brand images (Torelli, Özsomer, Carvalho,
Keh & Maehle, 2012).

Consumers’ Choice Factors Study identified 5 factors that affect the purchase intention of
residential property buyers in the Philippines such as price, location, safety and security,
facilities and amenities, and exclusivity. Other research presented factors such as location and
design; price; type of neighborhood; view and ventilation; facilities and amenities; prestige,
luxury and style; and Feng Shui (Salleh, Zoher, Mahayuddin, & Abdul, 2017).

Social component that affect the consumer buying decision, social factors that include is family,
reference group, social class, life cycle, opinion leaders, subculture and culture. Residential
property is not only an indicator of one’s quality of life (Wang, Yang, Jin, & Zhang, 2016;
Akihiro & Iwai, 1976). However, it also implies social class for the country's city residents.
(Wang, Yang, Jin, & Zhang, 2016; Veronica Cacdac & Francis E, 2008).