The impact of factors influencing apartment purchase decisions on residential satisfaction and repurchase intentions: Focusing on the mediating effect of perceived value of Jeju residents

This study aims to analyze the mediating effect of buyer's perceived value on the impact of apartment purchase decision factors on residential satisfaction and repurchase intention among residents of apartments in Jeju Island. To achieve this, a survey was conducted on 437 residents of apartments in Jeju Island, and the results were analyzed. The research findings revealed that among the factors influencing apartment purchase decisions, locational factors negatively influence repurchase intentions, economic factors negatively influence purchase satisfaction, while physical and social factors positively influence residential satisfaction. Additionally, economic and social factors among the purchase decision factors positively influence functional value, and social factors positively influence social value. Furthermore, functional value positively influences purchase satisfaction, social factors positively influence both purchase satisfaction and repurchase intention. Both functional value and social value play a partial mediating role in the relationship between apartment purchase decision factors and residential satisfaction. These research results suggest several implications. When purchasing an apartment, it is necessary to conduct a precise analysis of locational factors and surrounding market prices. From the seller's perspective, active promotion of various amenities, safety, convenience, and accessibility is essential. Moreover, promoting the superiority of functional and social values of apartments compared to the purchase cost is crucial. To enhance apartment purchase and repurchase intentions from consumers, ensuring the adequacy of quality and price, as well as enhancing satisfaction through factors such as social status improvement resulting from apartment purchase, are necessary.