The Impact of Residential Factors on Residential Satisfaction and Repurchase Intention in Jeju Island Apartments: Focusing on the Moderating Effect of Real Estate Investment Sentiment

The purpose of this study is to verify the moderating effect of real estate psychology on the impact of apartment housing factors on residential satisfaction and repurchase intention among residents of apartments in the Jeju region. To this end, a survey was conducted on 437 residents of apartments in Jeju, and the causal relationships were analyzed. The research results are as follows: First, among the apartment housing factors, locational factors negatively (-) influenced apartment preference, locational and maintenance satisfaction, and repurchase intention. Physical and economic factors negatively (-) influenced apartment preference and locational and maintenance satisfaction. In contrast, social relational factors positively influenced apartment preference, locational and maintenance satisfaction, and repurchase intention. Second, it was found that socioeconomic investment psychology and personal psychological factors played a moderating role in the impact of housing factors on residential satisfaction and repurchase intention. The implications of the research results are as follows: First, previous studies have shown that housing factors or apartment purchase decision factors positively influence residential satisfaction and repurchase intention. However, in this study, except for social relational factors, locational factors and physical and economic factors were found to have negative (-) influences. This difference is thought to arise because most previous studies targeted inland apartments rather than those on islands like Jeju. Additionally, the dissatisfaction with housing factors in Jeju appears to stem from the limited area available for apartment construction, suggesting a need to stabilize apartment prices to overcome this issue. Second, the significance of this study lies in analyzing the moderating effect of investment psychology, which has been scarcely examined in previous research, indicating that socioeconomic investment psychology and personal psychological factors should be considered when constructing apartments.