One of the main stages for achieving success is the adoption of new technology by its users. Several studies show that Property technology is advantageous for real estate stakeholders. Hence, the purpose of this paper is to investigate the users' engagement behavior to adopt Property technology in the Vietnamese real estate market.
To that end, a purposive sample of 142 participants was recruited to complete an online quantitative approach based survey. The survey consisted of a modified and previously validated measure of acceptance based on the extended demographic version of the unified theory of acceptance and use of technology), as well as usage scale items. The empirical findings confirm that participants were generally accepting of Property technology in the Vietnamese real estate market. The highest mean values were associated with the subscales of effort expectancy and performance expectancy, while we can easily identify the lowest mean value in the social influence subscale. The usage of Property technology was slightly more concerned with the gathering of information on properties and markets than transactions or portfolio management.
This study provides an in depth understanding of Property technology for firms' managers and marketers. Online social interactions might be either harmful or fruitful for firms depending on the type of interaction and engagement behavior. This is especially true of property portals and social media forums that would help investors to connect, communicate and learn. Findings can help users to improve their strategies for digital marketing. By providing robust findings by addressing issues like omitted variables and endogeneity, the findings of this study are promising for developing new hypotheses and theoretical models in the context of the Vietnamese real estate market.
Table of Contents
Chapter I: INTRODUCTION
1.1. Background of the study
1.2. Rationale
1.3. Definition of Concepts
1.4. Hypotheses
1.5. Statement of the problem
1.6. Research objectives and questions:
1.7. Research Methods and Analyses
1.8. Scope and Limitations of the Study
a. Scope
b. Limitation
1.9. Significance of the Study
Chapter Synthesis
Chapter II: REVIEW OF RELATED LITERATURE
2.1. Global real estate market
2.2. Today’s Property Technologies applied in the property market
2.3. Real estate stakeholders and their needs
2.4. Property technologies and their utilization in Real estate
2.5. Unified Theory of Acceptance and Use of Technology – UTAUT
Chapter Synthesis
Chapter III: THEORETICAL BACKGROUND
3.1. Theoretical Framework
3.2. Definition of Terms
3.2.1. Performance Expectancy
3.2.2. Effort Expectancy
3.2.3. Social Influence
3.2.4. Facilitating Condition
Chapter Synthesis
Chapter IV: METHODS AND PROCEDURES
4.1. Research Design
4.1.1. Methodological Approach
4.1.2. Quantitative Research Design
4.2. Data Gathering Procedure
4.3. Data Analysis Guide
4.3.1. Quantitative instrument
4.3.2. Data analysis method and software:
4.3.3. Hypotheses Testing
Chapter Synthesis
Chapter V: DATA PRESETATION
5.1. Sample Demographics and Data Screening
5.2. Measurement Development
5.3. Structural Model Testing
Chapter Synthesis
Chapter VI: FINDINGS AND IMPLICATIONS
6.1. Specific Findings
6.2. Hypothesis Results
6.3. Research Objectives (Answers)
6.3.1. Research Question 1 (Acceptance)
6.3.2. Research Question 2 (Usage)
6.4. General Findings
Chapter Synthesis
Chapter VII: RECOMMENDATIONS
7.1. Addressed to Academia
7.2. Addressed to Companies, Businesses in real estate industry
7.3. Addressed to Regulatory authorities and policymakers
Chapter Synthesis
Chapter VIII: SUMMARY AND CONCLUSION
8.1. Summary of the Report
8.2. Overall contributions
8.3. Limitation
8.4. Future direction
Chapter Synthesis
Research Objectives and Key Themes
The primary objective of this doctoral thesis is to investigate and evaluate the behavioral intentions of participants within the Vietnamese real estate market regarding the adoption of Property Technology (Proptech) services, utilizing the Unified Theory of Acceptance and Use of Technology (UTAUT) model to explain users' perceptions and engagement.
- Analysis of user acceptance and engagement behaviors concerning Proptech in Vietnam.
- Application and validation of the UTAUT framework within a developing nation's real estate context.
- Evaluation of Proptech utilization for property research, acquisition, and portfolio management.
- Identification of barriers and opportunities for digital transformation in the Vietnamese real estate industry.
- Formulation of recommendations for stakeholders, including managers, policymakers, and academics.
Excerpt from the Book
1.1. Background of the study
Vietnam has recently witnessed an incredible growth on numerous industries comparing to other Southeast Asian economies and particularly construction and real estate are among the most potential sectors to rise. And, it is also expected to be in continuous growth in the years to come. The optimistic anticipation is mostly due to the country’s sustained fast urbanization coming along with robust economic growth and the implementation of multiple mega-projects in key cities such as Hanoi and Ho Chi Minh City.
One of the most rapid urbanization speed over the globe currently taking place may be seen in Vietnam. Over the past thirty years, the city's population has increased by a factor of two. Since 2010, it has been rising at roughly 3% per year, placing Vietnam's urbanization rate above the yearly average for Southeast Asian countries (2.5%), and extremely similar to the rate China experiences (3.1%) (source: World Bank)
The demand for residential products has increased as a result of the widespread growth of cities, which has encouraged an increase in the number of people moving from smaller towns to larger cities. The population of Vietnam was estimated to reach 120 million by the year 2050, up from the current estimate of 97.33 million in 2021. Statistics provided by the World Bank indicate that Vietnam's urban population was 31.1% in the year 2011, and it is projected to reach 37.1% in the year 2021.
Summary of Chapters
Chapter I: INTRODUCTION: This chapter establishes the research context and problems, outlines the research questions and objectives, and defines the conceptual framework and overall significance of the study on Proptech adoption in Vietnam.
Chapter II: REVIEW OF RELATED LITERATURE: This chapter provides an extensive review of the existing global real estate market literature, property technologies, stakeholder needs, and the theoretical foundations laid by the Unified Theory of Acceptance and Use of Technology (UTAUT).
Chapter III: THEORETICAL BACKGROUND: This chapter develops the core theoretical framework for the study, detailing the constructs of the UTAUT model—Performance Expectancy, Effort Expectancy, Social Influence, and Facilitating Conditions—and formulating the hypotheses.
Chapter IV: METHODS AND PROCEDURES: This chapter details the quantitative research methodology, including the sampling strategy, the design of the survey instrument (adapted from validated models), and the data analysis procedures used to test the hypotheses.
Chapter V: DATA PRESETATION: This chapter focuses on the sample demographics and data collection methods, along with the results of the measurement model validation, which confirms the reliability and convergent validity of the construct measurements.
Chapter VI: FINDINGS AND IMPLICATIONS: This chapter presents the empirical results of the study, assessing the hypothesis test outcomes and discussing how these findings address the research objectives regarding Proptech acceptance and usage.
Chapter VII: RECOMMENDATIONS: This chapter offers practical and theoretical recommendations for academia, real estate businesses, and regulatory bodies to facilitate the growth and implementation of Proptech in the Vietnamese market.
Chapter VIII: SUMMARY AND CONCLUSION: This final chapter synthesizes the research findings, highlights the study's overall contributions to the field of international business, acknowledges its limitations, and suggests directions for future research.
Keywords
Proptech, Real Estate, Vietnam, UTAUT, Technology Adoption, Digitalization, Performance Expectancy, Effort Expectancy, Social Influence, Facilitating Conditions, Behavioral Intention, Market Analysis, Property Management, Real Estate Stakeholders, Quantitative Methodology.
Commonly Asked Questions
What is the core focus of this doctoral research?
This research focuses on investigating the behavioral intention of users in the Vietnamese real estate market to adopt Proptech services, filling a gap in the literature regarding technology adoption in this specific context.
What are the central themes discussed in the thesis?
The central themes include the rapid growth of the Vietnamese real estate sector, the digital transformation (Proptech) of property management and transactions, user acceptance theories, and the challenges faced by market participants.
What is the primary research objective?
The primary objective is to evaluate how real estate market participants in Vietnam perceive and utilize property technology, using the UTAUT model to identify determinants of adoption.
Which scientific method is employed throughout the study?
The study uses a quantitative approach, involving a survey of 142 participants and structural equation modeling (SEM) to evaluate the theoretical framework and test the research hypotheses.
What does the main body of the research address?
The main body reviews relevant literature on property technology and stakeholder needs, develops a theoretical framework based on UTAUT, details survey methodologies, and presents comprehensive empirical findings and implications for the industry.
How would you describe the key terms used in this work?
The work is defined by keywords such as Proptech, technology adoption, the UTAUT framework, real estate stakeholders, and behavioral intention, illustrating the intersection of digital innovation and traditional property markets.
How did the pandemic affect the findings of this research?
The pandemic acted as a catalyst for digital awareness; while the market remains traditional and "analog," the research shows that the pandemic prompted shifts in how investors value digital infrastructure and remote tools.
What is the significance of the "Big 9" technologies mentioned?
The "Big 9" represent key disruptive technologies like Big Data, AI, and IoT, which are evaluated for their potential to enhance real estate operations, transparency, and decision-making processes in Vietnam.
- Quote paper
- Le Tung Bach (Author), 2023, The Behavioral Intention to Adopt Proptech Services in Vietnam Real Estate Market. Technology Adoption, Munich, GRIN Verlag, https://www.grin.com/document/1423032
