Abstract:
This study examines the sustainable housing sector of Pakistan by describing the sustainable housing buyers’ profile and quantifying willingness to pay for sustainable housing uptake in the market. Willingness to pay (WTP) for sustainable housing is estimated through a survey of 354 perspective homebuyers. Hierarchical Bayesian model of adapted choice-based conjoint analysis is utilized to study the correlation of descriptive determinants on WTP for sustainable housing. The results suggest that demographical factors of age, gender and education level positively correlate with WTP whereas environmental knowledge and income level negatively correlate with WTP. The study contributes a vital empirical input to the literature by finding the potential sustainable homebuyers in Pakistan.
