TITLE:
Decision-Making During the Process of Buying a House in Mongolia
AUTHORS:
Nergui Ariunjargal, Gonchigjav Boldbaatar, Myagmarsuren Odonchimeg, Erdenebileg Odgerel
KEYWORDS:
VALS Model, Real State, Consumer Behavior, Decision Making, Mongolia
JOURNAL NAME:
Open Journal of Business and Management,
Vol.13 No.4,
July
11,
2025
ABSTRACT: In Mongolia, the real estate market has grown quickly over the past five years, which has caused more people to buy flats. Investing in an apartment is one of the biggest and most important things a person can do for the long run. To understand how someone decides to buy an apartment, it’s important to look at the things that affect buyer habits and purchases. Using the VALS model to figure out how someone is feeling has a direct effect on how they buy things. Most of the people who answered said that safety and clean air are the most important things to look for in a home. However, when it comes to other factors, price is more important for buyers who are successful and sure of themselves, while infrastructure, outdoor surroundings, greenery, and accessibility are more important for buyers who have bought homes before.