Effects of Behavioural Factors on Real Estate Among Women in Nairobi County, Kenya

Abstract

Behavioral factors have been found to influence investment decisions. The number of women in real estate has been on the rise globally. Kenya has also experienced the same trend with women becoming real estate developers in the recent past. The main4objective of4the study4was to examine the4effect of4behavioral factors on real4estate investment4among women in Nairobi4County. The study4was based on heuristic, prospect, herding and rational factors as the behavioral factors influencing investment in real estate by women. The study was4based on heuristic, prospect, herding and theory of planned behavior. In this study descriptive4research design was4adopted. In this4sstudy target population4was 350 women investors4in Nairobi County according to women in real estate. Yamane formula was used to select 187 women investors in Nairobi County. Snowball and simple4random sampling4was used4to select4the women investors in Nairobi County. The researcher used WIRE (Women in Real Estate) organization to connect the researcher to the women investors. From there the4researcher then4used simple4random sampling4to decide the women4to whom the questionnaires were administered to. The study adopted primary data. Primary4data was4collected using4a structured4questionnaire. Consent was sought from4the women before they were involved in the study. The researcher used interview method in administering the questionnaires. Prior to actual study, the questionnaire was pretested amongst 18 real estate women investors in Nairobi County. Data4collected through administration4of questionnaires was4analyzed using4SPSS to generate4descriptive4and inferential4statistics. Composite values were calculated for each of4the4independent variables4based on the statements relating to4each of4the variables. The composite values were used in4the regression4analysis. The4study4found4that4heuristic, prospect, herding and rational factors had a positive4effect on women’s investment in real estate sector. The study4concludes that4behavioral factors significantly influence4real4estate investment amongst women investors in Nairobi4County. The study4recommends that4women in real estate business should consider behavioral factors for more informed investment4decisions.