Abstract
Purpose
Although real estate investment decisions are among the most important managerial decisions, such decisions are usually made in an ad hoc fashion in Southeast Asia. The purpose of this study is to present a two-tier multi-criteria decision-making model for real estate investment decisions across three rapidly growing but significantly understudied Southeast Asian countries: Cambodia, Myanmar and Vietnam.
Design/methodology/approach
Using three data sources (secondary data, two surveys and nearly 100 experts and senior executives), the authors applied a combination of the Analytic Hierarchy Process and the Simple Additive Weighting (or weighted sum) methods as two special cases of multi-criteria decision-making to assess nine real estate investment projects across Cambodia, Myanmar and Vietnam.
Findings
The results of this study indicated that Vietnam, Cambodia and Myanmar were the first, second and third most preferred countries for real estate investments, respectively. Moreover, the results clearly show a trade-off between perceived country risk and financial returns, indicating that a higher perceived country risk can be compensated for with higher financial returns.
Originality/value
Real estate investment decisions are usually made in an ad hoc manner in Southeast Asia. This study helps investors make more informed decisions when investing in real estate projects across three rapidly growing but significantly understudied Southeast Asian countries: Cambodia, Myanmar and Vietnam.
Copyright © 2023, Emerald Publishing Limited
Although real estate investment decisions are among the most important managerial decisions, such decisions are usually made in an ad hoc fashion in Southeast Asia. The purpose of this study is to present a two-tier multi-criteria decision-making model for real estate investment decisions across three rapidly growing but significantly understudied Southeast Asian countries: Cambodia, Myanmar and Vietnam.
Design/methodology/approach
Using three data sources (secondary data, two surveys and nearly 100 experts and senior executives), the authors applied a combination of the Analytic Hierarchy Process and the Simple Additive Weighting (or weighted sum) methods as two special cases of multi-criteria decision-making to assess nine real estate investment projects across Cambodia, Myanmar and Vietnam.
Findings
The results of this study indicated that Vietnam, Cambodia and Myanmar were the first, second and third most preferred countries for real estate investments, respectively. Moreover, the results clearly show a trade-off between perceived country risk and financial returns, indicating that a higher perceived country risk can be compensated for with higher financial returns.
Originality/value
Real estate investment decisions are usually made in an ad hoc manner in Southeast Asia. This study helps investors make more informed decisions when investing in real estate projects across three rapidly growing but significantly understudied Southeast Asian countries: Cambodia, Myanmar and Vietnam.
Copyright © 2023, Emerald Publishing Limited
| Original language | English |
|---|---|
| Pages (from-to) | 1143-1166 |
| Journal | Journal of Asia Business Studies |
| Volume | 17 |
| Issue number | 6 |
| Online published | 19 Apr 2023 |
| DOIs | |
| Publication status | Published - 1 Nov 2023 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 17 Partnerships for the Goals
Research Keywords
- Real estate investment
- Southeast Asia
- Multi-criteria analysis
- Underdeveloped countries
- Investment decision
- Developing countries
- Real estate
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