NON BANK SHARIA HOUSING DECISION SEGMENT: HALAL FRIENDLY ENVIRONMENTAL EFFECTS AS MODERATION
Downloads
Introduction: The study conducted by researchers aimed to examine the correlation between pricing and digital marketing, as well as the impact of a halal-friendly atmosphere on the robustness of non-bank sharia-based property purchasing choices.
Methods: The research methodology used in this study is quantitative, using the software SmartPLS 3.0. The collection of primary data was conducted by sampling respondents, namely non-bank sharia housing customers, via the purposive sampling method. A total of 500 samples were used for the study. The data was obtained via the use of Google Form, with the indicator assessment being conducted using a Likert Scale.
Results: The study findings indicate a favorable correlation between pricing and digital marketing in connection to the decision-making process for purchasing non-bank sharia property. The establishment of a halal-compliant setting enhances the correlation between pricing and digital marketing in the context of consumer choices about non-bank sharia-compliant housing.
Conclusion and suggestion: The objective of this study is to identify market opportunities and offer guidance to sharia housing developers in developing innovative housing concepts that align with market demands. Additionally, the study aims to enhance developers' understanding of and ability to respond to the needs and preferences of buyers seeking a halal-friendly living environment.
Abdul Razak, D., Bilal, M., & Amin, H. (2021). Households' acceptance of affordable Islamic public-private housing co-operative model (IPHCM) in Malaysia. International Journal of Islamic and Middle Eastern Finance and Management, 14(1), 34–56. https://doi.org/10.1108/IMEFM-08-2019-0325
Ahroum, R., Touri, O., & Achchab, B. (2020). Murabaha and Musharakah Moutanaquissah pricing: an interest-free approach. Journal of Islamic Accounting and Business Research, 11(1), 201–215. https://doi.org/10.1108/JIABR-12-2016-0147
Akkaya, M. (2021). Understanding the impacts of lifestyle segmentation & perceived value on brand purchase intention: An empirical study in different product categories. European Research on Management and Business Economics, 27(3), 100155. https://doi.org/10.1016/j.iedeen.2021.100155
Al Qorni, G. F. W., & Juliana, J. (2020). Sharia Property Purchase Decision Without Bank: Analysis of the Influence of Price Factors, Environment and Religiosity. Jurnal Ekonomika Dan Bisnis Islam, 3(3), 234–245. https://doi.org/10.26740/jekobi.v3n3.p234-245
Alipour, M., Salim, H., Stewart, R. A., & Sahin, O. (2020). Predictors, taxonomy of predictors, and correlations of predictors with the decision behaviour of residential solar photovoltaics adoption: A review. Renewable and Sustainable Energy Reviews, 123(June 2019), 109749. https://doi.org/10.1016/j.rser.2020.109749
Amin, H. (2020). Examining the influence of factors critical for the consumer to accept the offered Islamic home financing. Journal of Islamic Accounting and Business Research, 11(7), 1379–1402. https://doi.org/10.1108/JIABR-07-2018-0110
Arli, D., Gupta, N., Sardana, D., & Sharma, P. (2023). Demystifying the evaluation of brands endorsed by religious leaders in the emerging markets. International Marketing Review, 40(1), 155–175. https://doi.org/10.1108/IMR-08-2021-0258
Arrigo, E., Liberati, C., & Mariani, P. (2021). Social Media Data and Users' Preferences: A Statistical Analysis to Support Marketing Communication. Big Data Research, 24, 100189. https://doi.org/10.1016/j.bdr.2021.100189
Azizah, L. (2022). The Practice Of Fair Transactions On Property Business : A Case On Islamic Property Company. Airlangga Journal of Innovation Management, 3(1).
Bao, H., Han, L., Wu, H., & Zeng, X. (2021). What affects the "house-for-pension” scheme consumption behavior of land-lost farmers in China? Habitat International, 116(July), 102415. https://doi.org/10.1016/j.habitatint.2021.102415
Behera, R. K., Gunasekaran, A., Gupta, S., Kamboj, S., & Bala, P. K. (2020). Personalized digital marketing recommender engine. Journal of Retailing and Consumer Services, 53(March), 101799. https://doi.org/10.1016/j.jretconser.2019.03.026
Bourema Sissoko, Abdoulaye M'begniga, W. B. (2021). Africans in China: The Lifestyle of Malian Muslims Businessmen in Guangzhou. North American Academic Research (NAAR), 4(4). https://doi.org/10.5281/zenodo.4704681
BuHamdan, S., Alwisy, A., & Bouferguene, A. (2021). Drivers of housing purchasing decisions: a data-driven analysis. International Journal of Housing Markets and Analysis, 14(1), 97–123. https://doi.org/10.1108/IJHMA-02-2020-0018
Buitrago-Mora, D., & Garcia-López, M. í€. (2023). Real estate prices and land use regulations: Evidence from the Law of Heights in Bogotá. Regional Science and Urban Economics, 101(April), 1–9. https://doi.org/10.1016/j.regsciurbeco.2023.103914
Chen, T. T., Wang, S. J., & Huang, H. C. (2020). "Buy, buy most Americans buy”: country of reference (COR) effects and consumer purchasing decisions. International Marketing Review, 37(3), 533–558. https://doi.org/10.1108/IMR-04-2018-0130
Chylinski, M., Heller, J., Hilken, T., Keeling, D. I., Mahr, D., & de Ruyter, K. (2020). Augmented reality marketing: A technology-enabled approach to situated customer experience. Australasian Marketing Journal, 28(4), 374–384. https://doi.org/10.1016/j.ausmj.2020.04.004
Dash, G., & Chakraborty, D. (2021). Digital transformation of marketing strategies during a pandemic: Evidence from an emerging economy during covid-19. Sustainability Switzerland Journal, 13(12), 1–19. https://doi.org/10.3390/su13126735
de Macedo, P. F., Ornstein, S. W., & Elali, G. A. (2022). Privacy and housing: research perspectives based on a systematic literature review. In Journal of Housing and the Built Environment (Vol. 37, Issue 2). Springer Netherlands. https://doi.org/10.1007/s10901-022-09939-z
de Palma, A., Vosough, S., & Liao, F. (2022). An overview of effects of COVID-19 on mobility and lifestyle: 18 months since the outbreak. Transportation Research Part A: Policy and Practice, 159(March), 372–397. https://doi.org/10.1016/j.tra.2022.03.024
Deif, A. M., & Logan, C. (2022). A Values-Based Approach for Development: An Islamic Perspective. Journal of Islamic Ethics, 9(9), 284–310. https://doi.org/10.1163/24685542-12340082
Ding, A. W., & Li, S. (2021). National response strategies and marketing innovations during the COVID-19 pandemic. Business Horizons, 64(2), 295–306. https://doi.org/10.1016/j.bushor.2020.12.005
Dolega, L., Rowe, F., & Branagan, E. (2021). Going digital? The impact of social media marketing on retail website traffic, orders and sales. Journal of Retailing and Consumer Services, 60(February), 102501. https://doi.org/10.1016/j.jretconser.2021.102501
Dumitriu, D., & Popescu, M. A. M. (2020). Artificial intelligence solutions for digital marketing. Procedia Manufacturing, 46(2019), 630–636. https://doi.org/10.1016/j.promfg.2020.03.090
Gholipour, H. F., Tajaddini, R., & Pham, T. N. T. (2020). Real estate market transparency and default on mortgages. Research in International Business and Finance, 53(February), 101202. https://doi.org/10.1016/j.ribaf.2020.101202
GleiíŸner, W., & Oertel, C. (2020). Conceptual framework for real estate transactions: What risk metrics are needed as decision support system? Considerations for German market participants. Journal of Property Investment and Finance, 38(3), 245–262. https://doi.org/10.1108/JPIF-01-2020-0014
Hasan, M. (2020). Social marketing: an Islamic perspective. Journal of Islamic Marketing, 11(4), 863–881. https://doi.org/10.1108/JIMA-12-2016-0105
He, H., & Harris, L. (2020). The impact of Covid-19 pandemic on corporate social responsibility and marketing philosophy. Journal of Business Research, 116(May), 176–182. https://doi.org/10.1016/j.jbusres.2020.05.030
Igamo, A. M., Saputra, A., & Ismail, R. G. (2023). Monetary Policy and Demographics : Empirical Evidence for Housing Prices in Indonesia. Sriwijaya International Journal of Dynamic Economics and Business (SIJDEB), 6(4), 371–384.
Islam, M. M. (2020). Segmenting, targeting and positioning in Islamic marketing. Journal of Islamic Marketing, 12(7), 1385–1404. https://doi.org/10.1108/JIMA-10-2018-0181
J, G. K., R, R., & S.V, S. (2020). Understanding sustainable strategies in low-cost housing. International Journal of Housing Markets and Analysis, 13(3), 413–425. https://doi.org/10.1108/IJHMA-05-2019-0050
Jagun, Z. T. (2020). Risks in feasibility and viability appraisal process for property development and the investment market in Nigeria. Journal of Property Investment and Finance, 38(3), 227–243. https://doi.org/10.1108/JPIF-12-2019-0151
Jannah, S. M., & Al-Banna, H. (2021). Halal Awareness and Halal Traceability: Muslim Consumers' and Entrepreneurs' Perspectives. Journal of Islamic Monetary Economics and Finance, 7(2), 285–316. https://doi.org/10.21098/jimf.v7i2.1328
John, S. S., Balapure, C., & Godwin, B. J. (2020). Young adults' socialization in housing and real estate purchase decisions in India. International Journal of Housing Markets and Analysis, 14(4), 701–719. https://doi.org/10.1108/IJHMA-04-2020-0042
Juliana, J., Monoarfa, H., & Jarianti, R. (2020). Sharia Property Business Development Strategy: IFAS and EFAS Matrix Model. AFEBI Islamic Finance and Economic Review, 5(01), 24. https://doi.org/10.47312/aifer.v5i01.333
Ketchen, D. J. (2022). A Primer on Partial Least Squares Structural Equation Modeling. In Long Range Planning (Vol. 46, Issues 1–2). SAGE Publications : Los Angeles. https://doi.org/10.1016/j.lrp.2013.01.002
Khan, M. I., Haleem, A., & Khan, S. (2022). Examining the link between Halal supply chain management and sustainability. International Journal of Productivity and Performance Management, 71(7), 2793–2819. https://doi.org/10.1108/IJPPM-07-2019-0354
Kirikkaleli, D., Gokmenoglu, K., & Hesami, S. (2021). Economic policy uncertainty and house prices in Germany: evidence from GSADF and wavelet coherence techniques. International Journal of Housing Markets and Analysis, 14(5), 842–859. https://doi.org/10.1108/IJHMA-07-2020-0084
Li, Y., Zhu, D., Zhao, J., Zheng, X., & Zhang, L. (2020). Effect of the housing purchase restriction policy on the Real Estate Market: Evidence from a typical suburb of Beijing, China. Land Use Policy, 94(2), 104528. https://doi.org/10.1016/j.landusepol.2020.104528
Liang, S., Schuckert, M., Law, R., & Chen, C. C. (2020). The importance of marketer-generated content to peer-to-peer property rental platforms: Evidence from Airbnb. International Journal of Hospitality Management, 84(June 2019), 102329. https://doi.org/10.1016/j.ijhm.2019.102329
Lin, Z., Zhang, X., & Zhang, Y. (2022). Online Advertising and Real Estate sales: evidence from the Housing Market. Electronic Commerce Research. https://doi.org/10.1007/s10660-022-09584-2
Liu, J., Xing, C., & Zhang, Q. (2020). House price, fertility rates and reproductive intentions. China Economic Review, 62, 101496. https://doi.org/10.1016/j.chieco.2020.101496
Low, S., Ullah, F., Shirowzhan, S., Sepasgozar, S. M. E., & Lee, C. L. (2020). Smart digital marketing capabilities for sustainable property development: A case of Malaysia. Sustainability (Switzerland), 12(13). https://doi.org/10.3390/su12135402
Lubowiecki-Vikuk, A., DÄ…browska, A., & Machnik, A. (2021). Responsible consumer and lifestyle: Sustainability insights. Sustainable Production and Consumption, 25, 91–101. https://doi.org/10.1016/j.spc.2020.08.007
Maoqin Guo, Betania Lartika, A. J. (2022). Halal Purchasing Patterns of Muslim Consumers in Linxia. Journal of Religious and Social Studies, 2(01), 39–48. https://doi.org/10.53583/jrss.v02i01.03.2022
Marko Sarstedt, Christian M. Ringle, J. F. H. (2020). Partial Least Squares Structural Equation Modeling (Issue July). Springer Nature : Switzerland. https://doi.org/10.1007/978-3-319-05542-8
Maslova, S., & King, R. (2020). Residential trajectories of high-skilled transnational migrants in a global city: Exploring the housing choices of Russian and Italian professionals in London. Cities, 96(July 2019), 102421. https://doi.org/10.1016/j.cities.2019.102421
Mohammad Masukujjaman, Cheng-Kun Wang, S. S. A. (2023). Green Home Buying Intention of Malaysian Millennials: An Extension of Theory of Planned Behaviour. Buildings, 13(1). https://doi.org/10.3390/buildings13010009
Mohammed, J. K., Aliyu, A. A., Dzukogi, U. A., & Olawale, A. A. (2021). Impact of COVID-19 on Housing Market: A Review of Emerging Literature. International Journal of Real Estate Studies, 15(2), 66–74. https://doi.org/10.11113/intrest.v15n2.128
Mohd Daud, M. A., Rosly, S. A., & Muhamad Sori, Z. (2021). Structuring fund for affordable housing investment in Malaysia: an exploratory research. International Journal of Housing Markets and Analysis, 14(2), 260–271. https://doi.org/10.1108/IJHMA-03-2020-0024
Muneeza, A., Fauzi, M. F., Bin Mat Nor, M. F., Abideen, M., & Ajroudi, M. M. (2020). House financing: contracts used by Islamic banks for finished properties in Malaysia. Journal of Islamic Accounting and Business Research, 11(1), 168–178. https://doi.org/10.1108/JIABR-04-2017-0057
Ng, S. I., Zhao, F., Lim, X. J., Kamal Basha, N., & Sambasivan, M. (2020). Retirement village buying intention: A case study on the Muslim and non-Muslim Malaysian elderly. Asia Pacific Journal of Marketing and Logistics, 32(7), 1451–1473. https://doi.org/10.1108/APJML-05-2019-0295
Nguyen, T. K., & Razali, M. N. (2020). The dynamics of listed property companies in Indonesia. Journal of Property Investment and Finance, 38(2), 91–106. https://doi.org/10.1108/JPIF-06-2019-0073
Nik Kamariah Nik Mat, N. H. A. G. (2020). Halal consumption determinants: The mediating role of risk perception and muslim lifestyle. Malaysian Journal of Consumer and Family Economics, 24(January), 63–78.
Papageorgiou, G., Loulis, V., Efstathiades, A., & Ness, A. N. (2020). Investigating factors affecting holiday home purchases in Greece. Property Management, 38(3), 419–435. https://doi.org/10.1108/PM-06-2019-0034
Perez-Bezos, S., Guerra-Santin, O., Grijalba, O., & Hernandez-Minguillon, R. J. (2023). Occupants' behavioural diversity regarding the indoor environment in social housing. Case study in Northern Spain. Journal of Building Engineering, 77(April). https://doi.org/10.1016/j.jobe.2023.107290
Pleyers, G., & Poncin, I. (2020). Non-immersive virtual reality technologies in real estate: How customer experience drives attitudes toward properties and the service provider. Journal of Retailing and Consumer Services, 57, 102175. https://doi.org/10.1016/j.jretconser.2020.102175
Potrawa, T., & Tetereva, A. (2022). How much is the view from the window worth? Machine learning-driven hedonic pricing model of the real estate market. Journal of Business Research, 144(April 2021), 50–65. https://doi.org/10.1016/j.jbusres.2022.01.027
Rabbani, M. R., Ali, M. A. M., Rahiman, H. U., Atif, M., Zulfikar, Z., & Naseem, Y. (2021). The response of islamic financial service to the covid-19 pandemic: The open social innovation of the financial system. Journal of Open Innovation: Technology, Market, and Complexity, 7(1), 85. https://doi.org/10.3390/JOITMC7010085
Rabiei-Dastjerdi, H., McArdle, G., Matthews, S. A., & Keenan, P. (2021). Gap analysis in decision support systems for real-estate in the era of the digital earth. International Journal of Digital Earth, 14(1), 121–138. https://doi.org/10.1080/17538947.2020.1808719
Rahadi, R. A., Wiryono, S. K., Nainggolan, Y. A., Afgani, K. F., Yaman, R., Azmi, A. S. M., Ismail, F. Z., Saputra, J., Rahmawati, D., & Moulyni, A. (2022). Determining the factors influencing residential property price: A comparative study between Indonesia and Malaysia. Decision Science Letters, 11(4), 485–496. https://doi.org/10.5267/j.dsl.2022.6.002
Rehm, M., & Yang, Y. (2021). Betting on capital gains: housing speculation in Auckland, New Zealand. International Journal of Housing Markets and Analysis, 14(1), 72–96. https://doi.org/10.1108/IJHMA-02-2020-0010
Rengga Eka Sarvian Mangun Redjo, Maranatha Wijayaningtyas, T. I. (2020). Determinant Factor of Millennials ' Intention Toward Purchasing Homes. International Journal of Scientific Engineering and Science, 4(7), 94–98.
Roger Bougie, U. S. (2019). Research Methods For Business: A Skill Building Approach, 8th Edition. Wiley.
Roscoe, J. T. (1975). Fundamental Research Statistics for the Behavioral Sciences. Holt, Rinehart and Winston, New York.
Salehzadeh, R., Sayedan, M., Mirmehdi, S. M., & Heidari Aqagoli, P. (2023). Elucidating green branding among Muslim consumers: the nexus of green brand love, image, trust and attitude. Journal of Islamic Marketing, 14(1), 250–272. https://doi.org/10.1108/JIMA-08-2019-0169
Sarika Zuhri, Ilyas, F. E. (2023). Structural Equation Modeling Analysis of Purchase Behavior of Halal Products. Indonesian Journal of Halal Research, 5(1). https://doi.org/10.15575/ijhar.v5i1.20170
Satria, A., Marselina, M., & Wahyudi, H. (2022). Consumer Perceptions in the Selection of Non-Bank Sharia House Ownership in the City of Bandar Lampung. Budapest International Research and Critics Institute (BIRCI-Journal), 4, 24061–24073. https://doi.org/10.33258/birci.v5i3.6430
Saull, A., Baum, A., & Braesemann, F. (2020). Can digital technologies speed up real estate transactions? Journal of Property Investment and Finance, 38(4), 349–361. https://doi.org/10.1108/JPIF-09-2019-0131
Saunders, M., & Bristow, A. (2023). Research Methods for Business Students (Issue February). Pearson plc : London.
Saura, J. R. (2021). Using Data Sciences in Digital Marketing: Framework, methods, and performance metrics. Journal of Innovation and Knowledge, 6(2), 92–102. https://doi.org/10.1016/j.jik.2020.08.001
Selim, M. (2020). Financing homes by employing Ijara based diminishing Musharaka. International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 787–802. https://doi.org/10.1108/IMEFM-05-2019-0217
Shi, Q. (2020). A much robust and updated evidences of the alternative real-estate based asset pricing. North American Journal of Economics and Finance, 51(November 2018), 100865. https://doi.org/10.1016/j.najef.2018.10.013
Smith, K. T., & Pinkerton, A. (2021). Apartment selection by college students: Do Americans and Asians use different criteria, information sources, and media? International Journal of Housing Markets and Analysis, 14(1), 55–71. https://doi.org/10.1108/IJHMA-12-2019-0124
Soon, A., & Tan, C. (2020). An analysis on housing affordability in Malaysian housing markets and the home buyers' preference. International Journal of Housing Markets and Analysis, 13(3), 375–392. https://doi.org/10.1108/IJHMA-01-2019-0009
Sulaiman, Y., Jamil, N. A. M., Othman, A. R., & Musa, R. (2020). The influence of green marketing, syariah compliance, customer's environmental awareness and customer's satisfaction towards muslim consumer purchasing behaviour in kedah. WSEAS Transactions on Business and Economics, 17(2014), 195–204. https://doi.org/10.37394/23207.2020.17.21
Sylvana, A., Awaluddin, M., & Mutahajjid, A. (2020). Marketing Strategy Model Based On The Benefit Of Sharia Property Developers In Indonesia. Journal of Archaeology of Egypt/Egyptology, 17(7).
Tanrıvermiş, H. (2020). Possible impacts of COVID-19 outbreak on real estate sector and possible changes to adopt: A situation analysis and general assessment on Turkish perspective. Journal of Urban Management, 9(3), 263–269. https://doi.org/10.1016/j.jum.2020.08.005
Ullah, F., Sepasgozar, S. M. E., Jamaluddin Thaheem, M., Cynthia Wang, C., & Imran, M. (2021). It's all about perceptions: A DEMATEL approach to exploring user perceptions of real estate online platforms. Ain Shams Engineering Journal, 12(4), 4297–4317. https://doi.org/10.1016/j.asej.2021.04.023
Ullah, F., Sepasgozar, S. M. E., Shirowzhan, S., & Davis, S. (2021). Modelling users' perception of the online real estate platforms in a digitally disruptive environment: An integrated KANO-SISQual approach. Telematics and Informatics, 63(March), 101660. https://doi.org/10.1016/j.tele.2021.101660
Umam, F. (2021). Sharia Housing: Religious Commodification and the Urban Muslims' Politics of Space. Tashwirul Afkar, 40(1), 23–47.
United Nations. (2020). The Impact of COVID-19 on South-East Asia. Policy Briefs, 1–29.
Wicaksono, A., Yunita, I., & Ginaya, G. (2022). Living side by side with nature: evidence of self-governance in three local communities in Indonesia. Heliyon, 8(12), e12248. https://doi.org/10.1016/j.heliyon.2022.e12248
Yang, R., & Che, T. (2020). Do social ties matter for purchase frequency? The role of buyers' attitude towards social media marketing. Computers in Human Behavior, 110(October 2019), 106376. https://doi.org/10.1016/j.chb.2020.106376
Zakaria, F., & Fatine, F. A. (2021). Towards the hedonic modelling and determinants of real estates price in Morocco. Social Sciences and Humanities Open, 4(1), 100176. https://doi.org/10.1016/j.ssaho.2021.100176
Zarghamfard, M., Meshkini, A., Pourahmad, A., & Murgante, B. (2020). The pathology of housing policies in Iran: a criterion-based analysis. International Journal of Housing Markets and Analysis, 13(3), 453–473. https://doi.org/10.1108/IJHMA-06-2019-0066
Zhenyu, S., & Taltavull, P. (2020). International capital movement towards the Spanish real estate sector. Journal of Property Investment and Finance, 38(2), 107–127. https://doi.org/10.1108/JPIF-05-2019-0067
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
- Every manuscript submitted to JEBIS must obey to the policy and terms set by Journal of Economics and Business Islamic.
- Publication rights on the contents of manuscript published by JEBIS is owned by JEBIS under consent and approval by the corresponding author(s).
- Full text of electronic publication of manuscripts can be accessed free if used for the purpose of education and research according to copyright regulation.
- Share ” copy and redistribute the material in any medium or format
- Adapt ” remix, transform, and build upon the material
- You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- You may not use the material for commercial purposes.
- If you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.
Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.