A real estate project can fail not because it does not provide value, but because it does not correspond to what buyers are looking for. The fundamental objective of qualitative factors on buyer preferences is to ensure the robustness of the decision-making process. Brereton et al. (2008) explore the link between an individual's subjective well-being and the geography and environment in their vicinity. They found that living in public housing had a negative relationship with life satisfaction after accounting for income and a number of socioeconomic and environmental factors. In several reviews of factors associated with subjective well-being it is suggested that living in an area perceived as deprived is detrimental to life satisfaction (Dolan et.al. (2008) and Abraham et.al. (2010)). Thrall (2002) reports evidence that success in real estate investing is likely to be replicated by success in identifying the geographic context of a successful real estate asset. Demographics and other spatial attributes within the real estate area have a great influence on the success of real estate development, such as a shopping mall or entertainment facilities. Real estate market analysts have most often relied on ring study and driving time analysis (Fik ( 2005)). In the ring study, circles are drawn around the proposed real estate or site. The radius continued to increase until a specific number or percentage of customers were captured by the circular shopping area. This radius is then used by the analyst to calculate hypothetical areas for the proposed sites. Driving time analysis helps you calculate the travel time between the source and the destination. Driving time between areas considers customers' willingness to travel, multi...... middle of paper ......us of the location, i.e. whether wealthy people reside or people living on government benefits. location. Fujiwara et al (2011) and Podor (2010) discussed how crime and safety influence the status of neighborhoods with a large impact on property prices. Dolan et.al (2008) stated that a key parameter for life satisfaction is neighborhood status. Rabianski (1995) concluded that an important element of life satisfaction is access to green areas. Podor (2010) stated that basic education is one of the factors that influence people's decision in purchasing or selling real estate units. People want to live in that location that matches their education because they will be able to find neighbors based on that educational status. Brereton et.al (2008) found that there is a tendency for people with the same ethnic race to live in the same locality.