DETERMINANT INFLUENCING FACTORS FOR MILLENNIALS HOUSING PREFERENCES IN JAKARTA

• Main Author: Mulyano, Yunilson
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/47622
• Institution: Institut Teknologi Bandung

Growing number of millennials which are the biggest number who live in Jakarta live inside the city creates housing problems as well as the opportunities for developers to make profit. The limited number of spaces while the needs of housing keep increasing make the house price getting higher. This situation would make millennials hard to buy a house in the middle of Jakarta because they have limited sources of funds and millennials are still early in their career. Moreover, the young generation in Asian countries tend to delay owning a property until in their 30s. Thus, this paper aims to investigate the housing factors that affect millennials when they purchase a property. Twenty literatures reviewed as the basic concept to develop the main factors that used for the entire research. The conceptual used in this research then would validate the factors and reasons that millennials have when buying a house. The housing factors used for the housing preferences are location, accessibility, price, facilities, physical attributes, design and aesthetic aspects, developer reputation and land ownership. The methodology used in this research is qualitative and quantitative study. The quantitative study used the secondary data from Jakarta Property Institute’s Research and author owned questionnaire. The qualitative study conducted using a semi-structured interview with several informants. The number of interviews is not limited until the response from the informant becomes mature. The limitation of this study is this research and interview conducted in the Jakarta Metropolitan area and limited to the millennials. The questionnaire was developed by reviewing the literature study and author’s interpretation. After analyzed the quantitative and qualitative result, then this research compared all of the results. The findings of this research should be useful for the stakeholders like the government, real estate developers, and the consumers. The reasons and ideas from the informant could be used as an input for the government to set policies regarding affordable houses. The real estate developers also could use this research to make a business strategy to develop the millennials market segment. Finally, for the consumer, this research could be a guidance to help the customer find out about their preferences toward housing.