FACTORS INFLUENCING HOUSING PURCHASE DECISIONS OF MILLENNIAL GENERATION IN INDONESIA

Purchasing a house is considered as the most important achievement for an individual because it is the most expensive things people can buy and involves much consideration as well. This study has an objective to investigate the factors influencing millennial’s housing purchase decision in Indonesia. The conceptual framework developed based on previous literature and then adding family member’s influence as a new factor considering that Indonesian people has collectivist culture. Based on questionnaires collected from 179 respondents of housing buyers in Greater Jakarta Area and other cities in Indonesia show that Structural Attributes, Location, and Financial factors positively influence millennial’s purchase decision towards housing in Indonesia. Meanwhile the other two factors, Property Developer and Family Member’s Influence, are not influential. This study offers a new understanding of the millennial’s behaviour and preferences in buying housing in Indonesia.