Millennials Housing Preferences Model in Jakarta

Abstract

This paper will discuss the housing preferences among Millennials in Jakarta. The approach used is by analyzing twenty papers related to housing preferences, making synthesis from collected paper, and producing critical view for each related papers. The objective of this research is to find the reasons for the Millennial Generation when purchasing a house. This paper found that housing preferences for Millennials divided into several indicators, such: location, accessibility, price, physical attributes, facilities, design, and aesthetic aspects, developer reputation, and land ownership. All of these indicators will determine the choices of Millennials in buying houses, especially the character of the house, which landed a house or vertical house. This limitation of this research is that this research only studies about preferences on millennials generation who lived in the Jakarta Metropolitan Area. The findings of this study will be useful for the stakeholders, real estate developers, and consumers. The government could use this study to produce regulations regarding housing in Jakarta, while real estate developers could enhance their preferences when developing real estate targeted to Millennial’s market segment.