DETERMINING FACTORS INFLUENCING THE PRICE OF HOUSING FOR FIRST TIME HOME BUYER IN INDONESIA

Abstract

This paper is a part of an ongoing thesis research that tries to analyze the relationship between housing prices, first time home buyer preferences, and external factors arising that influence the price. The approach used is by analyzing, making synthesis, and giving a critical analysis from twenty papers related to housing preferences. The objective of this research is to find the buyer preferences factors that influencing price for first time home buyer. This paper revealed that economic conditions, payment methods, quality, location, physical attributes, facilities, design and aesthetic aspects are the factors that influencing the price of housing for first time home buyer. The scope of this research is limited to the analysis of factors influencing price on first time home buyer in Indonesia including Jabodetabek, Bandung, Surabaya, Denpasar, Medan, Pekanbaru, Balikpapan, and Makassar as representative of big cities in Indonesia. The findings of this study would be useful in making strategies or policies for housing in Indonesia