CONCEPTUAL MODEL OF MILLENNIALS HOUSING PREFERENCES MODEL

Abstract

This study will discuss the housing preferences of millennials in Surabaya. The approach used by analyzing previous related studies, making synthesis from collected study, and creating a critical view for each related study. The objective of this research is to find the decision reason for the millennial when buying a house. This study uses the previous housing preferences model in Jakarta (Y. Mulyano et al 2020), with several indicators, such: location, accessibility, price, physical attributes, facilities, design, and aesthetic aspects, developer reputation, land ownership and adding one influential indicator from another research is the service charge (Tawil, et al 2017). All these indicators will determine millennials' choice when buying a house, especially the characteristics of the house, whether they prefer a vertical house or a landed house. The scope of this research is focused on analysis of housing preferences only on millennials in Surabaya. This study's findings produce several actions based on the result of millennials preferences in Surabaya for three main stakeholders are consumers, real estate developers, and government.