The Decision Making Process of Millennial in Buying Property in Malaysia

Tee, Jia Man (2020) The Decision Making Process of Millennial in Buying Property in Malaysia. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Housing can be considered as a basic need for human to live. However, the circumstance of property overhang in Malaysia are getting serious and serious in the few past years which it has leads the property market into dilemma. Based on the news such as TheEdge, The Star and etc. reported that this issue arise is mainly due to potential home buyers are facing unaffordable price range as well as the developers failed to match the housing preference of home buyers when developing property. Thus, it has raised a research interest on studying the housing preference of Millennial in Rawang and to determine the factor that affecting the decision making process of millennial for property development in Rawang. A total 300 set of questionnaires has distributed through hard copy and google form. Yet, only 135 sets of questionnaires are received from the respondents and it has achieved the target sample size (100). The method of data collection in this dissertation is through primary (questionnaire survey) and secondary data (literature review). Moreover, the data collected from the respondents is analysed by using descriptive analysis through SPSS software. The result findings reveal that the housing preference of millennial in Rawang are mainly preferred to purchase a terraced unit with affordable price range. Besides that, millennials are preferred to stay in Rawang Town because they prefer the distance between home and working place can be shorten and can easily accessible from one place to another place. In this dissertation, the result indicates that a few significant of factors are greatly affected the decision making process of millennial when they are planning to purchase property in Rawang. This result shows the proximity to recreational park, green feature, number of housing address e.g. 4/8 are least important factor that will influence them when they are making their buying decision. In summary, this dissertation provides an understanding of housing preference of millennial in Rawang as well as the factor that will affect the millennial’s buying property decision. Ultimately, the result finding of this dissertation can be served as a valuable guideline and reference for the developers in order to improve or rectify their sale performance to make the property development become successful and resolve the property overhang issue in Malaysia.