Abstract
The purchase decision of buying a house or property is still considered important for young people. This paper aims to examine the factors related to purchase decision in buying a house during the pandemic Covid-19 that now has been lasted for almost one year. We considered feng shui factors as one of the important reasoning because the Chinese belief for the position and direction of the house will impact the occupants. Another variable are brand reputation and financial aspects. We run the data with regression to identify the relation and magnitude of independent to dependent which is property purchase decision. We focus on millennials cohort because they are the driver in the workforce and hit by the pandemic condition. Our sample consists of 112 of millennials that lived in Jakarta greater area.
Highlights
In early 2020, the Covid - 19 epidemic occurred, which according to the World Health Organization (WHO), Covid - 19 was an infectious disease caused by the corona virus which was recently discovered and began to plague in Wuhan, China in December 2019
In order to survive during a pandemic, many property market players have reduced property prices in order to attract consumers
According to Sekaran and Bougie (2020) in descriptive research, connectivity between the independent variables and the dependent variable will be studied.This research was conducted to determine the influence of financial aspects, brand reputation, ease of access, and feng shui beliefs on the decision to buy house by millennials in the Greater Jakarta area during the current Covid-19 pandemic
Summary
In early 2020, the Covid - 19 epidemic occurred, which according to the World Health Organization (WHO), Covid - 19 was an infectious disease caused by the corona virus which was recently discovered and began to plague in Wuhan, China in December 2019. Covid - 19 has caused a pandemic that has hit many countries around the world (who.int/indonesia, 2020). Indonesia is no exception; it has experienced the Covid-19 pandemic where this pandemic has created a domino effect into a social and economic problem that has hit all levels of society. This is evident from Indonesia's economic growth in the first quarter of 2020 minus 5.32 percent (idxchannel.com, 2020). According to the Ministry of Industry, around 60% of industries were affected due to the Covid-19 pandemic. In 2020 the Indonesian property market is expected to be vibrant. Based on data from Rumah.com (2020) that in the second quarter of 2020 there was a correction in property prices, with a downward trend in prices since April 2020
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