Cabaran Pemilikan Rumah untuk Generasi Milenium di Lembah Klang, Malaysia

Abstract

The Millennium Generation is a cohort of generations classified as a group between the ages of 23 to 38 years in 2019, it can be a reference point to describe the characteristics and demographics of this generation. In this new era of 2020, the Millennium generation has faced great challenges in the issue of home ownership, to understand this issue this research will identify the factors that influence home ownership and its challenges for the Millennium generation in home ownership in the Klang Valley. The methodology of this study is conducted quantitatively through a questionnaire study conducted to 500 respondents and a total of 467 respondents who have provided feedback that is 94.3%. As a result of the analysis, factors that influence ownership and challenges are identified. The Statistical Package for Social Sciences (SPSS) version 22.0 was used to analyse the data. The level of respondents’ agreement with the factor instrument was determined using mean values. Age, marital status, educational level, employer status, duration of employment, number of households, household income factors, and expenditure are factors that influence home ownership, based on the findings of the research. High cost of living, high house prices and lack of affordable housing supply, high instalment payments, high loan interest rates, no savings, high existing commitments, not eligible to buy a low-cost scheme house, employment is still unstable, and desire to buy a house after marriage are among the challenges that this Millennium generation face. The findings of this study are crucial in understanding why this problem occurs and how to address the problem of incapacity to purchase a home for this Millennium generation.