Understanding youth choices in house renting and buying decisions: a systematic review
Abstract
Deciding on purchasing or renting a house are two significant financial decisions as it involves a large proportion of one’s expenses, specifically to the youth. Although the property market price index in Malaysia statistically shows an increase every year as observed by the National Property Information Centre (NAPIC), demand for purchase still remains stagnant in the housing market. With inflation and the ringgit's depreciation, purchasing or renting a house possesses difficulties for undergraduates to consider after they have completed their studies. Previous published literature on house decision is more focused on employed individuals, investors and green homes, leaving a gap in the study of undergraduates students, where their perspectives are limited to assess. As it is prevalent to understand their perspectives, this research aims to fill a research gap by identifying the factors that influence undergraduates to purchase or rent in residential properties with thematic analysis. Literature search on two reputable databases identified 33 closely related articles to the research area, later filtered to 13 articles fit for analysis. The results of thematic analysis suggest three themes; location suitability, housing preferences and financial stability. The results contribute to the understanding of undergraduates' perspective on housing and renting issues that might have an effect on the real estate market demand and supply policy and interventions, specifically on the…
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