This study aims to determine the effect of economic factors on investment decisions, especially in property and real estate companies listed on the Indonesia Stock Exchange for the period 2020-2023. The economic factors that are the focus of this research are inflation and interest rates, with investment decisions proxied by the Price Earning Ratio (PER). The sample in this study consisted of 8 companies selected using a non-probability sampling method with purposive sampling technique. Meanwhile, the research population includes all property and real estate companies listed on the Indonesia Stock Exchange as many as 94 companies. The method used in this research is a quantitative method with an associative approach. Data analysis was carried out using multiple linear regression techniques to measure the effect of inflation and interest rates an investment decisions. The results showed that inflation has a positive and significant influence on investment decisions as measured by Price Earning Ratio (PER). This means that an increase in inflation drives an increase in PER, which indicates that investors still have optimism about the prospects for investment in the property and real estate sector despite inflationary pressures. Conversely, interest rates have a positive and significant effect on investment decisions, which means that an increase in interest rates causes a decrease in PER. This shows that when interest rates increase, investors tend to shift their investments to safer instruments, thereby reducing interest in stocks in the property and real estate sector.

Keywords:: Investment Decision. Inflation, Interest Rate, Price Earning Ratio