Indonesian millennials dominate the property buying scene in Karawaci

Each two-storey home in this township is worth around IDR500 million (USD34,681)  

Aerial view of residential homes in Banten, Indonesia. AkhmadDodyFirmansyah/Shutterstock

According to Indonesia’s leading property portal, a township developer in the Karawaci subdistrict have managed to recover from the pandemic because of millennial buyers who snapped up two-storey homes valued at around IDR568 million each.

Each unit, which measures around 50 to 80 square metres, not only boasts a car canopy, but also smart home features to manage doors, windows and other sensors – all through a user’s mobile phone.

PT Lippo Karawaci Tbk revealed that their Cendana Homes project in the Lippo Village of Karawaci subdistrict, Tangerang City have received positive feedback during the marketing campaign last weekend.

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“We are very proud that Cendana Homes has received an extraordinary reception from the community, especially during the current pandemic situation. What’s also interesting is that more than 50 percent of the buyers are dominated by millennial young people who are not married and buy for use (end users),” said CEO of PT Lippo Karawaci Tbk John Riady.

Situated in the centre of Lippo Village, Cendana Homes can easily be accessed via the Jakarta – Merak toll road. It is also in a prime location as it just nearby Universitas Pelita Harapan (UPH), Menara Matahari, Imperial Golf Club, Benton Junction and Aryaduta Hotel.

The 1,300-hectare project was designed to be an environment-friendly international city and is poised to become a major central business district in the region of Banten. The township is also surrounded by over 155,000 large tree vegetations that aims to improve the living conditions in the area. It is managed by local authorities around the clock.

Editor’s Note: Interviews are roughly translated from Bahasa