Millennials in Indonesia most enthusiastic about buying a house: survey
Youngsters in the archipelago are raring to leave the nest, according to the latest Rumah.com Property Affordability Sentiment Index
While millennials around the world defer home ownership, those in Indonesia appear to express much enthusiasm at buying residential property, according to the latest Property Affordability Sentiment Index by Rumah.com, Indonesia’s leading property portal.
Millennials, defined as individuals born between 1982 and 1997, want to buy a home in the next six months, according to surveys conducted by Rumah.com between December 2018 and January 2019.
Majority of millennial respondents are still living in their parents’ homes and plan to leave in the next six months.
“It can be concluded that young millennials have the desire to leaving the house faster than the old millennial,” Rumah.com researchers reported.
More: 6 things foreigners may not know about owning a home in Indonesia
Around 61 percent of millennial respondents want a new house, compared with just 34 percent of older age segments (ages 40 to 59). Only 39 percent of millennials do not mind resale homes.
Of the millennial respondents planning to leave their parents’ homes, a quarter choose to rent rather than buy their own house, however.
Millennials typically prefer homes in the mid-price range and close to public transportation. “However, this generation still does not have careful planning in planning to buy a house,” Rumah.com noted in Bahasa.
Up to 12 percent of millennial respondents who plan to buy a house reported working multiple jobs to realise their plans.
Recommended
Hong Kong’s homecoming: Housing market reawakens, will it weather the interest rate storm?
Hong Kong’s reopening has led to growing indications of a rebound in the territory’s struggling housing market
6 of the exciting areas to visit in Lipa, Batangas (PH)
With its cool weather, nature, and laid-back lifestyle, this city in Batangas Province is a rising star
Ok, boomers, Gen X’ers: Where are they now in their property journeys?
Ageing societies in Southeast Asia mean that catering to the requirements of mature investors will be a key challenge for developers
Pursuing a career in sustainability paves a path for a green, resilient, inclusive property sector
The Narrow Door Podcast Host Sam Oh speaks with World Bank Group's Angelo Tan on his career journey