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Jakarta Post

Millennials struggle to purchase houses as prices keep soaring

  • Riza Roidila Mufti

    The Jakarta Post

Jakarta   /   Mon, April 30 2018   /  01:01 am

As property and house prices keep soaring in the Greater Jakarta area, it is getting harder and harder for young middle-class workers to buy a place of their own. Even though many millennial workers want to purchase property, budget constraints and high property prices are becoming major obstacles. Buying a property could even be a lifetime process for them, as they would need to purchase it in installments over decades. Taufik Agung, a 26-year-old private employee in Central Jakarta has no option but to buy a house in his hometown of Purwokerto (Central Java), instead of in Greater Jakarta, as he found that house prices in Greater Jakarta were very expensive for him, even for a small house. “Actually house prices in Purwokerto are expensive too, although they are not as expensive as in Jakarta. So, I still need to save up money for the down-payment anyway,” he said on Friday....