Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

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....