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Jakarta Post

Govt looking to help 81 million millennials afford housing

  • News Desk

    The Jakarta Post

Jakarta   /   Tue, June 25, 2019   /   10:20 am
Govt looking to help 81 million millennials afford housing A model of a transit-oriented development (TOD) planned for South Jakarta's Tanjung Barat Station. (kompas.com/Daniel Prabowo)

Owing to a combination of increasing housing prices and high costs of living, 81 million Indonesian millennials cannot afford to buy a house or apartment, according to the Public Works and Housing Ministry.

Public Works and Housing Ministry House Procurement Director General Khalawi Abdul Hamid said the ministry and several related parties were working on a scheme to help millennials afford to buy housing.

“The government is trying to facilitate people, including millennials, to buy houses through [several programs, including] the one-million house program,” said Khalawi on Monday as quoted by kompas.com.

The ministry categorizes millennials into three clusters: those aged 25 to 29, who are mostly in the process of searching for jobs; those aged 30 to 35, who already have jobs and families; and those aged above 35 years, who have high incomes.

Those in the first cluster typically only need to rent apartments that have access to public transportation, Khalawi said, adding that the second cluster of millennials needed 36-square meter residences with two bed rooms.

Meanwhile, the third cluster of millennials could find residences based on their incomes as well as their preferred type of residence.

Khalawi said that, according to research conducted by the ministry, millennials preferred to own or rent residences in urban areas that were well connected to public transportation.

The survey also showed they preferred residences with an internet connection. (bbn)