Survey, Millennial Generation More Interested to Buy Apartments

By : Ahmad Fadli And Aldi Firhand. A | Wednesday, October 25 2017 - 22:58 IWST

Property Illustration
Property Illustration - Jakarta - As long as this home tread is still the primary choice of occupancy seekers rather than apartments. This is normal because the tread house does offer some advantages over vertical dwelling, as it still has its own land whose value is steadily rising, and its maintenance is simpler and the dues of a lower occupancy environment.

However, as land prices are increasingly expensive in big cities and more practical lifestyle demands from young or millennials, market interest in vertical housing as a residential option is also increasing. This is evident from a survey of 5.5 million property seekers through the property portal each month.

"If last year only about 35 percent of visitors who are interested in the apartment, this year the number jumped to more than 50 percent. People seem to have been more willing to stay in smaller apartments during the location and the price of their budget entry, "said Ike Hamdan, Head of Marketing, when exposing the 2018 market outlook property in Jakarta, not long ago.

The size of the apartment unit is not too much a consideration for the apartment finder rather than location, access, and price. Younger people are willing to live in smaller dwellings as seen from the much sought-after type, ie studio type to one district for under Rp20 million / m2.

"For these people there is a psychological limit on the maximum selling price of the apartment (which they want to buy) that should not be above Rp700 million, because it is considered out of their reach. Hence the integrated mass transport apartments such as train stations or famous for the term transit oriented development (TOD) which is being intensively offered by the government, they are also very interested, "he said.

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