Youngster Become the Key to National Property Industry Growth

By : Ridwan And Aldi Firhand. A | Wednesday, December 27 2017 - 22:39 IWST

Property Illustration
Property Illustration - Jakarta, property observer and founder of Panangian School of Property, Panangian Simanungkalit estimates young people in the millennial will encourage the development of property industry trends for the coming period.

"This year's developer orientation leads to the development of property products that can be reached by the millennial generation market," he said in Jakarta (26/12/2017).

He added that this segment will continue to potentially continue to grow for the next 10 years. According to him, the purchasing power of the millennial generation in the property sector are those supported by economically well-established parents.

"While their own ability in buying property usually only ranges between Rp500 million to Rp1 billion," he explained.

However, he reminded that the population of this segmentation will continue to grow significantly due to the demographic bonus so that it also affects the property industry as a whole.

The millenial market is a potential market that will continue to increase until it reaches its peak in 2030. For that, he said, the banks of housing lenders should also be more open to access by this millennial generation.

He also argues that the increase in the number of millennials in property purchases contributes to the growth of creative industries in the architectural and interior sub-sectors.

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