Steep prices: An aerial picture of a residential area and commercial buildings in Jakarta. The city posted a steep decline in homeownership between 1999 and 2020. — AFP
JAKARTA: Homeownership in Indonesia has been dropping since 1999 as house prices have risen. Now, the affordability of homes is under further threat as a number of people face declines in real income as a result of the pandemic.
The national share of households with a home of their own fell to just over 80% last year from nearly 85% in 1999, according to data from Statistics Indonesia (BPS).
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