Youngsters set to take over Indonesian housing market

Slowing industry: An aerial view of central Jakarta. Increasing consumer prices in the country are making it difficult for younger generation buyers to finance their purchase in the housing market. — AFP

JAKARTA: Amid ongoing recovery in the domestic-property industry, younger generations are expected to take over the majority of the housing-market share; but reduced buying power means government assistance is needed to assist this segment.

In a virtual presentation conducted on Aug 26, housing consultancy-firm Indonesia Property Watch (IPW) estimated that more than 63.4% of potential house buyers are millennials or members of Generation-Z (Gen-Z).