Indonesian millennials prefer lifestyle maintenance over home ownership


Online home marketing platform country manager Ignatius Untung suggests that millennials save money so they can afford to buy houses or apartments.  

“According to our survey, most of our millennial respondents cannot afford homes because they refuse to give up on their lifestyles,” Ignatius said during a press conference in Jakarta on Wednesday, referring to millennial spending on traveling, hanging out at hip places and organizing glamorous one-time events.

Ignatius said one rich millennial correspondent said he had opted to splurge on his wedding over buying a home.

Meanwhile, the government has initiated several programs to help millennials become homeowners by offering subsidized housing and a 1 percent down payment scheme.