Research: Landed Houses Are the Most Sought-After Property by Gen Z and Millennials

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Nabilah Muhamad 06/10/2023 14:39 WIB

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99 Group's research shows that landed houses remain the most sought-after property type among Gen Z and Millennials in the first half of 2023.

Property Types Sought by Gen Z and Millennials (H1 2022 - H1 2023)

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Research: Landed Houses Are the Most Sought-After Property by Gen Z and Millennials

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Property Types Sought by Gen Z and Millennials (H1 2022 - H1 2023)

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Based on research by the real estate technology company, 99 Group, landed houses are the most sought-after property type among Generation Z and Millennials up to the first half of 2023.

Specifically, 64.4% of Gen Z respondents expressed interest in landed houses, while the figure was 64.6% among Millennials.

The next most popular property type among these two young generations was land, with proportions of 13.6% for Gen Z and 14.3% for Millennials.

Finally, apartments were chosen by 9% of Gen Z and 9.4% of Millennials.

99 Group Head of Research Marisa Jaya stated that, in general, the interest of Gen Z and Millennials in the property sector is quite high and has significant potential.

"Gen Z and Millennials actually have a similar pattern. We see that their interest remains very high in landed houses," said Marisa in an online seminar with Bank Indonesia on Wednesday (4/10/2023).

99 Group's research also recorded the preferred property locations among young people in Indonesia. Their favorite locations are mostly major cities, especially Jakarta, which was chosen by 61% of Gen Z and 64.9% of Millennials.

"Currently, the most favored locations are still highly concentrated in major cities, including Jakarta, Bandung, Semarang, Denpasar, Surabaya, Medan, and other large cities," explained Marisa.

(See also: DKI Jakarta Became the Province with the Lowest National Home Ownership Rate in 2022)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Research: Landed Houses Are the Most Sought-After Property by Gen Z and Millennials

Research: Landed Houses Are the Most Sought-After Property by Gen Z and Millennials

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Research: Landed Houses Are the Most Sought-After Property by Gen Z and Millennials

Research: Landed Houses Are the Most Sought-After Property by Gen Z and Millennials

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Majority of Indonesian Migrant Workers Depart at a Young Age

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