KPR: The Most Popular Payment Method for Millennials to Own a Home Soon

The high price of property recently has become one of the reasons why millennials find it difficult to own a home. However, this doesn't entirely deter young people from wanting to own their own home soon.

Home Ownership Credit (KPR) can be an alternative that can help facilitate the purchase of residential property in the near future.

This is in line with findings from Telkomsel's digital survey, tSurvey.id, which shows that the majority of millennials who do not yet own a home plan to buy a house or apartment through a KPR in the near future, namely around 1 to 2 years. The percentage is higher than respondents who plan to buy a house in cash.

Specifically, 24% of respondents chose KPR to buy a house in less than a year. Then, 37% of respondents chose KPR to buy a house in the next 1-2 years.

The remaining respondents who chose KPR to buy a house in 3-5 years and more than 5 years were fewer. The percentages were 23% and 16%, respectively.

This is different from respondents who chose to buy a house in cash in the near future. It was recorded that only 9% of respondents chose the cash method to buy a house in less than a year. Then, 31% of respondents chose the cash method to buy a house in 1-2 years.

On the other hand, respondents who chose the cash method to buy a house in 3-5 years and more than 5 years were more numerous, at 27% and 33%, respectively.

"KPR has the potential to make it easier for millennials to buy residential property in the near future or within two years," according to the results of the tSurvey.id survey, Tuesday (14/3/2023).

This survey was conducted on February 10-12, 2022, on 390 respondents through the *audience profiler* feature of tSurvey.id. The proportion of male respondents reached 64% and female 36%.

Respondents were generally spread across Java and Bali, with an age range of 26-40 years. The majority belonged to the upper-middle socio-economic status (SES) class (94%), and were interested in e-wallets, fintech, financial applications, and online banking services.