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Property prices continue to soar making it difficult to sell. According to Indonesia Property Watch (IPW), this condition causes people to prefer renting over buying, especially in big cities.

According to the IPW survey in 2020, young people in big cities prefer to rent rather than buy property. As many as 47,4% of respondents chose to live in boarding houses, then 47,1% chose apartments, and the rest chose to live in family or relatives' residences. With an average income of Rp. 6 million-Rp. 7 million per month for young people, they can only afford to buy property in installments of Rp. 2 million-Rp. 2,5 million per month or for Rp. 200 million-Rp. 300 million.

“With this price range, it is difficult for them to get property in Jakarta. That's why millennials prefer to rent apartments or boarding houses," said IPW Executive Director Ali Tranhanda as quoted from News One.