COVID-19, Renting Deemed Viable for Millennials than Ownership

TEMPO.CO, Jakarta - Ciputra Group associate director Sinyo Pelealu on Wednesday suggests millennials to rent rather than purchase a house or apartment amidst a global COVID-19 pandemic, especially for those that have been financially affected by it.

“Millennials with a stable income would prefer purchasing while also investing, but for those that don’t would tend to rent first until they can afford one,” said Pelealu to BISNIS on Wednesday, June 17.

Personally, Pelealu suggested the millennial generation to take the ownership route only after the economy has recovered and follow the current trend that sees millennials, especially in major cities, opt for apartments as temporary housing. 

He said millennials most often look for apartments that are within a short distance to their workplace.

“However in the future, a house would be the better option if one has started a family as having a house is the healthier option, especially for households that do not work or dwell in outdoor activities,” said the  Ciputra Group associate director.

Meanwhile, Director and Head of Research Savills Indonesia, Anton Sitorus said that the millennial segment has become a prospective market despite the varying degree of property preferences. Anton acknowledges the difference in the urge to own a house compared to the generations that preceded them.

Read also: Millennials Asked to Not Underestimate COVID-19 Pandemic

BISNIS