Gen Z and Millennials in Jabodetabek Remain Optimistic That They Can Own a Home in the Next 10 Years

Jakarta, 17 October 2025 – Soaring house prices in the city center have encouraged Gen Z and Millennials to choose rental housing such as rented housing, apartments, or boarding houses or living together. In the midst of the current property market dynamics, a survey conducted by Small bay as a housing provider living together modern community-based to Gen Z and Millennials who rent housing in Jabodetabek actually shows that more than 80 percent believe that they can buy a house in the next 10 years. Behind this optimism, this survey found a number of concerns regarding home ownership, such as property prices, budget adequacy, and the role of the house in plans to build a family.

Homes remain the dream residence format for Gen Z and Millennials

The attractiveness of Jakarta as an economic center has brought many people to come and pursue career fortunes. However, with high property prices in Jakarta, Gen Z and Millennials, who currently dominate the workforce in various sectors, are finally turning to rental housing in the Jabodetabek area to support their daily lives. The two main reasons that support their background in choosing rental housing at this time are the distance to work (40 percent) and the affordability factor (38 percent).

“Currently, Gen Z and Millennials are in a phase where they are building professional careers and economic stability. However, the need for strategic housing in conflict with high property prices has pushed them to switch to rental housing. This decision helps them to make mobilization more efficient in terms of costs, time and energy, even though they cannot yet afford to buy a house. Living together “What Cove offers is an alternative rental housing that suits these needs, and is reflected in how 95 percent of our residents are Gen Z and Millennials,” said Dian Paskalis, Director of Country Growth and Vice President of Online Marketing, Cove.

Even though it is still difficult to reach, home is still the final destination for Gen Z and Millennials. Currently, only 56 percent of them feel that having a home is very important. However, when it comes to long-term plans, 83 percent of respondents feel that owning a home will be very important in the future. This underlines that the house remains their dream residence format, even though it is not yet a priority at this time.

Family plans are becoming an urgency in home ownership

Apart from economic stability, family plans have a big influence on Gen Z and Millennials’ decisions to buy a house. Nearly 50 percent of respondents stated that the decision to start a family, whether getting married or having children, would be a factor that would make them more confident about buying a house immediately.

The connection between family plans and home ownership for young people was also conveyed by the Governor of DKI Jakarta Pramono Anung. At the Housing Program Credit Socialization event at Jakarta City Hall last September, he said that many young people in Jakarta are postponing marriage because of housing problems. This survey also shows the same perception, where the majority (44 percent) of Gen Z and Millennials feel they don’t have the courage to start a family if they don’t have their own home.

Optimism in home ownership comes with price sensitivity

The heated discussion about the challenges of Gen Z and Millennials in buying a house has not dampened their optimism. In fact, the majority feel confident that they will be able to buy a home in the next 10 years, indicating that both generations are confident that the housing market and economy will recover. However, this optimism also comes with a number of concerns regarding house prices and the budget that might need to be spent.

Gen Z and Millennials see several main challenges in buying a house, namely high house prices (68 percent), insufficient salaries (47 percent), and mortgage and down payment costs that still feel heavy (43 percent). In line with these concerns, property prices are also their main consideration when looking for housing. Currently, the majority state that the budget they can spend each month for rent or installments for purchasing a residence is IDR 1.5-3 million per month.

“While Gen Z and Millennials are quite sensitive to home prices, our survey also found that they are more reluctant to give up design, time round-trip, and location for more affordable housing prices. For the younger generation, their dream home is not just about price, but how to make the space meet their residential preferences. Living together from Cove is here to accommodate these needs with high rental flexibility, providing a living space that is functional, aesthetic and suits their metropolis lifestyle while saving for their dream home.” closed Diane.

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Methodology

This survey was conducted in October 2025 involving 100 respondents selected based on a number of specific criteria. Respondents aged 21 to 35 years who live in the Jabodetabek area. All respondents currently live in rental housing (rented or boarding) and come from various economic backgrounds and employment status, including employees, students, business owners, or job seekers.

About Cove

Cove is a residential provider living together modern community-based in Asia Pacific. Designed for a flexible lifestyle, the Cove portfolio includes ready-to-move-in properties with complete facilities and strategic locations that can be rented on a monthly or daily basis. As a major co-living player in Indonesia, Cove is now present in more than 200 locations and is the choice for more than 30,000 residents and tourists every month.

Founded in 2018 in Singapore, Cove began operating in Indonesia in 2020 and now has a property network covering the Jabodetabek, Bandung, Bali and Surabaya areas. Apart from Singapore and Indonesia, Cove has expanded its operations to Japan and South Korea as a form of expansion in Asia Pacific.

Get the latest information from Cove via Cove.id/pressInstagram @cove_idand TikTok @cove_id. The Cove application can be downloaded at App Store And Google Play.