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In Jakarta, home ownership is out of reach for many

The Straits Times

|

January 15, 2025

Residents of city of 11 million forced to look farther afield as space shrinks, prices soar

In Jakarta, home ownership is out of reach for many

While scrolling through social media, Indonesian movie-goer Jessica Sihotang stumbled across a film depicting a woman in her 30s struggling to make the dream of buying a Jakarta home a reality.

Nearly two million like-minded Indonesians tuned in to watch the protagonist's house-hunting journey when Home Sweet Loan was released in 2024, the movie's producer said.

Residents of the megalopolis of 11 million are finding it impossible to climb the property ladder, as space shrinks and prices rise, forcing them to seek faraway homes that come with arduous commutes.

The film sparked widespread chatter among Jakartans, as its main character's grievances resonated with their own long-time housing woes.

"I can relate so much. I've been thinking about it for the past 10 years," said Ms Sihotang.

"I want to have my own house, but my savings have never been enough even just for the down payment," added the 35-year-old university admissions worker.

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