Growing middle classes boost demand
Countries such as Indonesia have seen significant growth of their middle class. On the back of strong economic growth in the country, the number of middle class and affluent Indonesians is expected to reach more than 140 million people by 2020, according to research from the Boston Consulting Group. The impact of this trend cannot be underestimated, as it continues to be felt in 2015. As people become more affluent, they also become better educated, more career-minded and have more purchasing power - including within the property market. They buy houses earlier and more often, leading to increasing turnover and demand for property.