Housing-Estate.com, Jakarta – Sector apartments one of the hardest hit by the weakening property market and the economy in recent years. But it predicted conditions will soon improve even gradually.
“In 2017 the property market, especially apartment sector will enter a new cycle and will grow gradually. This boosted the economic growth target of above 5 per cent, the value of gross domestic product (GDP) is quite large, and government policies are pro-business, “said Anton Sitorus, Director, Head of Research and Consultancy Savills Indonesia, when describing the economy outlook in 2017 in Jakarta, this week.
Anton refer to GDP ratio of the mortgages are still very small, only 2.8 per cent. While Malaysia ratio reached 37.8 percent, even Singapore almost 46 percent. Because of the housing needs in Indonesia is still very large excess supply (oversupply) in the previous years is predicted to be absorbed in 2017.
Some of the data indicates all the 2nd quarter and 3 apartments uptake continues to grow mainly middle class apartment. Of the approximately 120 thousand apartments woke up, the apartment is in the business district (CBD) at a nice level of absorption. Anton said there was no problem with the apartment consumer purchasing power, the decline in demand during this time because of the economic situation does not support. Nevertheless the general sales of apartments are still quite positive.
“The ups and downs of the property can be predicted and in Indonesia has never been a history of falling property prices in the long term. This is because the housing needs of a very large and growing due to population growth and migration, “he concluded.
housing-estate.com
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