Indonesian property sector recorded a new demand for condominiums in the quarter I-2010 as many as 1150 new units. “Active-quarter sales in 2010, supported by lower interest rates on loans by approximately 90-10 percent of bank interest,” said Associate Director of PT Procon Indah Utami Prastiana, told reporters at a press conference in the event of research results in the property market developments in first quarter Procon -2010, in Room Building Forum Indonesian Stock Exchange (IDX), Jakarta, Tuesday (11/05/2010).
In addition, he continued, active developers in offering a lower down payment and payments gradually with a sufficiently long period of trial flexible. “From our projections, new supply will enter the market in second-quarter 2010 to 2011 amounted to 12 thousand units,” he added. With the level of competition that still remain higher, the developer would provide an attractive incentive in the payment pattern. “The government’s policy while maintaining the BI rate is 6.5 percent, predicted sales would help absorption condominium better,” he said.
Just for information, the total supply during the first quarter condominium-2010 in Jakarta, was recorded at 71 760 units, where the level of sales increased 97 percent in the quarter I-2010, an increase of two percent in the first quarter-2009 amounted to 95 percent. 2010 occupancy levels increased from 63.4 percent in the quarter I-2009 to 70.9 percent in first quarter-2010. Average condo sales level was significant increased to 68 percent and sales of condominiums are still under construction amounted to 2200 units, mostly from middle and upper segments in Jakarta
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