Growing global interest boosts demand in Indonesian property market

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Indonesia’s largest International Property Expo is scheduled to take place in four cities simultaneously in September attracting hundreds of developers.

Real Estat [sic] Indonesia (REI) together with Dyandra Promosindo and Rumah.com are planning to hold the Indonesia International Property Expo (IIPEX) 2019 from September 21-29 in Jakarta, Bali, Medan and Surabaya. The event is slated to become the largest Property Expo in Indonesia.

In a recent press conference, Country Manager of Rumah.com, Marine Novita, said “this event was created to call investors back to invest in Indonesia.”

luxury properties in Indonesia
Invest Islands luxury residences | © Invest Islands

 

 

The time is right

This is a well-timed call to action as President Jokowi’s second term officially begins in October and he is preparing what The Jakarta Postare calling a “bold reform agenda to lure foreign investment.”

Details have yet to be released but Thomas Lembong, Chairman of Indonesia’s Investment Coordinating Board (BKPM) is being reported by The Jakarta Post as saying “there will be massive cuts in terms of regulations, requirements or licenses that have burdened us all,” adding these reforms are “expected to open doors for both domestic and foreign investment, which would also add jobs.”

 

Read more on the Indonesian tax cuts plan to boost foreign investments

 

Property market confidence

Tribun News are reporting the results of the Rumah.com Property Affordability Sentiment Index H2-2019 survey, that as many as 61-percent of those surveyed expressed optimism and claimed to be satisfied with the national property market climate with 44-percent planning to buy property within the next year.

Michael Bayu, Director of Dyandra Promosindo, one of the IIPEX 2019 organizers, anticipates the Expo will draw 200-developers and 1000-property projects. “And this year more middle – low property projects, because there are more millennials than last year,” Tirto are reporting.

Embracing technology

This year will also see the use of the latest Real Estate CRM system called Fastkey – technology that is designed to automate and streamline the property sales cycle from launch to close of sale.

Bangsa Online are reporting Ir. Danny Wahid, M.T., Chairman of REI DPD as being hopeful Fastkey will encourage more people to “close on the spot.”

Indonesia has embraced technology and all-things internet more than any other country in Southeast Asia.

Indonesia is #1 for online transactions

Gapura Bali recently reported the Gross Merchandise Value (GMV) across the Southeast Asian region reached an eye watering USD 23.2 billion (over IDR 336 trillion) in 2018. With Indonesia ranking #1 for e-Commerce transactions.

According to Tempo, Google’s Indonesia Managing Director, Randy Jusuf, claims Indonesia’s GMV had increased from USD 10.9 billion in 2017 to USD 12.2 billion in 2018 and predicted that this would reach USD 53 billion by 2025.

This was higher than Malaysia (USD 2 billion), The Philippines (USD 1.5 billion), Singapore (USD 1.8 billion), Thailand (USD 3 billion) and Vietnam (USD 2.8 billion.)

Expo Details

  • Jakarta: at the Jakarta Convention Centre (JCC), Hall A from 21-29 September 2019
  • Denpasar: at Level 21 Mall from 25-29 September 2019.
  • Surabaya: at JX International (former East Java Expo) from 25-29 September 2019.
  • Medan: at Plaza Medan from 25-29 September 2019

 

 


Article source: https://www.gapurabali.com/news/2019/09/18/growing-demand-and-technology-boost-interest-indonesian-property-market/1568768978

 

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