David-80
August 14th, 2004, 02:54 PM
I just read today in Kompas newspaper, a special report about Indonesian property market, i thought it should be better if i share with you guys who havent read the special pages today.
Main point are
1. Indonesian property since 1999-2004 already have 35,000 unit(s) built, compare that to before 1998, which is 25,000 from 1976-1998
2. the total investment 2003-2004 in property is reaching 110 trillion rupiah or 18 Billion US dollar. (approx)
3. In contrast with the pre-crisis situation, when 90% of the fund in property development are coming from Bank loan, from 1999-2004 the fund is 80% coming from developer main pocket, only 20% is coming from Bank loan.
4. the occupancy rates in Indonesia is 69% but 89% of new apartment already sold.
5. property is creating 997,100 jobs in 2004, compare that to 851,000 jobs in 2003
6. Market property in Surabaya will boom in 10 years from now.
7. 69% Indonesian prefer to have house than apartment
8. there are 43 apartment that would be finish by 2006. I wont list it because its too many, i will double check alvin list and add the new one there.
9. Kompas litbang think that the fund that was gone overseas because of the financial crisis in 1998 are now back in the country.
10. Kompas editor also note that the development of apartment in Indonesia only focusing for upper middle class level, not low class level.
11. The jakarta government reacting by saying that 13,000 units will be built for the low level class.
12 Strata title residence will finish in 2004 (?) and new project, marriot mansion executive.
13. Ciputra says, by 2005 apartment market will reach its peak and developer should know that (there is possibility if office tower will start booming after this)
thats it, i think thats the main point.
cheers
Main point are
1. Indonesian property since 1999-2004 already have 35,000 unit(s) built, compare that to before 1998, which is 25,000 from 1976-1998
2. the total investment 2003-2004 in property is reaching 110 trillion rupiah or 18 Billion US dollar. (approx)
3. In contrast with the pre-crisis situation, when 90% of the fund in property development are coming from Bank loan, from 1999-2004 the fund is 80% coming from developer main pocket, only 20% is coming from Bank loan.
4. the occupancy rates in Indonesia is 69% but 89% of new apartment already sold.
5. property is creating 997,100 jobs in 2004, compare that to 851,000 jobs in 2003
6. Market property in Surabaya will boom in 10 years from now.
7. 69% Indonesian prefer to have house than apartment
8. there are 43 apartment that would be finish by 2006. I wont list it because its too many, i will double check alvin list and add the new one there.
9. Kompas litbang think that the fund that was gone overseas because of the financial crisis in 1998 are now back in the country.
10. Kompas editor also note that the development of apartment in Indonesia only focusing for upper middle class level, not low class level.
11. The jakarta government reacting by saying that 13,000 units will be built for the low level class.
12 Strata title residence will finish in 2004 (?) and new project, marriot mansion executive.
13. Ciputra says, by 2005 apartment market will reach its peak and developer should know that (there is possibility if office tower will start booming after this)
thats it, i think thats the main point.
cheers