Jakarta, CNBC Indonesia – The Covid-19 pandemic has severely hit the property sector for the past 1.5 years. In addition to the many rich people who sell landed houses in elite areas such as Menteng, Pondok Indah, Kemang to Kelapa Gading, it turns out that there are also many people who sell apartment assets. In fact, the number of apartments being sold is greater than that of landed houses.
“There are many apartments, many apartments are sold because the rental occupancy rate has dropped considerably, while the owners pay service charge, so many are selling ready-made apartments,” said DPD Chairman of the DKI Jakarta Indonesian Real Estate Brokers Association (AREBI) Clement Francis in Profit. CNBC Indonesia, Wednesday (7/7/21).
Unfortunately, the fate of the public’s interest in purchasing upper segment apartments is also not so great. If you compare landed houses and apartments, nowadays people are more inclined to choose landed houses, even then the market is not large because many choose to hold cash.
“Tanded houses are still in demand, because one of the reasons for the future is to buy for their children, so a lot can be invested in landed houses,” said Clement.
When more potential investors choose landed houses, the fate of the apartment will be more unlucky. Moreover, it is estimated that there will be a lot of additional new apartment stocks in the future, especially considering the massive apartment development in the area transit oriented development (TOD). On the other hand, the fate of apartments still has to be beaten by competition with landed houses whose market is also not large.
“What is certain is that with the pandemic, there are not many potential buyers, while there are many properties that are sold, more than demand. Between supply and demand very different when compared to 2017-2018, there are far more fans than 2020,” said Clement.
The supply of luxury apartments for sale in Jakarta is indeed very abundant. On the Lamudi website, for example, there were 23,203 offers from sellers with the keyword “Luxury Apartments for Sale in Jakarta”.
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