Despite Many Challenges, This Year The Property Market Is Improving

By : Ahmad Fadli And Aldi Firhand. A | Monday, February 26 2018 - 20:55 IWST

Illustration of Apartment Development (Ist)
Illustration of Apartment Development (Ist)

INDUSTRY.co.id - Jakarta - Property developers are optimistic that market conditions in 2018 will improve. PT Graha Jasa Ekatama Ichsan Thalib, President Director of PT Graha Jasa Ekatama, said that there will be an improvement in property sales after the market slump last year.

"This is a time of property challenges quite heavy, but we believe in 2018 this graph will start to improve," said Ichsan in Jakarta.

Ichsan confess, the condition of the property market in 2017 is very lethargic. He explained, last year the developers were forced to sell property units at prices lower than prices in 2015 and 2016.

"In 2017 the atmosphere is quite severe, we have never felt the property in Jakarta the price down," said Ichsan.

Even so, Ichsan observes the trend in 2018 will start a positive move for the property sector. He said property with prices below Rp 2 billion would be in demand this year.

Meanwhile, he considered, for property with prices above Rp 2 billion there will be no significant improvement. Therefore, Ichsan has optimism to launch Solterra Place which has price range from Rp 700 million to Rp 2 billion per unit.

With a land area of ​​four hectares, he will begin the development of the first phase of two apartment towers this year. The apartment project located in Pejaten, South Jakarta, was developed by holding Waskita Group.

Ichsan prepares green open land up to one hectare as the main attraction of the project. In addition, he admitted, the location of Solterra Place is quite strategic because it is flanked by two toll road access that is the inner-city toll road and the outer ring road of Jakarta.

Ichsan targets to start building the first tower which consists of 521 units of apartments in April 2018. Development is expected to be completed within the next three years.

"So this option is already measurable by observing the trend of property condition, besides, we hold Waskita so we become more confident our target is sold out one tower this year," said Ichsan.

News Comment

Today's Industry

President Jokowi inaugurates 17 Indonesian Ambassadors Extraordinary and Plenipotentiary at the State Palace in Jakarta (25/10/2021). (Source: YouTube Channel of Presidential Secretariat)

Senin, 25 Oktober 2021 - 20:40 WIB

President Jokowi Inaugurates 17 New Ambassadors

President Joko “Jokowi” Widodo Monday (25/10/2021) at the State Palace, Jakarta, inaugurated 17 Ambassadors Extraordinary and Plenipotentiary (LBBP) of the Republic of Indonesia to Friendly…

President Jokowi receives Letters of Credence from four new Ambassadors of friendly countries, at the Merdeka Palace, Jakarta Province, in September. (Photo by: Presidential Secretariat/Lukas)

Senin, 25 Oktober 2021 - 18:50 WIB

President Jokowi Receives Letters of Credence from Nine New Ambassadors

President Joko “Jokowi” Widodo, on Monday (25/10), received Letters of Credence from nine new Ambassadors Extraordinary and Plenipotentiary (LBPP) of Friendly Countries to the Republic of…

Widodo Sucipto, President Director of PT Hydrotech Metal Indonesia.

Selasa, 19 Oktober 2021 - 15:47 WIB

Hydrotech Metal are Getting Closer to Canada Securities Exchange

PT Hydrotech Metal Indonesia are getting closer to Canada Securities Exchange, after the signing of Share Exchange Agreement with a Canadian company recently. The signing was done virtually…

Vice President Ma’ruf Amin and his spouse Ibu Wury head to Ambon for a working visit, Wednesday (13/10). (Photo by: Vice Presidential Secretariat)

Jumat, 15 Oktober 2021 - 22:10 WIB

VP Ma’ruf Amin to Close 20th PON in Papua

Vice President Ma’ruf Amin, on Friday (15/10), is scheduled to close the 20th National Sports Week (PON) in Papua at the Lukas Enembe Stadium, Jayapura regency. The Vice President, his spouse…

President Joko Widodo and Cabinet Secretary Pramono Anung at Kompas Bajo, Puncak Waringin, Thursday (14/10) afternoon. (Photo by: BPMI/Laily Rachev)

Jumat, 15 Oktober 2021 - 21:32 WIB

President Jokowi Visits Kompas Bajo Creative Hub

Ending his working visit in East Nusa Tenggara Province, President Joko “Jokowi” Widodo and First Lady Ibu Iriana on Thursday (14/10) afternoon took a walk to Kompas Bajo which is located…