Sinar Mas Land: Until the End of 2019, Investors Still Wait and See

INDUSTRY.co.id - Jakarta, Property industry in Indonesia will still experience sluggishness until the completion of the whole series of political events in late 2019.

This was stated by CEO of Strategic Development and Service of Sinar Mas Land Ishak Chandra in a press conference of the Easy Deal program in Jakarta (7/4/2018).

"The condition of sales will remain sloping, after the election will rise again, whoever the president is elected," Ishak said.

He added, the sluggish property market is not because investors do not have the financial strength. However, before the election, investors often take a cautious stance.

"They will wait and see until 2019," he said.

In addition, he continued, since 2017, the property industry met a new trend. The products sold are in the middle-low segment, in the range of Rp 300-500 million.

"The composition of property sales in 2017, 60 percent is in the middle-low segment," he explained.

According to him, although the products that sell are middle to lower class, buyers remain upper middle class.

"Most buyers are investors, not users or property buyers to use privately. Probably if you buy one, now buy 10," he said.

Based on the condition, Ishak appealed Sinar Mas Land developers more creative product peddling. Moreover, he added, most property of Sinar Mas Land is upper middle segment, with range Rp 2-5 billion.

"Creative to trigger people who have money to want to spend the money," said Isaac.