THE ECONOMIC ALREADY IMPROVED ABSORPTION OF OFFICE SPACE SUB-SECTOR INCREASED

Improvement of national economy was predicted to stimulate increase of sales and development of office space sub-sector in 2010. This estimate was conveyed by Research and Analyst Manager of PT Coldwell Banker Commercial, Dwi Novita.

The occupation rate of office buildings in first quarter of 2010 reached 87.5% or increased 1.2% from 86.37% in the previous quarter. While, stock of office buildings remained unchanged if compared to that fourth quarter of 2009, of 6.1 million m2. This was because the business community regained their confidence to do business expansion. Therefore, demand for office buildings was constantly increasing. “Moreover, in the first quarter of 2010 there was no new stock of office buildings so that demand was estimated to double”, Novita said.

Development of office buildings in 2010 was evident in the second quarter. There would be four additional office buildings in prime areas in second quarter of 2010, and one additional building in fourth quarter of 2010. And, two office buildings in secondary area were predicted to be completed in second quarter of 2010.

As a whole, property sector in 2010 would constantly show a positive sentiment. The increase was due to national economic stability. According to Novita, GDP in this quarter increased 3.90% As a result of this, inflation rate decreased. Interest rate of bank loans also decreased that it caused an increase of sales in almost all units of the property sector.

Decline in property industry in 2008 was due to the global crisis that resulted in a quite fast awakening in property sector in 2009 and 2010 because of Indonesia’s economy which was not too much affected by the global crisis. “It can be said that in first quarter of 2010, property sector had recovered from the effect of the global crisis in 2008. Even though it was still slowly awakening, market sentiment had shown a positive figure.

Novita believed that property sales in the second quarter of 2010 would constantly increase. Currently, growth in property sector in the first quarter of 2010 reached 10-15% and was estimated to increase continuously in 2010.