Observers predicted Indonesia’s property industry
was going to chalk up growth of 15% - 20% in 2013. Today the property sector
made significant performance in reducing unemployment. The annual transaction
value was also remarkable: at national scale it could come to Rp 300 trillion
per year. However, contribution of the property sector to national economic
growth was rated as not significant. Chairman of the Indonesian Real Sector
Association Setyo Maharani stated on Monday (4/2/2003) admitted that the
property sector was not playing their role in economic growth. Comparing the
condition with other countries he said that the property industry in other
countries were playing the role as locomotive of economic growth.
In Indonesia, according to Setyo, the development
had not reached that stage. This was visible in the contribution of the
property sector to GDP which was still less than 10%. Setyo stated that the
property sector had 175 subsectors which made this sector highly comprehensive
with a wide range of by products like shops, marketplaces, manufacturing,
financing, transportation, energy, tourism, telecommunication and education.
The Government, he said, needed to involve associations in the process of law
making to avoid complications during implementation afield. “Our hope is that
the property sector can play greater role in national economic development” Setyo
remarked.
Growth of the domestic property market and the
highly prospective market had made international investors look at Indonesia as
one of the destination sports for their investment. He stated that Jakarta as
Indonesia’s capital city and barometer of economy and business was seen by the
investors as moat promising market for property development, aiming at the middle
and upper market segment. However Setyo made a footnote there were
preconditions to be met before drumming up those investors, i.e. infra
structure building in Jakarta to solve problems like traffic jams.
One of the concepts that could be adopted by DKI
Greeter Jakarta including developers in project building was Transaitr-Oriented
Development projects (TOD). Besides solving traffic jam problems, development of
TOD could also uplift property value in the related regions which would promise
long term high return investment.
Setyo also estimated the domestic property market in
2013 would benefit greatly from the favorable macro-economic condition where
people's purchasing power was high due to increased income of the middle and
upper group plus prosperous investment climate. The market condition of
property’s subsectors in 2013 such as office or commercial canters was
predicted to grow in terms of sales up to 12% -18% of total capitalization
projected at Rp 235 trillion.
Meanwhile based on analysis of some property consultants
accumulation of construction projects underway since end of 2012 last were at
finishing stags so they had the potential of supplying additional of 8,626 units
of apartment units in 2013 - while annual supply for 2012 had reached 22,483 units
or 41% higher then supply growth compared to supply growth of 2011. In case of
office space in Jakarta in 2013 projection by some consultant companies showed
there were positive signals of growth.
The trend of positive growth in 2013 was driven by
increased demand from abroad combined in the banking industry, oil industry and
mining, and telecommunication. The growth was based on demand for office
buildings of good quality at global level mostly in the main cities of the
world which were consistently demanded by users or investors.
Business News - February 08,2013
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