Monday, 25 May 2020 | 12:37 WIB

Property Sector Most Promising Amid Covid-19 Pandemic

Property Sector Most Promising Amid Covid-19 Pandemic (sinarmasland)

JAKARTA, NETRALNEWS.COM - Based on the increasing trend of public housing needs, property is still a sector that will grow amid the current pandemic. Nevertheless, the growth of the property sector will be accompanied by tightening requirements from banks.

Property observer Lukas Bong said that property prices are currently no longer burdensome. Therefore, it is very feasible for people to start buying property.

"Property prices are cheap right now. This is an opportunity for people who want to own a house or want to invest," said Lukas, who is also Chairperson of the Indonesian Real Estate Brokers Association (Arebi).

He continued that the property sector will be a promising sector in economic terms when the COVID-19 pandemic is over.

Lukas rates that now is also the right moment for millennials to have shelter. The traveling habits of millennials can be transferred to investment in property.

"Now many developers are selling property at low prices. Now is the time for millennials who have savings or are able to pay the installments," Lukas said, as quoted from a press statement received by Netralnews in Jakarta, on Thursday (05/14/2020).

Moreover, housing is a primary need for the future.

According to Lukas, in the BSD and Serpong areas, many developers offer landed houses at affordable prices for millennials. There are also a variety of attractive promos.

"In BSD, Serpong, and surrounding areas, there are many choices of property products with good quality and comfortable environment," he said.

According to Lukas, the golden opportunity from the attractive offer program from the developer is a good moment to be utilized. Usually developers now offer lower prices compared to market prices.

"Now prices have moved down 30 percent, it does not include if there are special offers," said Lukas.

Meanwhile, banking industry observer Paul Sutaryono views that during a pandemic like this, the property sector is still classified as very good. In addition, property investment is the safest.

"Of course property is still for the medium and long term," he explained.

According to Paul, the property sector is also exposed to the effects of the COVID-19 coronavirus outbreak. However, in the medium and long term, the sector remains the most prospective, especially middle to upper level housing which is expected to help the property sector growth.

Plus, the restructuring of Housing Loans (KPR) and the government's plan to provide subsidized interest are expected to help in boosting mortgages.

In buying property, customers or the public must pay attention to the reputation and rating of the developer.

"The public must look for developers who have the highest credibility. Take advantage of the developer offer programThe ranking of developers are also very important," he concluded.