House for IDR 300 Million - IDR 1 Billion is the Most Selling

News, 08/01/2020

House for IDR 300 Million - IDR 1 Billion is the Most Selling

Just like in previous years, 2020 will be marked by the dominance of middle-class housing sales with a price range of Rp 300 million to Rp 1 billion. Its composition is around 54.97 percent of total sales. The details, 24.27 percent are controlled by houses with prices ranging from Rp. 300 million to Rp. 500 million, and houses from Rp. 500 million to Rp. 1 billion with a portion of 30.27 percent. Indonesia Property (IPW) Executive Director Watch Ali Tranghanda said that in Jakarta on Monday (1/13/2020). "Prima Donna 2020 is the more landed house with a price below Rp 1 billion," Ali said in Jakarta, Monday (1/13/2020).

Then the trend of home sales in the price range of more than Rp 1 billion reached 10.09 percent. While the trend of low-cost residential sales at prices below Rp 300 million is around 35.37 percent. According to Ali, the cause of the middle class residential market-dominating sales is because the upper-middle class market is already saturated. Since 2009, the majority of developers have targeted the upper-middle-class segment with profiles of most investors. Unlike the profile of middle-class consumers who mostly end users.

"All developers enter the class of Rp 2 billion-Rp 3 billion, but those who buy investors. Now with property prices that are too high, the market moves to end-users," Ali said. Then for the apartment market, which will dominate is the lower class with a price range of Rp 300 million to Rp 500 million. In addition, the lower class market still has great potential. But Ali warned this segment was still vulnerable to policy changes.

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