Peek at the Performance of the Property Sector Amid Global Economic Turmoil

Peek at the Performance of the Property Sector Amid Global Economic Turmoil

Source : | 28 May 2024

Jakarta – In the midst of global economic turmoil, the Indonesian economy is still recording relatively good business activity. For the property sector, the performance is more promising, with sales of residential property or new landed houses (primary market) for the first quarter of 2024 growing by 31.16 percent compared to the same period the previous year (yoy).

The data was quoted from the Residential Property Price Survey (SHPR) reported by Bank Indonesia (BI) as explained by Assistant Governor-BI Communications Department Erwin Haryono several days ago. This increase also occurred in all types of houses with percentages of 37.84 percent, 13.57 percent and 48.51 percent for small, medium and large type houses.

This good situation continues to be optimized by developers by presenting products that suit society’s needs and developing trends. With Indonesia’s economic conditions continuing to move positively, especially in the property, banking and building materials industries, there is optimism that this sector will experience a boom again in the coming years.

Several good indicators are supported by interest rate trends that remain friendly and the extension of government-borne tax incentives (VAT DTP).

Paramount Land Director Norman Daulay said, as a developer, we continue to encourage the best property products, especially those that prioritize the concept of green and sustainable development through fast, responsive and technology-based marketing.

“We continue to encourage business activities to present quality, adaptive and innovative property products. This also motivates us to continue to move positively and proactively in advancing the country’s property industry in the long term and contribute to advancing the national economy while supporting environmental and urban development. , and the country,” he said.

Meanwhile, the President Director of Paramount Land, M. Nawawi, said that with its development work for 17 years, Paramount Land has presented various property projects with products that are available through thorough market analysis, quick response to the demands of the times, as well as adaptive and innovative to market needs.

“Currently we are still actively developing quality residential and commercial products in Paramount Gading Serpong, Paramount Petals and Paramount Village Semarang. Gading Serpong is a rapidly developing area with a variety of the best products as well as Paramount Petals which was conceptualized through detailed planning to present quality products with the best infrastructure,” he explained.

This project development activity carried out by Paramount Land succeeded in winning five awards at the Property&Bank Award and Indonesia MyHome Award. Some of the awards won include Developer of the Year, Best Township Development in Tangerang, Best Innovative Commercial Project, Best Luxury Residential, and The Best Luxury Concept Mid-Size Residential in Tangerang. Through a strict selection, Paramount Land was able to win the highest award as Developer of the Year because it was deemed to meet the specified criteria. Among them, consistently and continuously developing various quality products with a variety of complete supporting facilities, carrying out various product innovations, having unique marketing strategies, and recording phenomenal transactions.


Bakrie & Brothers history bg

The Company’s journey began with the story of a growing small trading business, and in more than 75 years has engaged in investment/divestment business, has reached various achievements and delivered the Company to become one of the leading corporations in Indonesia.