Sumber : Bisnis.com | 18 Februari 2026

Indonesia's property sector continues to show slowing performance, with residential prices recorded a steady decline since 2024.

Bank for International Settlements mencatat harga properti residensial di Indonesia anjlok dari 1,46% pada kuartal III/2024 menjadi 0,8% pada kuartal III/2025. Padahal, menurut Masyarakat Profesi Penilai Indonesia (Mappi) pertumbuhan properti Tanah Air pernah mencapai 6–7%.

Pengurus Mappi, Harizul Akbar Nazwar, menilai adanya pergeseran tren dalam pasar properti. Kini, alih-alih bergantung pada ekspektasi, pasar properti justru didorong oleh realitas maupun kebutuhan.

"So, as a primary need, it's certainly sought after. But the market has apparently shifted. From being community-driven to infrastructure-driven," Harizul explained in a recent Factory Hub Bisnis podcast.

Saat ini, masyarakat memilih untuk membeli properti dengan pertimbangan jarak, sarana infrastruktur memadai, hingga kemudahan akses transportasi dibandingkan properti dengan harga mahal sebagai aset investasi.

Harizul menyebut sektor properti merupakan salah satu sektor terpenting bagi Indonesia, mengingat kontribusinya terhadap produk domestik bruto (PDB) mencapai 14–15%. Oleh karena itu, menurutnya, properti harus dilihat sebagai sebuah alat kebijakan bukan hanya sektor ekonomi saja.

It's no surprise, then, that the government is flooding the property sector with various incentives. These enticing policies include the People's Business Credit (KUR Perumahan) program with a 5% government interest subsidy, as well as the extension of the 100% government-borne value-added tax (PPN DTP) incentive until 2027, which applies to homes priced up to IDR 5 billion.

"Although our interest rate trend has also been relatively downward, currently at 4.75 basis points and has decreased by almost 1% compared to last year, it still feels insufficient," Harizul said.

Upaya kebijakan itupun belum menuai hasil. Persoalan sektor properti yang lesu juga disebabkan masalah struktural, seperti pelemahan daya beli hingga ketidakpastian ekonomi.

"But there's one rather interesting paradigm. There's also a trend among young people today who are avoiding home ownership," Harizul added.

Indonesia sendiri masih berhadapan dengan kekurangan alias backlog kepemilikan rumah hingga 15 juta unit. Terkait hal ini, pemerintah menawarkan solusi lewat program 3 juta rumah.

Kendati begitu, kembali lagi, para pengembang khawatir masyarakat tidak tertarik untuk membeli properti yang sudah dibangun. Harizul pun mendorong pemerintah agar tidak hanya membenahi supply side, tetapi juga demand side.

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On the other hand, the middle class is increasingly squeezed because they don't have as solid a foundation as the upper class, but also don't receive as much government assistance as the low-income group (MBR). Yet, this segment is targeted as a potential consumer.

According to Harizul, people, especially the younger generation, consider long-term risks, such as income and ability to repay loans. "These things make people, especially first-home buyers, relatively less confident in deciding whether to buy now or not."

Demi mewujudkan keberhasilan program 3 juta rumah, Harizul mendorong pemerintah agar mengeluarkan kebijakan terukur dengan sosialisasi optimal kepada masyarakat. Sementara itu, dari sisi pengembang, dia menyarankan agar dipersiapkan insentif non tunai untuk masyarakat. Seperti, potongan harga maupun dikonversi menjadi alat rumah tangga bagi kelas menengah ke bawah.