In the middle of this semester, the government relaxed some regulations related to the residential sector. At the same time, many developers have been removing their promotional programmes. As a result, the apartment market in Surabaya remains sluggish, as consumers cannot see the benefit of the government’s measures.
We hope that those developers reconsider their current sales strategy. It is much better if developers can cooperate with the government in providing some incentives to consumers to boost their sales and create a rebound in the market. If this current situation continues, we predict a continuation of the current gloomy situation.
