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Property Market Report | H2 2018 Surabaya Apartment

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Multifamily 1536x1040

Overall in 2018, we do not see much improvement in the demand side and price increment of apartments. Even though stimulus has been released by the government, the demand was still soft. The average take-up rate was down slightly by almost 1.0% YOY, whilst the average price grew modestly by 1.1% HOH and 2.2% YOY.

Furthermore, when demand is sluggish, a developer’s priority lies in sustaining sales momentum, which is increasingly being challenged by the current tepid market. Therefore, an attractive product offering with strong value propositions, such as location, concept and clear target market, is critical to boost sales.

Facing the headwinds; developers will need to focus on producing items for first home buyers.


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Property Market Report | H2 2018 Surabaya Apartment

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Related Experts

Ferry Salanto

Senior Associate Director

Research

Jakarta

As Head Research Department, Ferry is in charge in providing property market knowledge for internal purposes and for clients. The scope of sectors covered in the quarterly market report comprises office, apartment, retail, hotel and industrial estate.

In regional tasks, the Heads of Research of each country work together in providing regional market reports covering the Asia Pacific region and globally. Currently Research Department is not only operating as a cost-centre department, as he and his team have been assigned by the Central Bank to provide monthly market information.

On the consulting front, the task involves providing a wide range of advisory services to our clients. Working closely with Consulting Department, we help clientsby preparing feasibility studies to determine whether their property projectsare viable from both financial or marketing aspects. 

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Rizal Gobi

Manager

Research

Jakarta

Rizal Gobi serves as the Research Manager, focusing on residential market. Gobi tracks economic, demographic, property related issues, new policies related to property market and apartment and housing data and utilize the information to produce insightful reports on a recurring basis.

He is proficient in aggregating intelligence from a variety of third party resources and also collects tabulates, and distributes primary research. In this role, Gobi works closely with Advisory Services team, Residential Tenant Representation team, and Capital Market & Investment Services team.

He is familiar with Greater Jakarta area (Bekasi, South Tangerang, Depok, Bogor), Surabaya and East Timor property market.

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