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Property Market Report | H2 2019 Surabaya Apartment

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The overall apartment market during 2019 was at a slack pace both demand and price side. Either existing or under-construction projects experienced a decline by 1.3% and 5.6% compared to 2018 performance. New apartment projects from reputable developers are still appealing for investors-type of buyers, while sales of others seem to be tough.

With a slower economic projection in 2020, apartment market outlook might be attributable to low purchasing power and consumers’ low appetite to buy. Given the headwinds, developers should focus on end-users targeting at first-time home buyers. Furthermore, affordable products which is less than IDR1.5 billion are still acceptable.


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Property Market Report | H2 2019 Surabaya Apartment

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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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