Some developers started to introduce their new projects in Q1 2021. Unfortunately, the demand growth in the market remains sluggish, making it hard to revise the asking prices. In addition, the government set out some stimuli for the residential property sector, including the property relaxation norm from the Central Bank coupled with the foreign ownership regulation, which will bode well for developers and property demand. In addition, the VAT waiver will be beneficial for upgraders as well as developers who still have unsold inventories. All in all, we are of the view this year will remain a buyer’s market, and there will be a gradual yet moderate recovery in the market.
Senior Associate Director
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.
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.