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Property Market Report | Q3 2020 Jakarta Apartment

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The relaxed large-scale social restriction (PSBB) regulation has brought some good news for developers. Offline channels can be enacted again, as marketing galleries and show units are allowed to be open. However, sales performance has remained dull since the conditions continue to be uncertain as the daily COVID-19 cases have been increasing and the economic growth in Q2 2020 plummeted - 5.32%. Potential customers have continued to adopt wait-and-see action, although currently it is still a market that favours buyers.

These uncertain conditions create hurdles for developers too. Some developers have decided to hold back sales activities and construction progress on relatively newly introduced projects. Thus, they have to focus on finishing their current projects to survive during this time period. However, we believe after this pandemic ends, the economy will recover and so will the market.


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Property Market Report | Q3 2020 Jakarta 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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