26 April 2024
This two bedroom house was built in just 18 hours
KOMPAS.com - One of the advantages of houses made with 3D printing technology is that work is fast and affordable.
Recently, Portuguese property manufacturer, Havelar, has just produced its first 3D printed house which can be completed in just 18 hours. Located in the Greater Porto area of Portugal's second largest city, the two-bedroom residence has an area of 80 square meters.
The house was built using COBOD's BOD2 printer, which is also used to produce Europe's largest 3D printed building. According to COBOD, one housing unit from Havelar can be produced at a price of 1,500 Euros or IDR 26.1 million per square meter.
Of course the price is cheaper compared to house prices in Porto which reach 3,104 Euros or Rp. 53.9 million per square meter. This lower price is largely due to the speed of construction offered by 3D printing technology.
The construction of the house is carried out by a 3D printer which produces a mixture according to the blueprint to build the basic structure of the house. Even though the construction of the frame of the house only took 18 hours, the craftsmen were involved in installing the windows, doors, panels, roof and everything else that was needed.
Including the labor time, the entire project took less than two months to complete.
Havelar's house is a simple one-story residence. The interior is organized around the kitchen and dining area. Apart from the two bedrooms, there is also a living room and bathroom.
Havelar himself hopes to increase production of 3D printed houses and contribute to reducing carbon emissions by using alternative construction materials such as soil and straw.
https://www.kompas.com/properti/read/2024/04/26/135410521/rumah-dengan-dua-kamar-ini-dibangun-cuma-18-jam
Recently, Portuguese property manufacturer, Havelar, has just produced its first 3D printed house which can be completed in just 18 hours. Located in the Greater Porto area of Portugal's second largest city, the two-bedroom residence has an area of 80 square meters.
The house was built using COBOD's BOD2 printer, which is also used to produce Europe's largest 3D printed building. According to COBOD, one housing unit from Havelar can be produced at a price of 1,500 Euros or IDR 26.1 million per square meter.
Of course the price is cheaper compared to house prices in Porto which reach 3,104 Euros or Rp. 53.9 million per square meter. This lower price is largely due to the speed of construction offered by 3D printing technology.
The construction of the house is carried out by a 3D printer which produces a mixture according to the blueprint to build the basic structure of the house. Even though the construction of the frame of the house only took 18 hours, the craftsmen were involved in installing the windows, doors, panels, roof and everything else that was needed.
Including the labor time, the entire project took less than two months to complete.
Havelar's house is a simple one-story residence. The interior is organized around the kitchen and dining area. Apart from the two bedrooms, there is also a living room and bathroom.
Havelar himself hopes to increase production of 3D printed houses and contribute to reducing carbon emissions by using alternative construction materials such as soil and straw.
https://www.kompas.com/properti/read/2024/04/26/135410521/rumah-dengan-dua-kamar-ini-dibangun-cuma-18-jam
24 April 2024
Bank Indonesia Decides Bi-Rate to Increase 25 Bps to 6.25%
Jakarta, Properti Indonesia - The Bank Indonesia Board of Governors (RDG) meeting which was held on 23-24 April 2024 finally decided to increase the BI-Rate by 25 bps to 6.25%, the Deposit Facility interest rate by 25 bps to 5.50%, and the Lending Facility interest rate was 25 bps to 7.00%.
In its statement, Wednesday (24/4), Bank Indonesia said that the increase in interest rates was to strengthen the stability of the Rupiah exchange rate from the impact of worsening global risks and as a pre-emptive and forward looking step to ensure inflation remains within the target of 2.5 ± 1% in 2024 and 2025 in line with a pro-stability monetary policy stance.
Meanwhile, macroprudential policies and the payment system remain pro-growth to support sustainable economic growth. According to BI, loose macroprudential policies continue to be pursued to encourage banking credit/financing to businesses and households.
Meanwhile, payment system policies are directed at strengthening the reliability of the payment system infrastructure and industrial structure, as well as expanding acceptance of payment system digitalization.
To maintain stability and support sustainable economic growth amidst increasing global financial market uncertainty, Bank Indonesia continues to strengthen the mix of monetary, macroprudential and payment system policies.
https://propertiindonesia.id/post/bank-indonesia-putuskan-bi-rate-naik-25-bps-menjadi-625
In its statement, Wednesday (24/4), Bank Indonesia said that the increase in interest rates was to strengthen the stability of the Rupiah exchange rate from the impact of worsening global risks and as a pre-emptive and forward looking step to ensure inflation remains within the target of 2.5 ± 1% in 2024 and 2025 in line with a pro-stability monetary policy stance.
Meanwhile, macroprudential policies and the payment system remain pro-growth to support sustainable economic growth. According to BI, loose macroprudential policies continue to be pursued to encourage banking credit/financing to businesses and households.
Meanwhile, payment system policies are directed at strengthening the reliability of the payment system infrastructure and industrial structure, as well as expanding acceptance of payment system digitalization.
To maintain stability and support sustainable economic growth amidst increasing global financial market uncertainty, Bank Indonesia continues to strengthen the mix of monetary, macroprudential and payment system policies.
https://propertiindonesia.id/post/bank-indonesia-putuskan-bi-rate-naik-25-bps-menjadi-625
13 March 2024
Melbourne Property Expo (23 March 2024)
“The City of Melbourne is anticipated to have 139,000 new residents call Melbourne their home by 2040, creating strong demand for new apartment development within the city.” - URBIS Report (June 2023)
Please come to the Melbourne Property Expo.
Only at the Ritz-Carlton Hotel, 8th floor of Pacific Place, Jakarta.
Saturday 23 March 2024.
Starting from 11 am - 7 pm.
Many project choices in the CBD and surrounding areas. Most units are finished and ready to move in. Can be surveyed directly.
We help with the process right up to handing over the unit.
Loans up to 70% for 25 years. Partial and early repayment without penalty.
Currently, Melbourne CBD is experiencing a shortage of housing supply as students and employees return from abroad after Covid-19 ends.
Developers are still waiting for the right moment to market their new projects. This is due to the current high inflation which has caused the prices of building materials to rise.
Luckily, most of the projects are completed, so they still use the old prices. This is an added value for today's buyers as they get a new property at an old price.
Come on... take action immediately.
See you at the Ritz-Carlton Hotel...
02 March 2024
Record high: Australian home prices jump as property market shakes off summer slowdown
Home price growth accelerated in February, with strong buyer demand soaking up the influx of new properties that hit the market over summer.
The property market has brushed off its summer slowdown, with values rising across most of the country in February and prices breaking records in four capitals.
The latest PropTrack Home Price Index showed the national median home value jumped 0.45% last month, while the combined capital city median climbed 0.48%.
Australia’s median home value is up 6.15% over the past year while capital city prices have grown a little faster, sitting 7.06% higher than this time last year.
PropTrack senior economist Eleanor Creagh said the slowdown in home price growth at the end of last year has reversed and prices have hit a new peak, despite rising listing volumes.
"More homes have hit the market this year, but demand has kept up with that increase," she said.
Strong population growth, tight rental markets and the chance of interest rate cuts have bolstered demand, Ms Creagh said.
"The expectation that interest rates will fall in the second half of 2024 is likely providing a positive tailwind for activity," she said.
Data released on Wednesday showed the annual rate of inflation remained steady at 3.4% in January.
While this is still outside the Reserve Bank’s 2-3% target range, the flat result increases the likelihood that rates have peaked, with the next rate move likely to be a cut.
Brisbane is now as expensive as Melbourne
Of the capital cities, Adelaide recorded the strongest growth in February, followed by Perth and Sydney.
But in Brisbane, remarkable growth has pushed up the city’s median home value to equal that of Melbourne.
Brisbane home values grew 12.16% over the past year, compared with 1.33% growth in Melbourne.
The stark difference in growth rates means Brisbane has now caught up, with both cities recording a median home value of 7,000 – tied for third place behind Sydney, Australia’s most expensive city, and second-priciest Canberra.
Further price rises are expected in 2024
Despite more homes being listed for sale and rising prices making property less affordable, markets are expected to keep steaming ahead in 2024.
A slowdown in construction has hampered the supply of new housing, Ms Creagh said, concentrating demand for existing properties.
Meanwhile, potential rate cuts could boost buyers’ borrowing capacities, giving them more money to spend.
"Looking ahead, the positive tailwinds for housing demand and a slowdown in the completion of new homes are likely to offset the impact of reduced affordability and a slowing economy, supporting prices," Ms Creagh said.
"As a result, prices are expected to lift further in the months ahead."
To continue reading, please go to:
https://www.realestate.com.au/news/record-high-australian-home-prices-jump-as-property-market-shakes-off-summer-slowdown/
The property market has brushed off its summer slowdown, with values rising across most of the country in February and prices breaking records in four capitals.
The latest PropTrack Home Price Index showed the national median home value jumped 0.45% last month, while the combined capital city median climbed 0.48%.
Australia’s median home value is up 6.15% over the past year while capital city prices have grown a little faster, sitting 7.06% higher than this time last year.
PropTrack senior economist Eleanor Creagh said the slowdown in home price growth at the end of last year has reversed and prices have hit a new peak, despite rising listing volumes.
"More homes have hit the market this year, but demand has kept up with that increase," she said.
Strong population growth, tight rental markets and the chance of interest rate cuts have bolstered demand, Ms Creagh said.
"The expectation that interest rates will fall in the second half of 2024 is likely providing a positive tailwind for activity," she said.
Data released on Wednesday showed the annual rate of inflation remained steady at 3.4% in January.
While this is still outside the Reserve Bank’s 2-3% target range, the flat result increases the likelihood that rates have peaked, with the next rate move likely to be a cut.
Brisbane is now as expensive as Melbourne
Of the capital cities, Adelaide recorded the strongest growth in February, followed by Perth and Sydney.
But in Brisbane, remarkable growth has pushed up the city’s median home value to equal that of Melbourne.
Brisbane home values grew 12.16% over the past year, compared with 1.33% growth in Melbourne.
The stark difference in growth rates means Brisbane has now caught up, with both cities recording a median home value of 7,000 – tied for third place behind Sydney, Australia’s most expensive city, and second-priciest Canberra.
Further price rises are expected in 2024
Despite more homes being listed for sale and rising prices making property less affordable, markets are expected to keep steaming ahead in 2024.
A slowdown in construction has hampered the supply of new housing, Ms Creagh said, concentrating demand for existing properties.
Meanwhile, potential rate cuts could boost buyers’ borrowing capacities, giving them more money to spend.
"Looking ahead, the positive tailwinds for housing demand and a slowdown in the completion of new homes are likely to offset the impact of reduced affordability and a slowing economy, supporting prices," Ms Creagh said.
"As a result, prices are expected to lift further in the months ahead."
To continue reading, please go to:
https://www.realestate.com.au/news/record-high-australian-home-prices-jump-as-property-market-shakes-off-summer-slowdown/
21 February 2024
Jakarta is increasingly flooding rental apartments, what are the signs?
Jakarta, CNBC Indonesia - The condition of apartments in DKI Jakarta is starting to improve, as can be seen from Knight Frank's Jakarta Property Highlight H2 2023 research where the occupancy rate is around 63.04% or up 1.88% from the previous semester. On an annual basis, the average apartment rental price in the Serviced Apartment segment or rental apartments increases by up to 5%.
This condition makes some developers quite confident in their plans to release new rental apartments in the next five years. This year is the highest release figure, namely around 40%.
"At least 11% of serviced apartment projects have increased rental prices and as many as 1,879 new units will enter the market by 2028. And this year 792 new units will enter the market in 2024," said Knight Frank Indonesia Senior Research Advisor Syarifah Syaukat in a Press Conference, Wednesday ( 21/2/2024).
It is estimated that the average annual occupancy will increase by 2.05%, while the increase in rental prices on a HoH or semester-to-semester basis will increase by 2.9%.
Currently there are 2 new projects completed in the Gatot Subroto and Menteng areas. Occupancy of rental apartments in the CBD area was corrected by around 0.9% due to the addition of new projects entering. However, the Christmas and New Year holidays have a positive impact on increasing occupancy from daily stays or short-term rentals.
"Expatriates and corporates are long term tenants in the apartment rental space in Jakarta. Generally they come from expatriates from Asia, Japan, South Korea, India, China. Several operators are still providing promotions and negotiable prices. Repurposing will color the apartment rental trend in the second semester of 2023," said Syarifah.
https://www.cnbcindonesia.com/news/20240221131835-4-516369/apartemen-sewa-makin-banjiri-jakarta-tanda-tanda-apa
This condition makes some developers quite confident in their plans to release new rental apartments in the next five years. This year is the highest release figure, namely around 40%.
"At least 11% of serviced apartment projects have increased rental prices and as many as 1,879 new units will enter the market by 2028. And this year 792 new units will enter the market in 2024," said Knight Frank Indonesia Senior Research Advisor Syarifah Syaukat in a Press Conference, Wednesday ( 21/2/2024).
It is estimated that the average annual occupancy will increase by 2.05%, while the increase in rental prices on a HoH or semester-to-semester basis will increase by 2.9%.
Currently there are 2 new projects completed in the Gatot Subroto and Menteng areas. Occupancy of rental apartments in the CBD area was corrected by around 0.9% due to the addition of new projects entering. However, the Christmas and New Year holidays have a positive impact on increasing occupancy from daily stays or short-term rentals.
"Expatriates and corporates are long term tenants in the apartment rental space in Jakarta. Generally they come from expatriates from Asia, Japan, South Korea, India, China. Several operators are still providing promotions and negotiable prices. Repurposing will color the apartment rental trend in the second semester of 2023," said Syarifah.
https://www.cnbcindonesia.com/news/20240221131835-4-516369/apartemen-sewa-makin-banjiri-jakarta-tanda-tanda-apa
20 February 2024
5 Factors Causing House Prices to Fall, Important to Note!
Jakarta - When planning to sell a house, we want the house we are selling to sell quickly at a price that meets expectations. Of course, everyone wants the house to be sold at a high price.
However, you need to pay attention, there are things that can make the selling price of a house go down. Anything?
The following are factors that cause house selling prices to fall.
1. The physical structure of the house is damaged
The first thing that causes house prices to fall is the damaged physical structure of the house. Buying a damaged building will make potential buyers think twice because they have to do renovations too.
"House prices are going down, you can see whether it is still suitable for use or whether there is something that needs to be renovated, for example the kitchen or dining room, for example if it needs major renovation, the selling value will go down," said Country Director of Ray White Indonesia, Johann Boyke Nurtanio to detikcom, Thursday (9/11/2023)
So, to avoid falling house prices, home owners can carry out renovations first to increase house prices.
2. See Who Occupied the House Previously
The next step is to see who has occupied the house you want to sell. It turns out that the previous owner of the house can also influence the selling price of the house.
"We can see whether the house has been occupied by anyone before, for example someone who has a negative connotation, such as a house that was a site of corruption or someone who died there. That could make the selling price (of the house) much lower," he said.
3. Difficult access to the house
Lastly is home access. Houses that have difficult access, for example far from the market, far from schools, or far from hospitals, can cause the selling price of the house to fall.
"Access is whether it is difficult to get everywhere or not. That also determines whether the value can be high or not. If we have difficulty accessing public transportation or whatever, then the selling value could be low," he concluded.
4. Red Flag Locations
Location is the most important factor for a property, especially a house. So it is clear that location is one of the determinants of house prices. Well, house prices can go down if the location is in bad places, aka red flags. For example, some red flag places for homes include: close to cemeteries, close to power lines, close to train tracks, near rubbish dumps and other locations that have a high risk.
5. Flooded Area
Houses in flood areas are also not the main choice when people look for a house. So that houses in flood areas can reduce prices.
https://www.detik.com/properti/tips-dan-panduan/d-7200898/5-produk-pengebab-harga-rumah-turun-cepat-diadata
However, you need to pay attention, there are things that can make the selling price of a house go down. Anything?
The following are factors that cause house selling prices to fall.
1. The physical structure of the house is damaged
The first thing that causes house prices to fall is the damaged physical structure of the house. Buying a damaged building will make potential buyers think twice because they have to do renovations too.
"House prices are going down, you can see whether it is still suitable for use or whether there is something that needs to be renovated, for example the kitchen or dining room, for example if it needs major renovation, the selling value will go down," said Country Director of Ray White Indonesia, Johann Boyke Nurtanio to detikcom, Thursday (9/11/2023)
So, to avoid falling house prices, home owners can carry out renovations first to increase house prices.
2. See Who Occupied the House Previously
The next step is to see who has occupied the house you want to sell. It turns out that the previous owner of the house can also influence the selling price of the house.
"We can see whether the house has been occupied by anyone before, for example someone who has a negative connotation, such as a house that was a site of corruption or someone who died there. That could make the selling price (of the house) much lower," he said.
3. Difficult access to the house
Lastly is home access. Houses that have difficult access, for example far from the market, far from schools, or far from hospitals, can cause the selling price of the house to fall.
"Access is whether it is difficult to get everywhere or not. That also determines whether the value can be high or not. If we have difficulty accessing public transportation or whatever, then the selling value could be low," he concluded.
4. Red Flag Locations
Location is the most important factor for a property, especially a house. So it is clear that location is one of the determinants of house prices. Well, house prices can go down if the location is in bad places, aka red flags. For example, some red flag places for homes include: close to cemeteries, close to power lines, close to train tracks, near rubbish dumps and other locations that have a high risk.
5. Flooded Area
Houses in flood areas are also not the main choice when people look for a house. So that houses in flood areas can reduce prices.
https://www.detik.com/properti/tips-dan-panduan/d-7200898/5-produk-pengebab-harga-rumah-turun-cepat-diadata
22 January 2024
Sydney home prices to skyrocket ‘by 23 per cent’
Sydney home prices are expected to grow by as much as 23 per cent over three years, with one neglected part of the market to boom the most.
Sydney home prices are expected to grow by as much as 23 per cent over three years, according to new data.
The report from property industry analyst and economic forecaster Oxford Economics Australia predicts relatively slow home price growth will persist across Sydney for the remainder of the 2024 financial year before gaining pace in both FY25 and FY26.
According to the Residential Property Prospects report, which forecasts property prices and the rental market to 2026, unit price growth in Sydney will outpace that of house prices through to the end of June 2026.
Oxford Economics expects unit prices will grow by 23.4 per cent over that period, with house prices expected to rise by 15.8 per cent.
That would take Core Logic’s Sydney’s media unit value past the m figure to ,029,869 and the median house price past the .5m mark to .621930.
“Capital city performances have diverged in recent months. Total listings have risen in Melbourne and Sydney, a trend we expect will continue in coming quarters, acting to slow price growth,” said Maree Kilroy, report author and Senior Economist at Oxford Economics Australia.
“Tailwinds will serve to propel prices in Perth, Brisbane, and Adelaide. Low levels of advertised listings and affordability in pockets will prop up prices in these cities next year. “Interest rate cuts from late 2024 should boost credit availability, accelerating broad price growth once again.”
In regards to Sydney: “Increasing an estimated 10.3 per cent over 2023, Sydney’s median house price is estimated to have exceeded its previous peak in the December quarter 2023, reaching .6 million,” the Oxford Economics Australia report reads.
“However, the pace of growth is slowing; a function of an additional interest rate lift in November and rising total listing volumes. Fading demand stamina is showing through in softening auction clearance rates.”
The report from Oxford Economics Australia expects this trend to continue through early 2024, resulting in house price growth of only 3.3 per cent, and 5.2 per cent for units in FY2024.
“With the context of a growing dwelling stock deficiency, the return of interest rate cuts will drive the next acceleration of price growth from late-2024 onwards,” said Kilroy.
Oxford Economics Australia expects the relatively cheaper price point of units to help back stronger growth near term. Sydney’s median house and unit price are forecast to increase 5.9 per cent and 8.3 per cent per annumc respectively over the two years to June 2026.
Moves made by the Albanese Government, including increased taxes for foreign purchases and doubling the vacancy fee for homes owned by overseas investors, is expected to have a modest impact upon the Sydney real estate market and be confined to specific Sydney postcodes, many at the top end of the market.
According to the January’s PropTrack Home Price Index, “ “Several factors contributed to the slowdown in home prices over the last quarter of 2023.
“There was an additional interest rate rise as well as an increase in the supply of homes listed for sale, which provided buyers more choice and helped to alleviate competition.
“Despite regional areas experiencing higher growth in December, combined capital city areas were the clear outperformers in 2023, with prices up 6.44% over the course of the year versus 3.2% in the rest of state markets.
“Even though recent months have seen a rise in the number of properties listed for sale, overall supply remains relatively constrained, particularly in Perth and Brisbane. This has been a key contributor to price rises in these markets.
“Despite the cool down in capital city prices seen over December, prices in 2024 will be supported by population growth and what looks likely to be a more stable interest rate environment.”
https://www.news.com.au/finance/real-estate/buying/sydney-home-prices-to-skyrocket-by-23-per-cent/news-story/56cfee474a3c01a97d844212f45491be
Sydney home prices are expected to grow by as much as 23 per cent over three years, according to new data.
The report from property industry analyst and economic forecaster Oxford Economics Australia predicts relatively slow home price growth will persist across Sydney for the remainder of the 2024 financial year before gaining pace in both FY25 and FY26.
According to the Residential Property Prospects report, which forecasts property prices and the rental market to 2026, unit price growth in Sydney will outpace that of house prices through to the end of June 2026.
Oxford Economics expects unit prices will grow by 23.4 per cent over that period, with house prices expected to rise by 15.8 per cent.
That would take Core Logic’s Sydney’s media unit value past the m figure to ,029,869 and the median house price past the .5m mark to .621930.
“Capital city performances have diverged in recent months. Total listings have risen in Melbourne and Sydney, a trend we expect will continue in coming quarters, acting to slow price growth,” said Maree Kilroy, report author and Senior Economist at Oxford Economics Australia.
“Tailwinds will serve to propel prices in Perth, Brisbane, and Adelaide. Low levels of advertised listings and affordability in pockets will prop up prices in these cities next year. “Interest rate cuts from late 2024 should boost credit availability, accelerating broad price growth once again.”
In regards to Sydney: “Increasing an estimated 10.3 per cent over 2023, Sydney’s median house price is estimated to have exceeded its previous peak in the December quarter 2023, reaching .6 million,” the Oxford Economics Australia report reads.
“However, the pace of growth is slowing; a function of an additional interest rate lift in November and rising total listing volumes. Fading demand stamina is showing through in softening auction clearance rates.”
The report from Oxford Economics Australia expects this trend to continue through early 2024, resulting in house price growth of only 3.3 per cent, and 5.2 per cent for units in FY2024.
“With the context of a growing dwelling stock deficiency, the return of interest rate cuts will drive the next acceleration of price growth from late-2024 onwards,” said Kilroy.
Oxford Economics Australia expects the relatively cheaper price point of units to help back stronger growth near term. Sydney’s median house and unit price are forecast to increase 5.9 per cent and 8.3 per cent per annumc respectively over the two years to June 2026.
Moves made by the Albanese Government, including increased taxes for foreign purchases and doubling the vacancy fee for homes owned by overseas investors, is expected to have a modest impact upon the Sydney real estate market and be confined to specific Sydney postcodes, many at the top end of the market.
According to the January’s PropTrack Home Price Index, “ “Several factors contributed to the slowdown in home prices over the last quarter of 2023.
“There was an additional interest rate rise as well as an increase in the supply of homes listed for sale, which provided buyers more choice and helped to alleviate competition.
“Despite regional areas experiencing higher growth in December, combined capital city areas were the clear outperformers in 2023, with prices up 6.44% over the course of the year versus 3.2% in the rest of state markets.
“Even though recent months have seen a rise in the number of properties listed for sale, overall supply remains relatively constrained, particularly in Perth and Brisbane. This has been a key contributor to price rises in these markets.
“Despite the cool down in capital city prices seen over December, prices in 2024 will be supported by population growth and what looks likely to be a more stable interest rate environment.”
https://www.news.com.au/finance/real-estate/buying/sydney-home-prices-to-skyrocket-by-23-per-cent/news-story/56cfee474a3c01a97d844212f45491be
10 January 2024
Consultant Reveals the Fate of Property in DKI If the Capital is Moved to IKN
Jakarta, CNN Indonesia -- Colliers Indonesia as a property consultant said that the development of the National Capital City (IKN) of the Archipelago has the potential to change property prices in Jakarta and create opportunities for changing the function of ministry/institution (K/L) buildings into residences.
Colliers Head of Advisory Services Monica Koesnovagril said that her party is still not sure whether property in Jakarta will be cheap if the center of government shifts to IKN. He emphasized that everything still depends on supply and demand in Jakarta.
"Even if that happens (property prices in Jakarta become cheaper or more expensive), it won't be in the short term. And if we are talking about Jakarta (property) prices will go up or down, that's the supply and demand that exists in Jakarta. So, price movements "You could say it doesn't depend on IKN," explained Monica in the virtual Fourth Quarter 2023 Media Briefing, Wednesday (10/1).
"So, we still can't say whether the price will go up or down. At least in the short term, it still depends on the current market," he added.
Colliers also discussed the opportunity to transform K/L buildings in Jakarta into residential areas. Monica said there are three main factors that need to be considered to make this idea a reality.
First, regulations. However, according to him, currently the urban planning of the abandoned ministry buildings is for offices.
Second, zoning or area mapping. Monica said the zoning of the ministry/institution building is for government offices, so it needs to be rethought if it wants to be converted into a residence.
Third, technically change it. He said there are many considerations that need to be studied carefully if you want to make the building a residence for residents.
"So, the answer is that it's not that easy if it is directly converted into a residence," he said.
"In fact, if for example you still want to (become) an office, there are also considerations from a regulatory perspective and you have to also calculate what the space requirements are. Indeed, there are plans like that, but it feels like it will be gradual because the supply at IKN is also gradual ," added Monica.
Monica also emphasized that the transfer of government officials to IKN would not be immediate and leave Jakarta empty. He said everything would be done in stages.
However, he did not rule out the option of turning the building into a residence. Although, its location in the middle of the city will be a special consideration.
https://www.cnnindonesia.com/economic/20240110132832-92-1047632/konsultan-besar-nasib-properti-di-dki-kalau-ibu-kota-di moved-ke-ikn
Colliers Head of Advisory Services Monica Koesnovagril said that her party is still not sure whether property in Jakarta will be cheap if the center of government shifts to IKN. He emphasized that everything still depends on supply and demand in Jakarta.
"Even if that happens (property prices in Jakarta become cheaper or more expensive), it won't be in the short term. And if we are talking about Jakarta (property) prices will go up or down, that's the supply and demand that exists in Jakarta. So, price movements "You could say it doesn't depend on IKN," explained Monica in the virtual Fourth Quarter 2023 Media Briefing, Wednesday (10/1).
"So, we still can't say whether the price will go up or down. At least in the short term, it still depends on the current market," he added.
Colliers also discussed the opportunity to transform K/L buildings in Jakarta into residential areas. Monica said there are three main factors that need to be considered to make this idea a reality.
First, regulations. However, according to him, currently the urban planning of the abandoned ministry buildings is for offices.
Second, zoning or area mapping. Monica said the zoning of the ministry/institution building is for government offices, so it needs to be rethought if it wants to be converted into a residence.
Third, technically change it. He said there are many considerations that need to be studied carefully if you want to make the building a residence for residents.
"So, the answer is that it's not that easy if it is directly converted into a residence," he said.
"In fact, if for example you still want to (become) an office, there are also considerations from a regulatory perspective and you have to also calculate what the space requirements are. Indeed, there are plans like that, but it feels like it will be gradual because the supply at IKN is also gradual ," added Monica.
Monica also emphasized that the transfer of government officials to IKN would not be immediate and leave Jakarta empty. He said everything would be done in stages.
However, he did not rule out the option of turning the building into a residence. Although, its location in the middle of the city will be a special consideration.
https://www.cnnindonesia.com/economic/20240110132832-92-1047632/konsultan-besar-nasib-properti-di-dki-kalau-ibu-kota-di moved-ke-ikn
18 December 2023
Visible progress of upcoming RTS Link draws S’porean, Malaysian buyers to JB properties
JOHOR BAHRU – When Chinese developer R&F launched its second phase of sales for the Princess Cove condominium in Johor Bahru in 2018, it sold an estimated 30 per cent of its nearly 3,800 apartments by the end of the year.
The company expected sales momentum to continue for the project, which is less than 10 minutes away from the JB checkpoint on foot.
But the Covid-19 pandemic struck, forcing the closure of international borders, including the land crossings between Johor and Singapore.
“During the pandemic, there was some despair, especially when the borders were closed. (Property) prices also fell to lower points,” said R&F deputy general manager Xu Jie.
But in 2023, sales for the project picked up significantly, especially during the April to September period, which saw five times more transactions than in the same period in 2022, Mr Xu said.
He added that the heightened interest is largely due to the Rapid Transit System (RTS) Link, with its rail viaduct and trestle bridge now taking shape across the Strait of Johor.
“Just taking a glance at the sea, the RTS’ construction is clearly visible,” said Mr Xu, adding that the obvious progress is a point of assurance for buyers.
The RTS Link is a 4km rail shuttle service set to be operational by end-2026, with a capacity to carry 10,000 passengers every hour in each direction between Woodlands North MRT station in Singapore and Bukit Chagar in JB.
Construction of the rail link, which began in November 2020, crossed at least the 50 per cent mark on both sides by November 2023.
It is expected to ease congestion plaguing the Causeway, which is used by hundreds of thousands daily.
That optimism appears to be widely shared among buyers of properties around the RTS station, which is being built next to the current immigration complex in JB.
Mr Xu said around 40 per cent of Princess Cove buyers are Singaporeans, many of whom were keen to invest in JB properties after Singapore hiked the additional buyer’s stamp duty again in April, making it pricier to own two or more properties in the Republic.
The next biggest groups of buyers are from Malaysia, China and Taiwan, he added.
“We are in a window of opportunity,” said Mr Xu.
“Property prices will only get higher the closer it gets to the completion of the RTS.”
To continue reading, please go to link below:
https://www.straitstimes.com/asia/se-asia/visible-progress-of-upcoming-rts-link-draws-s-porean-malaysian-buyers-to-jb-properties
The company expected sales momentum to continue for the project, which is less than 10 minutes away from the JB checkpoint on foot.
But the Covid-19 pandemic struck, forcing the closure of international borders, including the land crossings between Johor and Singapore.
“During the pandemic, there was some despair, especially when the borders were closed. (Property) prices also fell to lower points,” said R&F deputy general manager Xu Jie.
But in 2023, sales for the project picked up significantly, especially during the April to September period, which saw five times more transactions than in the same period in 2022, Mr Xu said.
He added that the heightened interest is largely due to the Rapid Transit System (RTS) Link, with its rail viaduct and trestle bridge now taking shape across the Strait of Johor.
“Just taking a glance at the sea, the RTS’ construction is clearly visible,” said Mr Xu, adding that the obvious progress is a point of assurance for buyers.
The RTS Link is a 4km rail shuttle service set to be operational by end-2026, with a capacity to carry 10,000 passengers every hour in each direction between Woodlands North MRT station in Singapore and Bukit Chagar in JB.
Construction of the rail link, which began in November 2020, crossed at least the 50 per cent mark on both sides by November 2023.
It is expected to ease congestion plaguing the Causeway, which is used by hundreds of thousands daily.
That optimism appears to be widely shared among buyers of properties around the RTS station, which is being built next to the current immigration complex in JB.
Mr Xu said around 40 per cent of Princess Cove buyers are Singaporeans, many of whom were keen to invest in JB properties after Singapore hiked the additional buyer’s stamp duty again in April, making it pricier to own two or more properties in the Republic.
The next biggest groups of buyers are from Malaysia, China and Taiwan, he added.
“We are in a window of opportunity,” said Mr Xu.
“Property prices will only get higher the closer it gets to the completion of the RTS.”
To continue reading, please go to link below:
https://www.straitstimes.com/asia/se-asia/visible-progress-of-upcoming-rts-link-draws-s-porean-malaysian-buyers-to-jb-properties