Prices of residential sites in Asia increased by 1.9% in the first half of 2016, down from 2.8% in the preceding six months, put office land increased from 1.9% to 2.2%.
Overall development land investment volumes in Asia matched the level registered in the corresponding period last year, according to the Prime Asia Development Land Index from international real estate firm Knight Frank.
As compared to the preceding six months, however, they were 40.4% lower and the index report explains that land markets tend to be more active in the second half of the year, which accounts for 60% of the transactions historically.
Improvement in economic growth, implementation of government stimulus packages, as well as infrastructure development will help propel sales this year, Eddy Hussy told reporters in Jakarta
The Cabinet Secretariat said on its website on Tuesday that President Joko Widodo signed a regulation late last year giving foreigners the right to buy a landed house for three decades, with a possible extension of another 50 years
A house with a sale price of 20 billion rupiah ($1.45 million) or above is now subject to 20 percent luxury tax, according to a new ministerial decree
According to research by Rumah.com, property buyers in Indonesia take up to nine months to search and decide on the purchase of their dream home. As for property investors, the purchase process can be shortened to around four months as they don’t spend as much time on research. And one of the key reasons that contributes to faster decision-making is the engagement of a real estate agent.
Indonesia's government is launching an ambitious program to try to build one million homes before the end of the year.
It is aimed at helping people on lower incomes, many of whom live in poor accommodation.
There are big challenges facing the sector.
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