Fitch Ratings said in a new report that demand for residential property in Indonesia would likely be moderate over the next 12 months, after it experienced a sharp increase over the past two years
itch Ratings said in a new report that demand for residential property in Indonesia would likely be moderate over the next 12 months, after it experienced a sharp increase over the past two years.
'This is because the average selling prices [ASP] are already high and benchmark interest rates are on the rise,' Fitch said in an official release made available to The Jakarta Post on Wednesday.
Nevertheless, long-term prospects remained attractive due to the growing middle class, urbanization and low mortgage rates, according to Fitch.
Fitch also expected its rated portfolio to be able to weather a more challenging operating environment in the next 12 months, supported by sufficient liquidity buffers and staggered debt maturity profiles.
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