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Consumers look for cheaper existing properties
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Upbeat - Rumah.com country manager Wasudewan (third right), Indonesia Property Watch CEO Ali Tranghada (second right) and PropertyGuru Group Singapore chief business officer Lewis Ng (right) look at property data on a website on the sidelines of the Indonesia Real Estate Summit 2016 in Jakarta on Thursday. (Antara/Widi)
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nline property portal rumah.com said on Thursday that existing property in Greater Jakarta had become more attractive to consumers, many of whom are seeking houses for sale at Rp 500 million (US$37,582) or lower.
Rumah.com country manager Wasudewan said that this year, the number of real estate agents listing previously owned property on the portal had reached high figures, with houses on offer in Jakarta’s neighboring cities like Bogor, Depok, Tangerang and Bekasi.
“We don’t have the transaction data. But, the number of advertisements for secondhand property has jumped, along with the number of inquiries from customers,” he said.
From 250 projects listed on rumah.com, properties for sale between Rp 200 million and Rp 500 million generated the most customer inquiries, he added.
“Currently, more people are looking for houses below Rp 500 million and located 50 to 70 kilometers away from Jakarta,” Wasudewan said.
Property consultant Indonesia Property Watch’s chief executive officer Ali Tranghanda shared the same view, saying demand for new properties bought directly from developers had gone down in 2016.
He attributed the shift in such consumer behavior to the fact that new houses tended to be overvalued compared to existing buildings.
“Property prices from developers can be 20 percent more expensive than secondhand property in the same location,” Ali said. (win/ebf)
