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Jakarta Post

Property market to remain sluggish despite incentives

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Mon, January 13 2020   /  01:48 am
Flatlining development: A photographer poses in front of a line of malls and skyscrapers recently in Jakarta. Analysts predict the property market will remain sluggish this year despite a number of incentives provided by the government. (JP/Seto Wardhana)(JP/Seto Wardhana)

Flatlining development: A photographer poses in front of a line of malls and skyscrapers recently in Jakarta. Analysts predict the property market will remain sluggish this year despite a number of incentives provided by the government. (JP/Seto Wardhana)The government has issued a number of incentives including a higher tax threshold and the reduction of down payment requirements but analysts believe they will not be enough to revive the country’s sluggish property market.Real estate consulting firm Savills Indonesia research and consultancy head Anton Sitorus said he expected the country’s property market to remain the same this year despite the stimulus as demand would remain week.He said the stimuli provided by the government and Bank Indonesia (BI) would not have much impact on property sales because the current property prices were still considered too high.“Those incentives ...