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View all search resultsA recent survey by Bank Indonesia (BI) revealed that the combined sales of small, medium and large houses fell by 43.19 percent year-on-year (yoy) in the first three months of the year, largely because of the unfolding COVID-19 pandemic.
Property developers are lobbying the government and House of Representatives over what they call “thinning” funds allocated to the government’s subsidized housing program, which has become a key growth driver in the sector.
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