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View all search resultsHouse price growth has slowed down in Jakarta and other cities as high interest rates and weak purchasing power take a toll on the market, but experts view the slowdown as temporary and say the trend continues to point upward, to the dismay of would-be home buyers.
The 99 Group, which owns the 99.co and rumah123.com platforms, recorded a 24.6 percent quarterly decline in housing listings on their websites in the third quarter while demand for housing on the sites dropped 6.2 percent from the previous quarter.
Even with unemployment spiking as the coronavirus pandemic swept South Korea in February, Baek Seung-min asked his wife to quit her nursing job to help reach a dream they had spent a lifetime chasing: buying their own apartment.
A 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.
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