{"id":1650,"date":"2018-12-06T06:13:46","date_gmt":"2018-12-06T06:13:46","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1650"},"modified":"2021-06-04T14:11:08","modified_gmt":"2021-06-04T07:11:08","slug":"indonesian-property-market-to-remain-stable-during-election-year","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indonesian-property-market-to-remain-stable-during-election-year\/","title":{"rendered":"Indonesian property market to remain stable during election year"},"content":{"rendered":"<p><strong>Property experts confident that buying sentiment in sector will withstand shocks of upcoming polls<\/strong><\/p>\n<figure id=\"attachment_1651\" aria-describedby=\"caption-attachment-1651\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1651\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Indonesian-property-market-to-remain-stable-during-election-year.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Indonesian-property-market-to-remain-stable-during-election-year.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Indonesian-property-market-to-remain-stable-during-election-year-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Indonesian-property-market-to-remain-stable-during-election-year-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1651\" class=\"wp-caption-text\">Jalan Thamrin, Jakarta. AsiaTravel\/Shutterstock<\/figcaption><\/figure>\n<p>The Indonesian real estate market is expected to weather political headwinds\u00a0in the runup to\u00a0the April 2019 elections.<\/p>\n<p>The property market in the first semester of 2019 should hold steady\u00a0despite coinciding with the Indonesian parliamentary and presidential elections, according to Ike Hamdan, head of marketing for\u00a0<a href=\"http:\/\/rumah.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Rumah.com<\/a>.<\/p>\n<p>&#8220;The market demands will continue to be stable and the demands for middle to upper-class properties will increase,&#8221; Ike was quoted as saying by\u00a0<a href=\"https:\/\/en.tempo.co\/read\/news\/2018\/12\/06\/056924054\/2019-Expected-to-see-Stable-Property-Market-Despite-Election\" target=\"_blank\" rel=\"noopener noreferrer\">Tempo.co<\/a>.<\/p>\n<p>The Indonesian government&#8217;s efforts to\u00a0maintain positive buyer sentiment throughout 2018 have\u00a0reaped positive results, she added.<\/p>\n<p>A decision to increase the government&#8217;s infrastructure budget by six\u00a0percent year-on-year is also poised to bode significantly well for economic growth.<\/p>\n<p>Experts had previously extolled the\u00a0government\u2019s plans to make tax rules more conducive to the real estate industry as well as\u00a0loosen\u00a0mortgage underwriting standards.<\/p>\n<p>&#8220;A number of government policies such as Loan To Value (LTV) and the \u2018one million housing program\u2019 will further accommodate people\u2019s needs. Especially the housing needs of the middle to lower class,&#8221; Ike explained.<\/p>\n<p>Luxury property sales will soon be taxed at one percent of the selling price, down from the current rate of five percent, Finance Minister Sri Mulyani Indrawati\u00a0<a href=\"https:\/\/www.straitstimes.com\/asia\/se-asia\/indonesia-plans-to-cut-property-taxes-to-stimulate-economy\" target=\"_blank\" rel=\"noopener noreferrer\">announced<\/a>\u00a0late last month.<\/p>\n<p>The threshold for a luxury property tax, currently at 20 percent and applicable to houses and apartments, will also be raised to include residential units worth IDR30 billion (USD2 million), up from IDR20 billion.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property experts confident that buying sentiment in sector will withstand shocks of upcoming polls<\/p>\n","protected":false},"author":2,"featured_media":19873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","news_country-indonesia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Indonesian property market to remain stable during election year | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/indonesian-property-market-to-remain-stable-during-election-year\/\" \/>\n<meta property=\"og:locale\" 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