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Jakarta, 11 Nov 2009 – This was conveyed by the Head of Research and Consultantcy Procon Property Market Outlook in 2010 by Procon Savills in IDX Building, Jakarta, Wednesday (11/11/2009).

“The increase in sales is because for 42% of new supply has been absorbed by the market (sold) and the Bogor region alone absorbs about 35% of the sales of new supply,” Utami said.

Utami then add other than consumer confidence / buyers who rose in line with the improving economy, interest rates by Bank Indonesia (BI Rate) of low and stable was also a positive impact on mortgage interest.

“In the quarter-III, Cumulative supply reached 346,300 units in Tangerang as the largest contributor of about 42%. New supply in this quarter of 3820 units or an increase of 80% compared to the previous quarter,” Utami said.

Utami also said the new supplies are dominated by middle class and most came from Bekasi area (44%) and Bogor (23%).

Residential market performance, continued Utami, is expected to continue to improve which will be reflected in an increase in supplies sales. “Approximately 1500 housing units will be marketed at the end of the quarter in 2009. For the quarter lower than III, because of the marketing period short enough,” Utami said.

Future economic growth is still sustained by domestic consumption is strong domestically. For that Utami emphasize growth as a reference in the building sector will reach 6.1% -6.2% in 2009.

In addition, increased levels of business confidence has also encouraged more active in leasing activity in the CDB office space in Jakarta.

“Additional new supply in Quarter III-2009 reached 110.700m2. Derived from the completion of two new buildings Cyber II in Kuningan and the Plaza in Thamrin,” he explained.

While the retail market in Jakarta and surrounding areas reached 76.5% down 1.5% from the previous quarter. “For the total supply of condominiums in Jakarta on third-quarter 2009 was recorded at 96.9% with the total units that have not been sold for 2240 units,” Utami said.

Utami added, for Fourth-quarter 2009 until the year 2011 the number of condo supply was recorded at 9580 with the largest contribution is dominated by the middle segment of 63% of the total units available. ARP