covid

COVID-19: Early Warning for Property Markets

superadmin June 4, 2020 No Comments

Posted On : The Jakarta Post, 26 March 2020
Harizul Akbar Nazwar, B.Eng., M.Ec.Dev., MAPPI (Cert.)

Missed Prediction
At the beginning of the year, many predicted that the property market in 2020 would getting better. Several economic stimuli, both directly and indirectly related to the property market, have been issued. One of the policy packages that has become an effective strategy for the government to boost property growth is the relaxation of loan to value mortgages from 10% to 5%, effective on December, 2019. In addition, since mid-2019, the Minister of Finance has also reduced PPNBm (Value Added Tax on Luxury Goods) by issuing the minister of finance regulation number PMK 92/PMK.03/2019 from the 20 billion to 30 billion thresholds with the aim of boosting the middle to upper class property market.
But until the first quarter of 2020, there were no signs that the property market in Indonesia was improving. Colliers research results show that the growth in apartment prices in the Jakarta CBD in the fourth quarter of 2019 grew stagnant, while as year on year (yoy) it only grew by 0.8%. Bank Indonesia’s Residential Property Price Index (RPPI) recorded a decline in growth of only 1.77%, lower than 1.80% in the third quarter of 2019 (yoy). The slowdown was also shown in the commercial property market. The commercial property market in Indonesia has experienced a significant slowdown, from 3.12% (yoy) in the third quarter to only 0.04% (yoy) in the fourth quarter of 2019.
This condition was also exacerbated by the depressed condition of the Indonesian economy during the end of semester 2019. BPS noted that Indonesia’s economic growth in 2019 was only 5.02% lower than in 2018 which was 5.17%. Considering that the property sector has a linkage to 10 other sectors, the national economic slowdown will also directly impact the property sector slowdown. (more…)

COVID-19 : Early Warning Pasar Properti

superadmin June 4, 2020 No Comments

Posted On : Harian Kontan, 27 Maret 2020
Harizul Akbar Nazwar, B.Eng., M.Ec.Dev., MAPPI (Cert.)

Missed-Prediksi
Beberapa stimulus ekonomi baik yang berkaitan langsung maupun tidak langsung dengan pasar properti sudah dikeluarkan. Adapun paket kebijakan yang menjadi jurus ampuh pemerintah untuk mendongkrak pertumbuhan properti adalah relaksasi loan to value KPR dari 10% menjadi 5% yang efektif berlaku pada tanggal 2 Desember 2019. Selain itu, sejak pertengahan tahun 2019, Menteri Keuangan juga telah menurunkan PPNBm (Pajak Pertambahan Nilai Barang Mewah) terhitung dengan mengeluarkan peraturan menteri keuangan nomor PMK 92/PMK.03/2019. Batas bawah PPNBm di tingkatkan dari 20 miliar menjadi 30 miliar dengan tujuan mendongkrak pasar properti kelas menengah ke atas.
Namun hingga triwulan I tahun 2020, belum ada tanda-tanda pasar properti di Indonesia membaik. Hasil riset Colliers menunjukkan bahwa pertumbuhan harga apartemen di CBD Jakarta pada triwulan IV 2019 tumbuh stagnan secara qtq, sedangkan secara yoy hanya tumbuh sebesar 0,8%. Adapun Indeks Harga Properti Residensial (IHPR) BI mencatat penurunan pertumbuhan yang hanya sebesar 1,77%, lebih rendah dibandingkan 1,80% pada triwulan III 2019. Perlambatan juga ditunjukkan pada pasar properti komersial. Pasar properti komersial di Indonesia tercatat mengalami perlambatan signifikan yaitu dari 3,12% (yoy) pada triwulan III menjadi hanya 0,04% (yoy) pada triwulan IV 2019.
Kondisi ini juga diperparah dengan tertekannya kondisi ekonomi Indonesia selama akhir semester 2019. BPS mencatat pertumbuhan ekonomi Indonesia sepanjang tahun 2019 hanya sebesar 5,02% lebih rendah dari pencapaian di tahun 2018 yaitu sebesar 5,17%. Mempertimbangkan bahwa sektor properti memiliki linkage terhadap 10 sektor lainnya, maka perlambatan ekonomi secara nasional juga secara langsung akan berdampak terhadap perlambatan sektor properti. (more…)