Economic Growth And Interest Rates Maintain Positive Sentiment For Property

Property illustration (Photo: Doc. intermediate)

JAKARTA - PT Agung Podomoro Land Tbk (APLN) said maintaining economic growth and benchmark interest rates would provide positive sentiment for the Indonesian property sector.

"The maintenance of economic growth and benchmark interest rates, provide positive sentiment to the national property sector, because it attracts public interest from investors and end users to own property," said Corporate Marketing Director of PT Agung Podomoro Land Tbk (APLN) Agung Wirajaya quoting Antara.

The Central Statistics Agency (BPS) noted that Indonesia's economic growth was at 5.17 percent year on year (yoy) in the second quarter of 2023, or consistently at the level of 5 percent for seven consecutive quarters.

Meanwhile, Bank Indonesia (BI) again maintained the benchmark 7-Day Reverse Repo Rate (BI7DRR) at the level of 5.75 percent at the Board of Governors' Meeting (RDG) on July 24-25, 2023.

Along with the achievement of the national economy, Agung said that the company will hold a property festival in order to introduce the public more about property investment, and in choosing property.

In addition, according to him, the festival will assist the government in overcoming 12.75 million housing backlogs, and mobilize the property sector as a motor for national economic growth.

He said the property sector was able to move 176 other derivative sectors, so that it was able to contribute around 14-16 percent to Indonesia's Gross Domestic Product (GDP).

"We realize that property has always been the leading sector of the Indonesian economy, so that the company continues to be aggressive and agile in responding to market situations. For this reason, we play an active role in supporting the sustainability of economic recovery through property festivals," said Agung.

He explained that the festival will be held from 15 to 27 August 2023 at Senayan City Mall, Jakarta.

"We are optimistic that this property investment festival will provide experience, especially people's preferences in investing in property and make it easier for people to access property products," said Agung.