In The Middle Of A Pandemic, The Factor Of Property Unit Price Is The Most Considered, Not The Land And Building Area

Illustration. (Photo: Perumnas)

JAKARTA - Based on a consumer survey conducted by Indonesia Property Watch in early September 2020, public interest in buying property is still quite high. At least, this survey is expected to be able to map changes in behavior in the property market during the COVID-19 pandemic.

The survey results showed no significant changes. Even the property market has not drastically lost its purchasing power, although it is different from the reality that national economic growth continues to experience contraction.

The anomalous nature of the property market is reflected in the high public interest in buying property at this time, where 68.09 percent are still interested in buying property at this time even though the pandemic is still ongoing.

Judging from consumer preferences in choosing property, most of the respondents or 28.46 percent stated that they saw more of the unit price offered, then the developer brand was taken into consideration by 16.21 percent, followed by proximity to public facilities by 15.42 percent.

The factors of land area and building area do not really influence consumer decision making, as long as the unit price offered is appropriate.

Most of the price ranges that are in demand are still in the middle segment ranging from Rp. 500 million to Rp1 billion at 29.79 percent, followed by Rp. 300-500 million at 28.72 percent, Rp1 billion-3 billion at 23.40 percent, and under Rp. 300 million. by 10.64 percent.

Meanwhile, the middle to upper segment with prices above IDR 3 billion still has potential demand of 7.45 percent.

However, the decision to buy property is still relatively uncertain. Respondents who will buy property in a period of less than 6 months are 11.7 percent, 6 months to 1 year are 10.64 percent, and the rest choose to buy property for more than 1 year and there is no plan when they will decide to buy property .

Several factors that are considered in purchasing decisions today are strongly influenced by the price factor which is believed to be cheaper than before. 34.45 percent of respondents chose the cheaper price factor as the main consideration in buying property today. In addition, flexible payment methods and attractive promos from developers are the next important factors.

The motives for buying property at this time also varied, most respondents or 42.55 percent saw that it is now a fixed time to buy property for long-term savings (long-term investors).

Meanwhile, 22.34 percent buy property for immediate occupancy (end user). It is also interesting that there are also many buyers who buy property for immediate sale again if the price increases later (short-term investors / speculators), by 18.09 percent. In addition, the property motive as savings for children represents 10.64 percent.

The rest buy property for collections, join-in, and so on. These results also illustrate that in addition to property being still the prima donna for long-term investment, it turns out that end user buyers are still quite large. Developers must pay attention to the factors above in order to influence consumer purchasing decisions at this time.