Even In The Midst Of A Pandemic, The Demand For Landed Housing Remains Stable

JAKARTA - Financial and professional real estate company Jones Lang LaSalle (JLL) Indonesia said that the demand for landed housing in Greater Jakarta remained stable even though the COVID-19 pandemic caused the community's economy to decline.

"The landed housing sector is one of the survivors in the midst of the pandemic. Currently in the second quarter, sales of the landed housing sector are still continuing the trend from mid-2020," said JLL Indonesia Head Researcher Yunus Karim as quoted by ANTARA, Wednesday, July 27.

Yunus said that cumulatively in 2020, the average landed house sales reached 72 percent of the availability of houses of approximately 35,000 units.

Meanwhile, in 2021, the average landed house sales reached 89 percent of the availability of approximately 40,000 units.

Meanwhile, in the first semester of 2022, the average landed house sales reached 90 percent of the housing availability of approximately 40,000 units.

He said, along with the construction of new landed houses, the Central Government through the Ministry of Finance (Kemenkeu) released regulations related to the Government-borne Value Added Tax (PPN DTP) incentives for houses.

The regulation is contained in PMK Number 6/PMK.010/22 concerning Value Added Tax on the Delivery of Treaded Houses and Government-Borrowed Flats for the 2022 Fiscal Year which is set on 2 February 2022.

According to him, the incentives that are valid from the beginning of the year until September 2022 are one of the factors that people consider in buying landed houses.

"In fact, during the first semester of this year, there were 5,700 new units launched by developers. The buyers are dominated by end users because the prices are relatively affordable," he said.

Furthermore, Yunus said, government programs other than VAT incentives such as relaxation of Loan To Value (LTV) or Down Payment (DP), are in line with promotions and flexible payment offers offered by developers.

This, he said, was also supported by the construction of new infrastructure facilities so that it increasingly attracted public interest.

He added that the Tangerang and Bogor areas were in demand by buyers.

This is influenced by the government's efforts to build easier accessibility, including the construction of the Jabodebek toll road and LRT.

"Affordability is a key factor in selling this landed house. A number of developers also have plans to launch a new independent city in Jabodetabek," he said.