Property Investment Prospects in Indonesia during a recession in 2023
Navigasi - What are the prospects for property investment in the midst of a recession in 2023? Find the answer according to the experts in this article.
|Property Investment Prospects in Indonesia during a recession in 2023|
Recently, the news in the mass media has worried the Indonesian people. It is said that the world is predicted to face the threat of an economic crisis and an economic recession next year.
Even the Indonesian government continues to urge the public to prepare for the threat. President Joko Widodo (Jokowi) said that such conditions could make any country fluctuate without being predictable because it is full of uncertainty and high volatility of commodity prices.
This was conveyed by President Jokowi at the opening of the 2022 BNI Investor Daily Summit on Tuesday (11/10/2022).
This uncertain situation certainly affects the public's view of investment. People are worried that the investment they have invested will be affected by a recession, for example property investment.Answering that, how about hearing the expert opinion directly?
Executive Director of the Indonesian Property Studies Center (PSP) Panangian Simanungkalit gave his views on the global recession that is being talked about. As a property expert, Panangian is optimistic that the threat of a busy global recession that is predicted to come in 2023 will not have an impact on the property sector in Indonesia.
“There is not much [influence], except that good inflation can increase BI7DRR, then it can increase mortgage rates. However, it is still safe for next year," he said as quoted from Bisnis.com.
"In terms of investment, property is still a good asset in the current economy," he continued. This is because property prices are projected to increase next year in line with the increase in Gross Domestic Product (GDP).
When is the Right Time to Invest in Property?
Still from the same source, Panangian provides a leak of the right time to invest in property. According to him, now is the right time to buy property.
“This is the time to invest in property because the price is stable. With a GDP of 5 percent this year, property prices will start to increase next year," he said.
When deciding to jump into property investment, he appealed to consumers to be careful in choosing a trusted developer. Consumers must cross-check the developer's track record while working in the property industry. What are the projects that have been developed previously and what is the condition of the company. In addition, consumers are also advised to choose developers whose management is professional.