03 April 2025
‘Breaking point’: Melbourne rents hit record highs – again
Melbourne’s median asking rent for a unit has risen by a week over the past year, putting more pressure on tenants already reeling from almost four years of rent hikes.
The asking rent for a typical unit is now 5 per week, 4.5 per cent more than it was a year ago, Domain’s latest Rent Report for the March quarter shows.
The median house rent is a week higher than a year ago at 0 per week, although in a glimmer of hope for tenants, house rents stabilised over the past three months.
Melbourne rents reached their trough in winter 2021 when COVID lockdown delayed young adults from moving out of home, blocked international students and made it harder for landlords to ask for more money, given some tenants’ reduced incomes.
Back then, the typical unit could be rented for 0 a week, and the median house for 0, enabling some households to turn spare bedrooms into home offices.
Since the city reopened, rents have soared, first at a double-digit annual pace and then more slowly as renters adjusted by taking on more housemates or moving back home.
To view more, please go to link below:
https://www.theage.com.au/property/news/breaking-point-melbourne-rents-hit-record-highs-again-20250401-p5loc1.html
The asking rent for a typical unit is now 5 per week, 4.5 per cent more than it was a year ago, Domain’s latest Rent Report for the March quarter shows.
The median house rent is a week higher than a year ago at 0 per week, although in a glimmer of hope for tenants, house rents stabilised over the past three months.
Melbourne rents reached their trough in winter 2021 when COVID lockdown delayed young adults from moving out of home, blocked international students and made it harder for landlords to ask for more money, given some tenants’ reduced incomes.
Back then, the typical unit could be rented for 0 a week, and the median house for 0, enabling some households to turn spare bedrooms into home offices.
Since the city reopened, rents have soared, first at a double-digit annual pace and then more slowly as renters adjusted by taking on more housemates or moving back home.
To view more, please go to link below:
https://www.theage.com.au/property/news/breaking-point-melbourne-rents-hit-record-highs-again-20250401-p5loc1.html
13 March 2025
Meet the Aussies building and buying in booming Bali
They are the Aussies riding the post-Covid property wave all the way to Bali, cashing in on cheaper construction costs, better returns, and a highly Instagrammable location.
Australia’s high interest rates and house prices have driven a host of homeowners and property developers to the booming international travel destination in recent years, with rice paddy fields making way for apartment blocks.
Former top DJ and Melbourne nightclub operator Simon Digby sold his waterfront Mornington Peninsula holiday home just last month as he watched the auction from Indonesian party island.
After years spinning the decks at raves and on tours alongside the likes of Armand Van Helden, Jeff Mills and Adam Beyer, Digby has pulled up stumps in Australia and relocated to Bali, where he is spearheading the development of luxury resort, Further Hotel in Pererenan, near Canggu.
He follows in the footsteps of the founder of creative design agency, Peppa Hart, Sophie Bell and her husband, Michael, who sold their Tweed Heads house in 2022 to move to Bali, where they have built a luxury accommodation offering called Casa La Playa.
Gold Coast designer Emma Sweeny, who runs Project E, took her creative prowess from Burleigh to Bali after the whirlwind renovation and sale of Ruin X — an all-rendered house in Burleigh Heads that attracted national headlines for its quirkiness.
Ms Sweeny, with two business partners, is building four luxury three-storey villas in Bali’s Padang Hills, complete with their own pools and rooftop terraces, and has just bought more land for future development.
“I knew I could do so much more in Bali with the building prices being cheaper than in Australia, so I jumped on the bandwagon and haven’t looked back since,” she said.
“It is becoming such a hot spot and the construction and development world is booming.”
With foreigners largely barred from buying land in Bali, villas sell as long-term leases, usually between 25 and 50 years, with the land returning to an Indonesian owner at the end — albeit with units on it.
A building boom is seeing many farmers sell or lease their land for villas to accommodate the new wave of tree changers and digital nomads from abroad.
Real Estate Institute of Australia president Leanne Pilkington last year purchased a 0,000 leasehold on a four-bedroom Bali villa that’s under construction.
The leasehold means she will be permitted to reside or visit across a 26-year period.
“We always joked about retiring to Bali and I said that I didn’t want to live there permanently, but would be happy to live there for a few months of every year,” Ms Pilkington said.
Gold Coast building designer Jayson Pate has several clients who are building in Bali.
“With land and construction costs being so incredibly high, it’s probably pushing some people to look to invest elsewhere,” he said.
“There are now enough Aussies there getting land in Bali that it’s giving other Aussies comfort that they can do it too.
“Other reasons people are looking into doing it is the incredible return on investment.”
But he said it wasn’t without risk.
“I think it is becoming safer to invest there but it is still high risk compared to here (in Australia).”
Rae Underhill and Adriel Lack are behind luxury residential design firm Raven and Lack, with Bali the latest project destination for the business owners.
“For us it’s all about lifestyle — it’s such an easy flight and we are drawn to Bali’s natural beauty, vibrant culture, and relaxed lifestyle, making it super appealing to own property,” Ms Underhill said.
“We think the trend for Aussies developing in Bali is definitely set to continue — its proximity, climate, beaches, and cultural appeal will always remain of great interest.
“Then overlaid with high levels of design and luxury offerings which are then in turn delivering impressive ROI (return on investments), the lifestyle and investment opportunity combination becomes particularly compelling.”
Ms Lack said property development costs were often lower in Bali compared to Australia, making it an attractive option for those seeking affordable investments.
“Plus investing in Bali property can be a way to diversify a real estate portfolio and reduce risk,” Ms Lack said.
https://www.realestate.com.au/news/meet-the-aussies-building-and-buying-in-booming-bali/
Australia’s high interest rates and house prices have driven a host of homeowners and property developers to the booming international travel destination in recent years, with rice paddy fields making way for apartment blocks.
Former top DJ and Melbourne nightclub operator Simon Digby sold his waterfront Mornington Peninsula holiday home just last month as he watched the auction from Indonesian party island.
After years spinning the decks at raves and on tours alongside the likes of Armand Van Helden, Jeff Mills and Adam Beyer, Digby has pulled up stumps in Australia and relocated to Bali, where he is spearheading the development of luxury resort, Further Hotel in Pererenan, near Canggu.
He follows in the footsteps of the founder of creative design agency, Peppa Hart, Sophie Bell and her husband, Michael, who sold their Tweed Heads house in 2022 to move to Bali, where they have built a luxury accommodation offering called Casa La Playa.
Gold Coast designer Emma Sweeny, who runs Project E, took her creative prowess from Burleigh to Bali after the whirlwind renovation and sale of Ruin X — an all-rendered house in Burleigh Heads that attracted national headlines for its quirkiness.
Ms Sweeny, with two business partners, is building four luxury three-storey villas in Bali’s Padang Hills, complete with their own pools and rooftop terraces, and has just bought more land for future development.
“I knew I could do so much more in Bali with the building prices being cheaper than in Australia, so I jumped on the bandwagon and haven’t looked back since,” she said.
“It is becoming such a hot spot and the construction and development world is booming.”
With foreigners largely barred from buying land in Bali, villas sell as long-term leases, usually between 25 and 50 years, with the land returning to an Indonesian owner at the end — albeit with units on it.
A building boom is seeing many farmers sell or lease their land for villas to accommodate the new wave of tree changers and digital nomads from abroad.
Real Estate Institute of Australia president Leanne Pilkington last year purchased a 0,000 leasehold on a four-bedroom Bali villa that’s under construction.
The leasehold means she will be permitted to reside or visit across a 26-year period.
“We always joked about retiring to Bali and I said that I didn’t want to live there permanently, but would be happy to live there for a few months of every year,” Ms Pilkington said.
Gold Coast building designer Jayson Pate has several clients who are building in Bali.
“With land and construction costs being so incredibly high, it’s probably pushing some people to look to invest elsewhere,” he said.
“There are now enough Aussies there getting land in Bali that it’s giving other Aussies comfort that they can do it too.
“Other reasons people are looking into doing it is the incredible return on investment.”
But he said it wasn’t without risk.
“I think it is becoming safer to invest there but it is still high risk compared to here (in Australia).”
Rae Underhill and Adriel Lack are behind luxury residential design firm Raven and Lack, with Bali the latest project destination for the business owners.
“For us it’s all about lifestyle — it’s such an easy flight and we are drawn to Bali’s natural beauty, vibrant culture, and relaxed lifestyle, making it super appealing to own property,” Ms Underhill said.
“We think the trend for Aussies developing in Bali is definitely set to continue — its proximity, climate, beaches, and cultural appeal will always remain of great interest.
“Then overlaid with high levels of design and luxury offerings which are then in turn delivering impressive ROI (return on investments), the lifestyle and investment opportunity combination becomes particularly compelling.”
Ms Lack said property development costs were often lower in Bali compared to Australia, making it an attractive option for those seeking affordable investments.
“Plus investing in Bali property can be a way to diversify a real estate portfolio and reduce risk,” Ms Lack said.
https://www.realestate.com.au/news/meet-the-aussies-building-and-buying-in-booming-bali/
11 February 2025
Broker Gives Warning: Take These 3 Steps Before Buying Property
Jakarta, CNBC Indonesia - The case of house demolitions despite having ownership certificates (SHM) that occurred in Cluster Setia Mekar Residence 2, Tambun Selatan, Bekasi has recently attracted attention. So how can one avoid becoming a victim of a similar case?
The Chairman of the Indonesian Real Estate Broker Association (Arebi), Clement Francis, gives tips for the public who want to buy property with secure legality. First, ensure that the legal validity or legality is complete, then check the track record of disputes.
Ask the certified property agent, ask if there are any issues in this area? Second, check the surroundings for any past disputes, because a big fire starts from a small flame; it will be revealed when there is already a fire but it is still being covered up. Third, check with government agencies because they know the area, who issued the permits, was it the government?" said Clement to CNBC Indonesia, quoted Tuesday (11/2/2025).
The government is reportedly going to require property agent certification. That obligation will be included in the revision of PP 5 of 2021 concerning the Implementation of Risk-Based Business Licensing. Property agents or Property Brokerage Companies (P4) will be upgraded from low risk to medium to high risk.
"Broker should be asked, which office are you affiliated with?" That means there is a legal entity, it's better to find a real estate agent who has a legal entity, right? It's easy to track down in case of fraud and such, rather than a corporation, where would you look for them? "If anything happens, there is a legal entity," said Clement.
"If a random person is to be searched for, where would you look?" Indonesia has 270 million people; if they are registered, there will be data records for those who are registered. Property agents look for certified ones, not motorcycle taxi drivers who may or may not understand," he continued.
People who buy property assets must also ensure that all processes run smoothly, for example, by confirming with the Land Deed Official (PPAT).
"First, the agent checks, then the legal standing of the PPAT or notary. For a land sale transaction to occur, there is a broker, then an agreement, and it goes to the PPAT, who checks with the BPN. So, it ultimately goes to the government, and the BPN issues the certificate," said Clement.
https://www.cnbcindonesia.com/news/20250211123933-4-609702/broker-kasih-peringatan-lakukan-3-langkah-ini-sebelum-beli-properti
The Chairman of the Indonesian Real Estate Broker Association (Arebi), Clement Francis, gives tips for the public who want to buy property with secure legality. First, ensure that the legal validity or legality is complete, then check the track record of disputes.
Ask the certified property agent, ask if there are any issues in this area? Second, check the surroundings for any past disputes, because a big fire starts from a small flame; it will be revealed when there is already a fire but it is still being covered up. Third, check with government agencies because they know the area, who issued the permits, was it the government?" said Clement to CNBC Indonesia, quoted Tuesday (11/2/2025).
The government is reportedly going to require property agent certification. That obligation will be included in the revision of PP 5 of 2021 concerning the Implementation of Risk-Based Business Licensing. Property agents or Property Brokerage Companies (P4) will be upgraded from low risk to medium to high risk.
"Broker should be asked, which office are you affiliated with?" That means there is a legal entity, it's better to find a real estate agent who has a legal entity, right? It's easy to track down in case of fraud and such, rather than a corporation, where would you look for them? "If anything happens, there is a legal entity," said Clement.
"If a random person is to be searched for, where would you look?" Indonesia has 270 million people; if they are registered, there will be data records for those who are registered. Property agents look for certified ones, not motorcycle taxi drivers who may or may not understand," he continued.
People who buy property assets must also ensure that all processes run smoothly, for example, by confirming with the Land Deed Official (PPAT).
"First, the agent checks, then the legal standing of the PPAT or notary. For a land sale transaction to occur, there is a broker, then an agreement, and it goes to the PPAT, who checks with the BPN. So, it ultimately goes to the government, and the BPN issues the certificate," said Clement.
https://www.cnbcindonesia.com/news/20250211123933-4-609702/broker-kasih-peringatan-lakukan-3-langkah-ini-sebelum-beli-properti
30 January 2025
The Younger Generation is Increasingly Interested in Buying a House Instead of Renting, This Developer Offers Attractive Products
Liputan6.com, Jakarta The 123 Property Recap 2024: The Youth Moves report from Rumah123 shows a significant change in the younger generation's interest in property. If previously they tended to prefer to rent housing, now more and more people are starting to consider the importance of owning a home.
The report also noted that 75% of property seekers on Rumah123 came from the younger generation. Rumah123 divides the younger generation segment into three age groups, namely 18-24 years, 25-34 years, and 35-44 years. Meanwhile, house seekers from the older age group, namely 45-54 years, are in a separate group.
Marisa Jaya, Head of Research at Rumah123, explained that Rumah123 noted an interesting phenomenon related to preferences for searching for landed houses based on age. For landed houses, both the younger and older generations tend to prefer buying houses – both new and used – rather than renting.
"In general, landed houses priced at IDR 1 billion - IDR 3 billion are the favorite among all age groups, followed by houses priced at IDR 400 million - IDR 1 billion," he explained.
Rumah123 also notes that Indonesia's young generation in 2025 has great potential and will continue to grow, especially as prospective first home buyers who are trying to make their dream home a reality.
Welcoming this great potential, PT Lippo Karawaci Tbk (LPKR), the leading real estate and health service platform in Indonesia, continues to accelerate sales of a number of superior projects in the Lippo Village to Park Serpong areas.
John Riady, Group CEO of Lippo, revealed that in the third quarter of 2024, LPKR managed to record pre-sales of IDR 4.25 trillion, which reached 79% of this year's target.
"This achievement was driven by continued sales of affordable landed home products from previous launches, such as Cendana Homes, XYZ Livin, and Waterfront Uptown, as well as the new launch of the Zen series in Park Serpong and (22/1/2025).
Pre-sales of IDR 4.25 trillion also showed an increase of 26% compared to the previous year, reflecting market demand.
Specifically for pre-sales in the Lippo Karawaci area, which includes several flagship projects in the Lippo Village area to Park Serpong, it was recorded at IDR 3.19 trillion in the January-September 2024 period.
https://www.liputan6.com/bisnis/read/5891718/generasi-muda-makin-tertarik-beli-rumah-dibanding-sewa-pengembang-ini-tawarkan-produk-menarik
The report also noted that 75% of property seekers on Rumah123 came from the younger generation. Rumah123 divides the younger generation segment into three age groups, namely 18-24 years, 25-34 years, and 35-44 years. Meanwhile, house seekers from the older age group, namely 45-54 years, are in a separate group.
Marisa Jaya, Head of Research at Rumah123, explained that Rumah123 noted an interesting phenomenon related to preferences for searching for landed houses based on age. For landed houses, both the younger and older generations tend to prefer buying houses – both new and used – rather than renting.
"In general, landed houses priced at IDR 1 billion - IDR 3 billion are the favorite among all age groups, followed by houses priced at IDR 400 million - IDR 1 billion," he explained.
Rumah123 also notes that Indonesia's young generation in 2025 has great potential and will continue to grow, especially as prospective first home buyers who are trying to make their dream home a reality.
Welcoming this great potential, PT Lippo Karawaci Tbk (LPKR), the leading real estate and health service platform in Indonesia, continues to accelerate sales of a number of superior projects in the Lippo Village to Park Serpong areas.
John Riady, Group CEO of Lippo, revealed that in the third quarter of 2024, LPKR managed to record pre-sales of IDR 4.25 trillion, which reached 79% of this year's target.
"This achievement was driven by continued sales of affordable landed home products from previous launches, such as Cendana Homes, XYZ Livin, and Waterfront Uptown, as well as the new launch of the Zen series in Park Serpong and (22/1/2025).
Pre-sales of IDR 4.25 trillion also showed an increase of 26% compared to the previous year, reflecting market demand.
Specifically for pre-sales in the Lippo Karawaci area, which includes several flagship projects in the Lippo Village area to Park Serpong, it was recorded at IDR 3.19 trillion in the January-September 2024 period.
https://www.liputan6.com/bisnis/read/5891718/generasi-muda-makin-tertarik-beli-rumah-dibanding-sewa-pengembang-ini-tawarkan-produk-menarik
12 December 2024
‘Shocking’: Rough sleeping rises 33 per cent as housing crisis escalates More than 280,000 Australians have become homeless in the past year.
Homelessness in Australia has reached “devastating levels”, according to new data from the Australian Institute of Health and Welfare (AIHW).
In total, 280,100 people received assistance from specialist homelessness services in 2024.
The number of rough sleepers has risen 13 per cent in the past year, and 33 per cent in the past two years.
A staggering 31 per cent of people who needed emergency or short-term accommodation didn’t receive it.
“This is a humanitarian crisis and these shocking new figures must be a wake-up call for governments across Australia,” Kate Colvin, CEO of Homelessness Australia, says.
“We are failing people at every turn – more families, workers and older Australians are being pushed to breaking point by skyrocketing rents and a broken housing system.”
The people at the greatest risk of homelessness are women and domestic violence survivors.
Sixty percent of people who sought help from homelessness services in 2024 were women, and two in five clients had experienced domestic or family violence.
“We knew it was bad, but this data shows us it’s getting even worse,” Colvin says.
The states with the starkest increases in rough sleeping were Queensland and Western Australia – the same states that have seen the highest spikes in rent and house prices.
Queensland saw a 51 per cent increase in the number of people sleeping rough. In Brisbane, house prices rose 14.8 per cent over 2024 – more than twice the national rate.
In Western Australia, rough sleeping rose 35 per cent off the back of a 25.3 per cent annual increase in Perth house prices.
“This is no longer a challenge for just the most vulnerable – working Australians and families are becoming homeless,” Calvin says.
“It’s time for leaders to step up and ensure no one in Australia is left without the support they need to keep a roof over their head.”
https://www.domain.com.au/news/shocking-rough-sleeping-rises-33-per-cent-as-housing-crisis-escalates-1341338/
In total, 280,100 people received assistance from specialist homelessness services in 2024.
The number of rough sleepers has risen 13 per cent in the past year, and 33 per cent in the past two years.
A staggering 31 per cent of people who needed emergency or short-term accommodation didn’t receive it.
“This is a humanitarian crisis and these shocking new figures must be a wake-up call for governments across Australia,” Kate Colvin, CEO of Homelessness Australia, says.
“We are failing people at every turn – more families, workers and older Australians are being pushed to breaking point by skyrocketing rents and a broken housing system.”
The people at the greatest risk of homelessness are women and domestic violence survivors.
Sixty percent of people who sought help from homelessness services in 2024 were women, and two in five clients had experienced domestic or family violence.
“We knew it was bad, but this data shows us it’s getting even worse,” Colvin says.
The states with the starkest increases in rough sleeping were Queensland and Western Australia – the same states that have seen the highest spikes in rent and house prices.
Queensland saw a 51 per cent increase in the number of people sleeping rough. In Brisbane, house prices rose 14.8 per cent over 2024 – more than twice the national rate.
In Western Australia, rough sleeping rose 35 per cent off the back of a 25.3 per cent annual increase in Perth house prices.
“This is no longer a challenge for just the most vulnerable – working Australians and families are becoming homeless,” Calvin says.
“It’s time for leaders to step up and ensure no one in Australia is left without the support they need to keep a roof over their head.”
https://www.domain.com.au/news/shocking-rough-sleeping-rises-33-per-cent-as-housing-crisis-escalates-1341338/
01 November 2024
Minister Maruarar Donates 2.5 Hectares of Land for Public Housing
Tangerang. Housing Minister Maruarar Sirait has donated 2.5 hectares of land in Tangerang Regency, where 250 homes will be built to address the need for affordable housing.
The site is located near the high-end residential and business complex Pantai Indah Kapuk 2, west of Jakarta. Each house will be built with a floor area of 36 square meters on a 60-square-meter plot.
The construction project will be led by Agung Sedayu Group, the developer of Pantai Indah Kapuk.
A large tent has already been set up at the site in preparation for the groundbreaking ceremony, scheduled for November 10, which will coincide with National Heroes Day.
"I hope this initiative inspires others to contribute similarly, as mutual assistance is a core value of our culture, passed down through generations," Maruarar said. "This housing project does not involve state funding; both the land and the developer are contributions from the private sector."
Maruarar is tasked with facilitating the construction of 3 million homes nationwide. He noted that achieving this target would be difficult without donations and public support, given the limitations of the state budget.
https://jakartaglobe.id/business/minister-maruarar-donates-25-hectares-of-land-for-public-housing
The site is located near the high-end residential and business complex Pantai Indah Kapuk 2, west of Jakarta. Each house will be built with a floor area of 36 square meters on a 60-square-meter plot.
The construction project will be led by Agung Sedayu Group, the developer of Pantai Indah Kapuk.
A large tent has already been set up at the site in preparation for the groundbreaking ceremony, scheduled for November 10, which will coincide with National Heroes Day.
"I hope this initiative inspires others to contribute similarly, as mutual assistance is a core value of our culture, passed down through generations," Maruarar said. "This housing project does not involve state funding; both the land and the developer are contributions from the private sector."
Maruarar is tasked with facilitating the construction of 3 million homes nationwide. He noted that achieving this target would be difficult without donations and public support, given the limitations of the state budget.
https://jakartaglobe.id/business/minister-maruarar-donates-25-hectares-of-land-for-public-housing
25 October 2024
Trends and Potential of the Used Home Market in Jakarta, After Releasing the Status of the Capital City to IKN
PropertiTerkini.com, (JAKARTA) — The July 2024 edition of Rumah123 Flash Report reveals a number of interesting facts about the trends and potential of the used home market in Jakarta after relinquishing the status of the capital city to the Capital City of the Archipelago (IKN) in East Kalimantan.
The data also shows that Tangerang is the most popular area with a popularity of 15% of the total home listing inquiries in Indonesia in July. Followed by two areas in Jakarta, namely South Jakarta (11.3%) and West Jakarta (10.5%).
Ahead of the plan to move the capital city to IKN, Rumah123 also reveals the latest trends and potential of the housing market in Jakarta in the future.
Rumah123 Head of Research, Marisa Jaya, said that this month the annual popularity growth is still led by cities in Jakarta and its surroundings.
In June 2024, he said, the growth in demand (inquiries) for rented houses in Jakarta grew by 59.8% and houses for sale by 114.9% annually.
"Overall, the growth in demand for landed houses in Jakarta in June was recorded at 90.1% annually," he said.
Most Popular Searches for Second-hand Houses in South Jakarta
In terms of price, when compared to surrounding satellite cities, such as Tangerang, Depok and Bogor, price growth in Jakarta is relatively stagnant.
Throughout Semester I 2024, the growth in housing prices in Jakarta each month ranged from 0.8% to 1.4% annually, tending to be low compared to other cities, such as Bogor which ranged from 4.6% to 7.7%.
There are a number of reasons why Jakarta recorded price stagnation compared to other cities in Jabodetabek.
First, Jakarta is one of the largest centers of economic and business activity in Indonesia, so it has a high population density.
Property development in Jakarta has also been saturated so that there is no longer much development in Jakarta, especially for the housing sector.
New developments are generally apartments by maximizing limited land.
Jakarta has also been facilitated with good accessibility and public transportation networks, so it is different from other areas that can experience significant price increases with new developments that can increase accessibility, such as toll roads or the Jakarta-Bandung Fast Train.
"Although the increase in the price index is stagnant, used houses in Jakarta are still the main option for property seekers who are looking for housing in the city center but at affordable prices. This is because the supply of used houses offered in Jakarta is still very diverse and has a variety of price ranges, so it can accommodate the needs or preferences of the middle, upper-middle class," said Marisa.
Of the five areas in Jakarta, South Jakarta is the most popular area with a popularity percentage in searches of 31.8%. Followed by West Jakarta 26.8%, North Jakarta 17.9%, East Jakarta 16.6% and Central Jakarta 6.9%.
To continue reading, please click link below:
https://propertiterkini.com/tren-dan-potensi-pasar-rumah-seken-di-jakarta/
The data also shows that Tangerang is the most popular area with a popularity of 15% of the total home listing inquiries in Indonesia in July. Followed by two areas in Jakarta, namely South Jakarta (11.3%) and West Jakarta (10.5%).
Ahead of the plan to move the capital city to IKN, Rumah123 also reveals the latest trends and potential of the housing market in Jakarta in the future.
Rumah123 Head of Research, Marisa Jaya, said that this month the annual popularity growth is still led by cities in Jakarta and its surroundings.
In June 2024, he said, the growth in demand (inquiries) for rented houses in Jakarta grew by 59.8% and houses for sale by 114.9% annually.
"Overall, the growth in demand for landed houses in Jakarta in June was recorded at 90.1% annually," he said.
Most Popular Searches for Second-hand Houses in South Jakarta
In terms of price, when compared to surrounding satellite cities, such as Tangerang, Depok and Bogor, price growth in Jakarta is relatively stagnant.
Throughout Semester I 2024, the growth in housing prices in Jakarta each month ranged from 0.8% to 1.4% annually, tending to be low compared to other cities, such as Bogor which ranged from 4.6% to 7.7%.
There are a number of reasons why Jakarta recorded price stagnation compared to other cities in Jabodetabek.
First, Jakarta is one of the largest centers of economic and business activity in Indonesia, so it has a high population density.
Property development in Jakarta has also been saturated so that there is no longer much development in Jakarta, especially for the housing sector.
New developments are generally apartments by maximizing limited land.
Jakarta has also been facilitated with good accessibility and public transportation networks, so it is different from other areas that can experience significant price increases with new developments that can increase accessibility, such as toll roads or the Jakarta-Bandung Fast Train.
"Although the increase in the price index is stagnant, used houses in Jakarta are still the main option for property seekers who are looking for housing in the city center but at affordable prices. This is because the supply of used houses offered in Jakarta is still very diverse and has a variety of price ranges, so it can accommodate the needs or preferences of the middle, upper-middle class," said Marisa.
Of the five areas in Jakarta, South Jakarta is the most popular area with a popularity percentage in searches of 31.8%. Followed by West Jakarta 26.8%, North Jakarta 17.9%, East Jakarta 16.6% and Central Jakarta 6.9%.
To continue reading, please click link below:
https://propertiterkini.com/tren-dan-potensi-pasar-rumah-seken-di-jakarta/
25 September 2024
Labor refuses to rule out negative gearing changes as Treasury reportedly studies housing tax
Anthony Albanese declares public service is ‘looking at policy ideas’ as report raises prospect Labor is investigating shift on housing tax concessions
Anthony Albanese has repeatedly declined to confirm or deny whether the federal government is considering changes to negative gearing, but conceded that public servants “do a range of proposals” on potential ideas.
The Nine newspapers reported on Wednesday that the government had asked Treasury to model potential changes to negative gearing concessions. The government has come under pressure from the Greens and crossbench to make changes to the property investment tax breaks, amid speculation that Labor could consider making a bold change as part of their re-election bid.
“I’m sure the public service are looking at policy ideas. That’s because we value them. But we have our housing policy. It’s out there for all to see,” Albanese said in Tasmania when asked about the report.
“What our government is considering is fixing housing supply by getting our legislation through the Senate. That’s what we’re considering … I talk about what we’re doing, not what we’re not doing.”
Negative gearing is a tax concession where investors can deduct losses from investment properties – that is, if their expenses are higher than any rent derived from the home – from their other taxable income, reducing their tax bill.
It has become a totemic policy in Australian politics, blamed by critics for raising housing prices but backed by supporters as an important setting for financial investments and rental supply.
Parliamentary Budget Office analysis, commissioned by the Greens, found tax breaks given to residential property investors will cost more than 5bn over the next decade. The Greens have been pressuring the government to wind back negative gearing concessions for people with multiple homes as part of its housing package; but following major political attacks on proposed negative gearing changes at the 2019 election, Labor has been reticent to consider such reforms.
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https://www.theguardian.com/australia-news/2024/sep/25/negative-gearing-house-tax-reform-treasury-modelling
Anthony Albanese has repeatedly declined to confirm or deny whether the federal government is considering changes to negative gearing, but conceded that public servants “do a range of proposals” on potential ideas.
The Nine newspapers reported on Wednesday that the government had asked Treasury to model potential changes to negative gearing concessions. The government has come under pressure from the Greens and crossbench to make changes to the property investment tax breaks, amid speculation that Labor could consider making a bold change as part of their re-election bid.
“I’m sure the public service are looking at policy ideas. That’s because we value them. But we have our housing policy. It’s out there for all to see,” Albanese said in Tasmania when asked about the report.
“What our government is considering is fixing housing supply by getting our legislation through the Senate. That’s what we’re considering … I talk about what we’re doing, not what we’re not doing.”
Negative gearing is a tax concession where investors can deduct losses from investment properties – that is, if their expenses are higher than any rent derived from the home – from their other taxable income, reducing their tax bill.
It has become a totemic policy in Australian politics, blamed by critics for raising housing prices but backed by supporters as an important setting for financial investments and rental supply.
Parliamentary Budget Office analysis, commissioned by the Greens, found tax breaks given to residential property investors will cost more than 5bn over the next decade. The Greens have been pressuring the government to wind back negative gearing concessions for people with multiple homes as part of its housing package; but following major political attacks on proposed negative gearing changes at the 2019 election, Labor has been reticent to consider such reforms.
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https://www.theguardian.com/australia-news/2024/sep/25/negative-gearing-house-tax-reform-treasury-modelling
12 August 2024
More Chinese nationals looking to buy high-end homes in Malaysia
KUALA LUMPUR – Malaysia is seeing a surge in Chinese nationals inquiring about multimillion-ringgit luxury homes, with investment and education opportunities driving their interest.
Several real estate firms told The Straits Times that 2024 has seen more people from China looking to buy homes, especially in Kuala Lumpur’s prime areas such as the Central Business District and leafy suburbs, including Bukit Damansara, Bangsar and Kenny Hills.
Malaysia’s relative political stability and anticipated stronger economic growth compared with a year ago have made it an attractive destination for wealthy Chinese, the firms noted, especially with other countries clamping down on education and business avenues for foreigners.
Industry players said luxury residential property usually refers to units priced at RM1 million (S0,000) and above. This is nearly twice the average price of a new apartment, which now stands at RM582,887, according to data released by global proptech firm Juwai IQI in its residential sales market report for Malaysia’s first quarter of 2024.
Every year, Juwai IQI receives thousands of inquiries from potential foreign buyers. And in the first quarter of 2024, the number of inquiries from Chinese buyers rose by 42 per cent from the preceding quarter, said its chief executive officer, Mr Kashif Ansari.
“The 42 per cent increase in inquiries by Chinese buyers resulted in a similar increase in buyers purchasing homes. They made up the largest segment of foreign buyers in Malaysia, who are generally looking to buy either landed or high-rise apartments, mainly in Kuala Lumpur and Johor, of up to RM2 million,” Mr Kashif told ST. He declined to reveal the actual figures of inquiries and homes sold, saying that it was proprietary information.
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https://www.straitstimes.com/asia/se-asia/more-china-nationals-looking-to-buy-high-end-homes-in-malaysia
Several real estate firms told The Straits Times that 2024 has seen more people from China looking to buy homes, especially in Kuala Lumpur’s prime areas such as the Central Business District and leafy suburbs, including Bukit Damansara, Bangsar and Kenny Hills.
Malaysia’s relative political stability and anticipated stronger economic growth compared with a year ago have made it an attractive destination for wealthy Chinese, the firms noted, especially with other countries clamping down on education and business avenues for foreigners.
Industry players said luxury residential property usually refers to units priced at RM1 million (S0,000) and above. This is nearly twice the average price of a new apartment, which now stands at RM582,887, according to data released by global proptech firm Juwai IQI in its residential sales market report for Malaysia’s first quarter of 2024.
Every year, Juwai IQI receives thousands of inquiries from potential foreign buyers. And in the first quarter of 2024, the number of inquiries from Chinese buyers rose by 42 per cent from the preceding quarter, said its chief executive officer, Mr Kashif Ansari.
“The 42 per cent increase in inquiries by Chinese buyers resulted in a similar increase in buyers purchasing homes. They made up the largest segment of foreign buyers in Malaysia, who are generally looking to buy either landed or high-rise apartments, mainly in Kuala Lumpur and Johor, of up to RM2 million,” Mr Kashif told ST. He declined to reveal the actual figures of inquiries and homes sold, saying that it was proprietary information.
Please go to link below to continue reading
https://www.straitstimes.com/asia/se-asia/more-china-nationals-looking-to-buy-high-end-homes-in-malaysia