Jakarta. It’s now the best time since the pandemic began to invest in property as the market regains confidence and people’s purchasing power also gains some ground, according to John Riady, the chief executive officer of property developer Lippo Karawaci or LPKR.
“Property investment is an attractive business opportunity. The right time to invest is determined by how accurately we take advantage of the existing opportunities. During today’s pandemic, people usually are afraid to invest. But now is the right time to invest and purchase a home,” John said in a recent statement.
The property sector is showing signs of recovery this year.
People's purchasing power is rising following incentives and support coming from various sectors. For instance, the extension of the government-borne value-added tax (VAT) for new home purchases until June 2022.
As the sector picks up, property companies will be able to record better performances and eventually help get Indonesia’s economy back on its feet. The property market, investment, and end-users also show potential for growth during this momentum.
Real estate agency Colliers International Indonesia recently projected that the property sector would recover this year, with the macroeconomic movements in end-2021 as one of its indicators.
The discussion on the government-borne VAT for under-construction houses is a huge opportunity for developers and investors. Landed houses, whose need remains high, really feel the impact of the tax incentives.
According to John, the property sector, particularly landed houses, will witness a speedy recovery in 2022, making the sector an attractive choice for an investment.
LPKR is offering various property products as tools of investment.
Among others is the Cendana Homes Series.
LPKR first launched the Cendana Homes during the Covid-19 pandemic, at an affordable price starting at Rp 560 million (about $39,133). In just two years, the unit sales price has topped Rp 700 million.
John said that LPKR would continue to provide innovative products as an option for property investment.
"Now is the right time to invest -- buy when the market is down, not when the market is high," he said.