Over IDR 1 Billion House Search Increases During Pandemic

  Property

The pattern of consumer behavior that migrates massively to digital media is a momentum that also drives the growth of the property market in the second quarter of 2022. This behavior encourages an increase in interest in property investment among the public.

The demographics of the property search market also show interesting changes. As a strategic economic center, the Greater Jakarta area is still the main choice for property seekers.

Based on the 99 Group index in the first semester of 2022, it was recorded that 62 percent of Rumah123.com users were looking for properties in the Greater Jakarta area, with 31 percent of them focusing on the Jakarta area.

In terms of price, properties that are marketed between Rp. 400 million to Rp. 1 billion are still the most sought after by more than 40 percent of consumers today.

VP of Finance-Strategy and IR Role 99 Group Indonesia Timothy Alamsyah said a unique trend also occurred for properties in the Rp1-Rp5 billion price range, which experienced a growth in the share of interest.

In addition to price, the 99 Group consumer survey proves that location and facilities are still the top priority for consumers when buying property.

Buying property using a bank credit or mortgage method is still the main choice for consumers, with hard cash being another alternative that is quite attractive.

Directly proportional to the data, discounted prices are the promotions that consumers expect the most from developers.

MASGROUP Director Suwandi Tio added that to attract consumers’ attention, developers can focus on providing price promotions and Home Ownership Loans (KPR), both in the form of discounts and cashback .

“Meanwhile, consumers can take advantage of mortgage promos from developers who work with banks,” he explained.

Furthermore, Kelvin explained that the digital marketing strategy was also adopted by property businesses to reach consumers who are now actively looking for housing online.

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