As consumers’ purchasing power recovers, the selling price of secondary house in the Elite area of DKI Jakarta is predicted to continue to climb. The price of this used house had previously fallen freely due to the Covid-19 pandemic.
Since the Covid-19 pandemic took place, the selling price of second-hand houses in the Jakarta area has continued to decline due to increased supply, but little demand.
Head of DPD Arebi DKI Jakarta, Clement Francis, said the trend of cheap secondary house prices in elite areas such as Pondok Indah, Pantai Indah Kapuk (PIK), Menteng, and Kelapa Gading will not continue in 2023.
Meanwhile, sales of second-hand homes in Jakarta’s elite areas will continue, supported by increased purchasing power and restored confidence in consumption levels, as indicated by current national economic growth.
According to him, the sale of cheap second-hand houses is due to the decline in people’s purchasing power over the past 2 years. Consumers tend to delay purchasing or investing in property.
“So those who buy this must have a need and those who are delaying buying property or investment are now starting to buy again because they see that Indonesia’s economic conditions are getting more conducive,” he explained.
As is known, the sale of second-hand houses on the buying and selling platform Rumah123.com in November 2022 shows quite competitive prices in the elite area of Jakarta.
For example, a house in Pondok Indah with a selling price of around IDR 44 billion for a 2-story, 4 bedroom, 2 bathroom house. Likewise in the Kelapa Gading area, luxury homes are sold at prices in the range of Rp. 30 billion and above for a 2-story house with 3 bedrooms and 2 bathrooms.
Meanwhile, in the Menteng area, Central Jakarta, the selling price of second-hand luxury houses is in the range of Rp. 50 billion for a 2-story, 4-room, and 3-bathroom house.
Clement emphasized that the selling price does not mean that the sale is cheap, but rather that there is an imbalance between demand and supply. However, he confirmed that currently purchasing power has recovered and selling prices have returned to normal.
