In an interview with Asian Property Review, Juwai IQI Co-Founder and Group CEO Kashif Ansari is optimistic about Indonesia’s outlook.
Indonesia is benefiting from strong economic ma nagement and commodity prices, but the real estate market also faces headwinds from inflation and interest rates.
Indonesia has managed a challenging global economic environment in relatively good shape. Growth is healthy, inflation falling and the financial system stable. Healthy commodity prices should help deliver a n economic growth rate of about 6% for the year.
We expect modest residential condo real estate price growth of less than 4% and a double-digit increase in sales volume
We forecast 5% growth in the retail sector, prime locations will continue to attract strong foot traffic, in part thanks to relatively limited launches of new space to the market. There may be room for new developments, particularly in major cities such as Jakarta and Surabaya.