JAKARTA: The average condominium selling price on Jakarta non-central business district (CBD) during Q1/2012 increased 12% compared to previous three months.
Data from property research institute, Coldwell Banker, showed the average selling price of condominiums on non-CBD reached IDR12.4 million a meter square in QI/2012, whereas the CBD reached IDR19.17 million. In total, the increase in condominium prices during the period reached 10%.
Coldwell Banker Research and Consultancy Manager Meyriana Kesuma said the price increase is significant enough to indicate that the condominium demands in Jakarta is still reasonably high.
The same data provided the detailed data of the total condominium sales during Q1/2012 which reached 95.81% or approximately 2.543 units. The existing condominium project booked 97.5% sales rate, while which are still being constructed reached 75.85%.
Currently, the condominium supply hit 82,448 units following new supplies from The Wave consisting of Coral Tower, Gandaria Height tower B, Paragon Village, and the Regatta with its fourth tower Rio de Janeiro.
Meyriana estimated during 2012, the condominium demand will keep increasing as apartment mortgage rates remain attractive and consumer lifestyles which prefer an ease in access. Thus, she was sure the sales will keep growing.
He added that the condominium demand on outskirts of Jakarta has also increased due to reduced available land and higher land prices as well as an established business center in several area of the city. (T07/aph)