The growth of the property sector in Indonesia in 2024 shows positive numbers, increasing by 6% compared to the previous year. According to CEO Leads Property, Hendra Hartono, the latest data shows that in the first quarter (Q1) of 2024, investment in the property sector reached Rp 29.4 trillion, an increase of 6% compared to the same period in 2023. Overall, investment in Indonesia increased by 22% compared to Q1 last year. The property sector itself contributed 7% of the total national investment of Rp 401.5 trillion.

Sub-sectors that have greatly contributed to the growth of the property sector this year are landed houses, retail, and industrial and logistics. Landed houses still dominate the housing sector in Indonesia, with higher sales figures compared to condominiums. According to Hendra, the landed house sector outperforms condominiums and tends to favor low-rise buildings over high-rise ones.

In the retail sector, visits to shopping centers or malls have increased significantly compared to the COVID-19 pandemic period. The industrial and logistics sectors have also experienced growth, mainly driven by increased activity in data centers and the automotive industry. The high occupancy rate of malls indicates an increase in the number of visitors compared to the pandemic period.

The Jakarta, Bogor, Depok, Tangerang, Bekasi, and Karawang areas remain the regions with the most significant increase in the property sector, supported by Jakarta's dominance in Indonesia's economic activities.

Overall, the property sector in Indonesia shows a positive growth trend with significant contributions to total national investment. Jakarta is predicted to remain the main business and financial center in Indonesia, maintaining its position as the country's economic hub.

Source: detik.com