Jakarta holds its breath | Bangkok Post: business

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Jakarta holds its breath

Property market still lively but growth slows while investors await outcome of presidential polls.

  • Published: | Viewed: 783 | Comments: 0
  • Newspaper section: Asia focus
  • Writer: Ismira Lutfia Tisnadibrata
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Indonesian property developers will see slower growth this year while the country awaits the outcome of the presidential election, though the market is expected to pick up again once a new president is chosen in July. 

A recent report by Moody’s Investors Service said the Indonesian property market continued to see challenges in 2014 due to the elections, higher mortgage rates, tighter mortgage financing and slower gross domestic product (GDP) growth.

The country’s GDP grew by 5.2% year-on-year in the first quarter, respectable by regional standards but still lower than forecasts.

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