The latest market insight about all property market sectors, including office building, retail, and industrial space
Despite the vaccination, as the pandemic case tends to increase by end of this quarter, there is the possibility that government would impose another restriction, especially on the red zone like Jakarta. Shall such restriction take place, business activities would undergo further slowdown that could trigger the government to revise their economic growth target to below 4.0% for 2021Download PDF PDF | 1.90MB
The “X-Factor” that Brings Down the Jakarta Property Market
The COVID-19 pandemic has led to panic and potential recession. Numerous business sectors start to get affected as well as property sector.
Further Restriction, Further “Delay” of Business Operational Improvement.
During the implementation of “New Normal” in the previous quarter, business activities contracted as operations resumed. However, surging case of Covid-19 in Q3 2020 urged Jakarta Governor to impose further restriction to 25% of capacity in September, bringing business to further decelerate.