The year 2024 is set to be a fast recovery period for the property industry. According to Bank Indonesia, the Residential Property Price Survey (SHPR) indicates that residential property prices in the primary market increased annually in the third quarter of 2023. The Residential Property Price Index (IHPR) in Q3 2023 grew by 1.96% (year-on-year).
According to the Coordinating Minister for Economic Affairs, Airlangga Hartarto, the property sector is a key driver of Indonesia's economic growth. He noted that during the first half of 2023, Indonesia's economy grew by 5.17%, with inflation at 3.27%. He also highlighted that home sales grew by 15.11% during this period, showing improvement after the property sector was severely impacted during the COVID-19 pandemic.
This positive outlook is further supported by the exemption of Value-Added Tax (VAT) on house purchases, with the government covering the VAT for homes priced up to IDR 5 billion. A full VAT exemption applies from November 2023 to June 2024 for new houses priced at IDR 2 billion. For homes priced at IDR 5 billion, only IDR 2 billion is fully covered. Starting from July 2024, the government will cover 50% of the VAT.
Alim Gunadi, CEO of PT Damai Putra Group, stated, "Property growth in 2024 will be characterized by emerging trends that adapt to the dynamics of the property market, such as the increasing digitalization of marketing to capture millennial consumers. In line with this, Damai Putra Group continues to expand its portfolio to boost property growth, especially in the eastern corridor of Jakarta, along with innovations and purchasing ease through partnerships with leading banks to encourage Generation Z and millennials to #NowIsTheTimeToBuyProperty."
Millennials aged 25 to 34 are becoming the primary force in the property market. This generation plays a key role in driving property purchases, and to support this, Damai Putra Group has partnered with dozens of banks to encourage millennials to buy property. Given that most home purchases are still financed through mortgages (KPR), this collaboration is a strategic move to facilitate sales.
“Damai Putra Group offers partnership schemes with multiple banks to make it easier for millennials to buy homes, providing bank interest rates starting at 2.6%. We hope that this collaboration will benefit both parties and strengthen the relationship between Damai Putra Group and the banks,” said Binsar Pandiangan, Chief Sales & Marketing Officer of Damai Putra Group.
As one of Indonesia's largest property developers with over 42 years of experience, Damai Putra Group continues to grow, providing quality residential and commercial properties in Greater Jakarta (Jabodetabek), Central Java, and East Java. As the developer of Kota Harapan Indah, Damai Putra Group offers strategic property products in East Jakarta, connected to five toll roads: Pulo Gebang, Bintara, Bekasi Barat, Kelapa Gading, and Cakung tolls. Public transportation options include Transjakarta, Damri, KRL, and the upcoming MRT development. Residents enjoy convenient mobility, with just a 25-minute drive to the city center.
Damai Putra Group has successfully developed three major areas in Bekasi: Kota Harapan Indah (2,200 hectares, with 800 hectares already developed), Segara City (110 hectares), and Tera Damai (100 hectares). Beyond Jabodetabek, in Yogyakarta, they launched Casa Grande, Vasana, and Green Hills residences, while in Sidoarjo, they developed Delta Sari Indah, Delta Sari Baru, Grand Delta Sari, and Graha Tirta. Damai Putra Group continues to offer various residential and commercial options with attractive deals, especially for those purchasing houses, shop houses, lots, and apartments.
The company provides a range of easy payment options, along with several promotions, including purchasing property with a down payment of only IDR 10 million, fully furnished units, subsidies for KPA fees, and BPHTB tax fee subsidies.
