Jakarta, hitclubapk3 Indonesia
—
Developer circles
property
confirmed the Minister of Finance’s statement
Purbaya Yudhi Sadewa
which mentions demand in the sector
housing
weakened.
However, Deputy General Chair of the Indonesian Real Estate DPP (REI) Bambang Ekajaya assessed that this condition was not only caused by declining purchasing power, but also due to a wave of layoffs (PHK) in a number of sectors.
“Actually, the weakening in the housing sector occurred because of the weakening of our economy,” said Bambang
hitclubapk3Indonesia.com
, Friday (7/11).
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“At the beginning of the first quarter, housing was actually still moving up at double digits, but towards the third quarter there was a downward trend. The growth was increasing
single digits
“, but there is still positive growth, there is only weakening,” he explained further.
According to Bambang, the government has actually provided a lot of support for the property sector.
He gave the example of the Government Borne Value Added Tax (PPN DTP) policy which is still in effect until 2027 as well as the People’s Business Credit (KUR) Housing scheme which is now not only targeting consumers, but also medium-scale developers.
This scheme, said Bambang, allows medium developers to obtain four times the loan ceiling of up to IDR 5 billion, or a maximum total of IDR 20 billion, with interest that is partially subsidized by the government at 6 percent.
Through this mechanism, developers are expected to continue to be able to build public housing projects with lower capital costs amidst market pressure.
“This means that the government has done a lot to accelerate the growth of the property sector, only
problems
“The reason is that people’s purchasing power has decreased and there have been layoffs in several sectors, resulting in a weakening of the housing sector,” he explained.
Bambang assesses that the next step the government needs to take is to accelerate economic recovery so that growth can return to strength and create more job opportunities.That way, people’s purchasing power can recover and demand for housing increases again.
“So the main thing for the government is of course to increase economic growth so that the target of 8 percent can be achieved, thereby creating massive employment opportunities. Ultimately, people’s purchasing power will increase so that the property sector will increase,” he said.
He also emphasized the importance of the property sector as a driver of the national economy because it involves hundreds of derivative industries and is dominated by domestic products.
“Don’t forget that the property sector, especially housing, is the locomotive of 187 industries, and the local content is practically 100 percent,” he said.
Previously, Purbaya revealed that the low absorption of government funds by Bank Tabungan Negara (BTN) reflected weak economic activity in the property sector.
In a working meeting with Committee IV DPR RI in Jakarta, Monday (3/11), he said that BTN was only able to distribute IDR 4.8 trillion from the total placement of funds of IDR 25 trillion or around 19 percent as of September 30 2025.
“This illustrates
demand
“In fact, the housing sector is weak, so I thought, ‘Wow, we’re in serious trouble,'” said Purbaya.
He believes that the sluggish distribution of housing loans cannot be separated from the lack of recovery in people’s purchasing power.
However, Purbaya is optimistic that the sluggish condition of the housing sector is temporary.He estimates that people’s income will improve gradually until 2026, as the circulation of money in the national financial system increases and economic activity recovers.
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