Fri, 29 Aug 2008
Dini Priadi, Marketer

Property developers have ceaselessly advertised their latest condominiums. In Jakarta - especially in South Jakarta and the central business district (CBD)at least 6,422 units of 19 new projects were offered in the January-June 2008 period alone.

In the same period, 8,500 residential estate units were offered in Greater Jakarta. As seen in the graphs, sales rates of both landed houses and condominiums in area continue to increase.

Is it now the right time to buy? Not so fast. If you are indeed considering buying condominium units anytime soon, you may need to look into at least seven things before making a decision.

First, be proactive and never rush. Determine what you need, never fall far heavenly offeringsconcept, yield, special prices -during promotional periods.

It is always wise to actively collect all data about the properties you are considering. Discuss the matter with your spouse, family or someone that can give you a second opinion.

Second, you need to be clear on the kind of property you want to buy - whether it be a condominium, strata-title apartment, or town house. What is your motivation for making the investment; to support your retirement, or to acquire savings? Will you occupy the property or will you rent it out? If the first, will it be your first or second home?

If you are the occupier, then you are the end user. If so, you need to find a home suitable for the size of your family. Take some time to define your dream house with your family.

If you plan to rent your property out, you need to consider who will rent it, whether they will be expatriates, business executives or studentseach may have different market needs or cultures.

Third, make a realistic schedule for meeting with marketing agents of property developers. During the meetings, make sure you find out information on the following: Legal aspects, including buying procedures, signing of the selling-buying contract (PPJB), provisions to be agreed on and payment procedures, including down payments and bank loan installments.

With regard to loan payments, you need to choose a reliable bank that offers more than just low interest.

Fourth, find a win-win solution. Buying property is your aim and also your family's aim, and the purchase must benefit your future.

To achieve this, you need to understand all points of the agreement you sign with the developer, bank, contractor and any other parties involved in the transactions.

Fifth, how will you benefit from the property? Make sure you fully understand the type of property you are buying and how your family will benefit from it.

You need to find out how offers vary between strata-title apartments, town houses and landed houses and decide which suits you best.

Sixth, your home is the place for you to create synergy. Make sure your new property will cultivate positive synergy within your family and with your neighbors and the community.

In other words, a place where you can feel "home sweet home"; where you can enjoy interacting with the people you love.

Seventh, rejuvenation. Another important matter to consider is how you will develop your property in the future.

For a property that is still under construction, it is a good idea to investigate the developer's track record.

Regardless of your reasons, you need to take into account the location and accessibility of your property and its yields and capital gains.

Will it be in the CBD near your office, or in a prime residential area or in a suburb. Most importantly, the payment system you use to buy the property must reflect your income and budget.

Amid a time of land scarcity and rising demand for property, it is a smart move to buy property, whether for investment or living purposes.

A property has the potential to multiply capital gains or cash flow if leased out.

The writer heads the marketing team at Procon Indah.



News Search/Filter
Transaction Rates
20 Jul 18
Buy
Sell
AED1
3,896.92
3,896.92
AFN1
200.19
200.19
ALL1
132.25
132.25
AMD1
29.80
29.80
ANG1
7,753.14
7,753.14
AOA1
56.09
56.09
ARS1
516.17
516.17
AUD1
10,538.71
10,538.71
AWG1
8,003.39
8,003.39
AZN1
8,407.69
8,407.69
BAM1
8,481.07
8,481.07
BBD1
7,157.05
7,157.05
BDT1
169.28
169.28
BGN1
8,522.28
8,522.28
BHD1
37,822.48
37,822.48
BIF1
8.07
8.07
BMD1
14,314.10
14,314.10
BND1
9,475.38
9,475.38
BOB1
2,070.16
2,070.16
BRL1
3,737.26
3,737.26
BSD1
14,314.10
14,314.10
BTC1
106,795,836
106,795,836
BTN1
207.40
207.40
BWP1
1,381.06
1,381.06
BYN1
7,156.71
7,156.71
BZD1
7,116.96
7,116.96
CAD1
10,793.96
10,793.96
CDF1
8.87
8.87
CHF1
14,331.04
14,331.04
CLF1
592,471.40
592,471.40
CLP1
21.56
21.56
CNH1
2,110.46
2,110.46
CNY1
2,113.56
2,113.56
COP1
5.02
5.02
CRC1
25.22
25.22
CUC1
14,314.10
14,314.10
CUP1
561.33
561.33
CVE1
150.20
150.20
CZK1
643.47
643.47
DJF1
80.41
80.41
DKK1
2,238.62
2,238.62
DOP1
287.22
287.22
DZD1
121.41
121.41
EGP1
799.55
799.55
ERN1
953.59
953.59
ETB1
518.49
518.49
EUR1
16,682.46
16,682.46
FJD1
6,824.66
6,824.66
FKP1
18,641.02
18,641.02
GBP1
18,641.02
18,641.02
GEL1
5,846.44
5,846.44
GGP1
18,641.02
18,641.02
GHS1
2,990.30
2,990.30
GIP1
18,641.02
18,641.02
GMD1
297.90
297.90
GNF1
1.57
1.57
GTQ1
1,909.20
1,909.20
GYD1
68.37
68.37
HKD1
1,823.55
1,823.55
HNL1
595.99
595.99
HRK1
2,255.76
2,255.76
HTG1
211.97
211.97
HUF1
51.09
51.09
IDR1
1.00
1.00
ILS1
3,930.86
3,930.86
IMP1
18,641.02
18,641.02
INR1
207.61
207.61
IQD1
12.00
12.00
IRR1
0.32
0.32
ISK1
134.25
134.25
JEP1
18,641.02
18,641.02
JMD1
108.90
108.90
JOD1
20,174.83
20,174.83
JPY1
127.38
127.38
KES1
142.07
142.07
KGS1
209.76
209.76
KHR1
3.52
3.52
KMF1
33.81
33.81
KPW1
15.90
15.90
KRW1
12.60
12.60
KWD1
47,226.94
47,226.94
KYD1
17,165.83
17,165.83
KZT1
41.32
41.32
LAK1
1.69
1.69
LBP1
9.45
9.45
LKR1
89.51
89.51
LRD1
88.87
88.87
LSL1
1,078.27
1,078.27
LYD1
10,373.48
10,373.48
MAD1
1,510.46
1,510.46
MDL1
859.48
859.48
MGA1
4.25
4.25
MKD1
270.80
270.80
MMK1
9.95
9.95
MNT1
5.86
5.86
MOP1
1,769.29
1,769.29
MRO1
40.26
40.26
MRU1
399.16
399.16
MUR1
415.98
415.98
MVR1
928.88
928.88
MWK1
19.70
19.70
MXN1
751.88
751.88
MYR1
3,523.47
3,523.47
MZN1
243.06
243.06
NAD1
1,079.90
1,079.90
NGN1
39.58
39.58
NIO1
450.76
450.76
NOK1
1,740.17
1,740.17
NPR1
129.62
129.62
NZD1
9,657.80
9,657.80
OMR1
37,183.94
37,183.94
PAB1
14,314.10
14,314.10
PEN1
4,365.42
4,365.42
PGK1
4,345.18
4,345.18
PHP1
266.93
266.93
PKR1
111.06
111.06
PLN1
3,842.48
3,842.48
PYG1
2.49
2.49
QAR1
3,931.36
3,931.36
RON1
3,584.45
3,584.45
RSD1
141.40
141.40
RUB1
224.80
224.80
RWF1
16.46
16.46
SAR1
3,816.73
3,816.73
SBD1
1,810.81
1,810.81
SCR1
1,056.98
1,056.98
SDG1
794.59
794.59
SEK1
1,608.36
1,608.36
SGD1
10,456.54
10,456.54
SHP1
18,641.02
18,641.02
SLL1
2.19
2.19
SOS1
24.69
24.69
SRD1
1,919.29
1,919.29
SSP1
109.88
109.88
STD1
0.68
0.68
STN1
675.19
675.19
SVC1
1,634.69
1,634.69
SYP1
27.79
27.79
SZL1
1,061.09
1,061.09
THB1
427.92
427.92
TJS1
1,517.73
1,517.73
TMT1
4,089.76
4,089.76
TND1
5,416.66
5,416.66
TOP1
6,193.66
6,193.66
TRY1
2,976.23
2,976.23
TTD1
2,122.36
2,122.36
TWD1
466.45
466.45
TZS1
6.28
6.28
UAH1
545.00
545.00
UGX1
3.82
3.82
USD1
14,314.10
14,314.10
UYU1
459.14
459.14
UZS1
1.83
1.83
VEF1
0.13
0.13
VND1
0.62
0.62
VUV1
131.65
131.65
WST1
5,529.81
5,529.81
XAF1
25.43
25.43
XAG1
219,377.65
219,377.65
XAU1
17,513,898.30
17,513,898.30
XCD1
5,296.51
5,296.51
XDR1
20,003.03
20,003.03
XOF1
25.43
25.43
XPD1
13,127,513.16
13,127,513.16
XPF1
139.79
139.79
XPT1
11,572,848.46
11,572,848.46
YER1
57.19
57.19
ZAR1
1,056.66
1,056.66
ZMW1
1,454.51
1,454.51
ZWL1
44.40
44.40
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services