Already checked<\/p>\n
;JP;
\nANPAc..r..
\nFocusissue-Spore-living<\/p>\n
I. Christianto
\nContributor
\nJakarta<\/p>\n
More and more Indonesians buy S'pore apartments<\/p>\n
Singapore is not only a favorite place for shopping, but it
\nhas also become a favorite place to live either for business or
\nfor study purposes.<\/p>\n
Many Indonesians have even regarded the island nation as their
\nsecond home country.<\/p>\n
The country's proximity, which is less than a two-hour flight
\nfrom Jakarta, is the main factor which lures many Indonesians to
\nstay or study there.<\/p>\n
This explains why the demand from Indonesian citizens wanting
\nresidential property in the neighboring country continues to
\nincrease from year to year. At present, most Indonesians are
\nattracted to buy property there not for investment, but for
\nthemselves or their children.<\/p>\n
\"The trend now shows that not only the upper class want to own
\nproperties in Singapore, but also the middle class. The main
\nreason is for family accommodation, not solely for investment
\nanymore,\" Dina Pattiasina, director of residential property
\nconsultant Colliers Jardin, told The Jakarta Post.<\/p>\n
At present more and more Indonesians are sending their
\nchildren to study in Singapore at a younger age. \"Previously,
\nmany citizens of this country sent their children to undertake
\ncollege or university in Singapore, but now they want their
\nchildren to enroll at Singapore's elementary schools and even
\nkindergartens. Many prefer to stay and live in Singapore with the
\nparents, or at least their mothers.\"<\/p>\n
As the interest to stay in Singapore grows, the choices of
\nresidential areas has also undergone a major change. In the past,
\nIndonesians mostly bought properties in favored locations. But
\nresidential properties in suburban locations have become one of
\nthe choices.<\/p>\n
\"The top end people, with big budgets, usually buy properties
\nin popular areas which include districts nine, 10 and 11 in
\ncentral Singapore. But those with lower budgets prefer to buy in
\nsuburban areas where properties are cheaper,\" she said.<\/p>\n
She said property prices in prime areas might range between
\nS$1 million and S$3 million (Rp 17.5 billion), while the
\nproperties in the suburban areas between S$600,000 (Rp 3.5
\nbillion) and S$700,000.<\/p>\n
It is interesting to find that some Indonesians are also
\nattracted to buy properties in Johor Bahru, Malaysia, if they
\ncannot afford Singapore property, according to Dina.<\/p>\n
\"Johor is about 40 minutes drive by car from Singapore and
\nproperty prices in Johor are cheaper than in Singapore,\" she
\nsaid, adding that Collier is currently marketing some Johor
\nprojects in Indonesia.<\/p>\n
Colliers recently started a promotion of the 9 Nasim Road and
\nthe Cairn Hill apartments and got positive responses from
\nIndonesians.<\/p>\n
\"There were some 200 calls per day after we advertised
\nthe properties. Compared to Australian properties, which we also
\nhandled, there were only 50-100 calls per day asking for more
\ninformation,\" she said.<\/p>\n
She added that Indonesian buyers commonly trusted the
\nSingapore property, in many aspects. \"In addition, there's no
\nbureaucratic approval for loans up to 60 percent (of the total
\nproperty price). There is now a new regulation allowing
\nforeigners to get loans in Singapore dollars for the
\ninstallments,\" she said.<\/p>\n
Associate director of property consultant Procon Indah, Deden
\nSudarbo, said his company also got a positive response when
\npromoting and marketing Singapore properties in Indonesia.<\/p>\n
\"We find many Indonesians are very familiar with some
\nlocations in Singapore. Some of them also want to go to see the
\nproperties or projects firsthand,\" he said.<\/p>\n
Both Dina and Deden agreed that most Indonesians
\nwere generally interested in properties in prime locations as
\nsuch apartments allows ready access to the central business
\ndistricts, schools or hospitals. But when they have limited
\nbudgets, they will also go to the secondary areas.<\/p>\n
\"Many Indonesians are interested in owning three-bedroom
\napartments. Some parents are sending more than one child to study
\nin Singapore, and they usually visit them on weekends,\" Dina
\nsaid.<\/p>\n
And, according to Deden, it is common for Indonesians to
\ngather or to travel in groups with the extended family, therefore
\nthey mostly want three-bedroom units.<\/p>\n
Deden said that Singapore property prices are currently
\nsinking as many expatriates left the country following the Sept.
\n11 attacks in the U.S. last year.<\/p>\n
He said demand in the third quarter of 2001 was affected by
\nthe increased repatriation of overseas staff which led to a
\nincrease in the number of lease terminations.<\/p>\n
He added rental rates dropped by 1.9 percent while selling
\nprices dropped by 10.4 percent in the period.<\/p>\n
Singapore property price are lower at present, but Deden
\nestimated that the sector would recover again, although it would
\ntake a while for the industry to reach the peak level of a few
\nyears ago.<\/p>\n
Collier also said the premium residential market, in the third
\nquarter 2001, suffered a two-way blow (from the seller's
\nstandpoint) due to the consequences of the Sep. 11 tragedy. A
\ndirect consequence, there were immediate reconfiguration in
\nexpatriate movements in the world wherein many professionals were
\neither repatriated or reassigned to different locations.<\/p>\n
The situation also took place in Singapore and this weakened
\ndemand for property. \"To add to (my) woes, was the country's weak
\neconomic climate that resulted in business retrenchments and poor
\nconsumer confidence.\"<\/p>\n
Over the next 12 months, Colliers expects the rental market to
\nremain steady.<\/p>\n
Though many Indonesians trust Singapore property companies far
\nmore than they do Indonesian developers, one still needs to
\nprepare several things before deciding to buy.<\/p>\n
There are some points advised by Colliers' Dina Pattiasina and
\nProcon's Deden Sudarbo:
\n* Check the locations, the prime areas are districts nine, 10,
\nand 11. Apartments in these districts will be easily resold at
\nany time.
\n* Choose an apartment which is located near public transportation
\nsuch as bus routes or an MRT (subway) station.
\n* Check the land titles; whether an apartment has the 99-year,
\n999-years or free hold title. Any title relates with the prices.
\n* Generally the government controls the payment system, but it
\nwill be wise to check the off-plan projects and company profiles
\nof developers.
\n* Check the design of the apartment; do you really like the
\nstyle?
\n* Check the price; especially when there is a cheap used
\napartment offered to you, is it an HDB (government housing) flat?
\n* Ask for a rental guarantee though many developers are now
\nreluctant to offer it.
\n* Find out about the legal and payment systems as well as
\ntaxation, tax implications and how to get loans.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/balready-checkedb-1447893297",
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