Govt issues new decree on apartment sales<\/p>\n
JAKARTA (JP): Minister of Public Housing Akbar Tandjung
\nannounced on Saturday that his office has issued a new decree to
\nregulate sales launching of vertical housing, in order to protect
\nconsumers.<\/p>\n
The new regulation is issued in response to the rising number
\nof property sales of apartments, even though the construction of
\ntheir facilities have not yet been completed and in many cases
\ndevelopers have not started the projects at all, the minister
\nsaid.<\/p>\n
Many potential buyers were reported recently to over-buy many
\nmiddle and upper-class apartments in Jakarta regardless of the
\nfact that the facilities have not yet been built.<\/p>\n
This can be seen in the Taman Rasuna apartment project, owned
\nby the Bakrie Group. The apartments were sold out because of
\ntheir \"cheap\" prices even though the developers had not yet
\nreceived the proper government permits.<\/p>\n
\"The new decree is expected to be beneficial to both
\ndevelopers and buyers,\" Akbar said. Developers can get funds for
\nthe construction of apartments and at the same time buyers can
\npay the apartments on an installment basis.<\/p>\n
Speaking at a get-together to inform the issuance of the
\ndecree, Akbar said the decree is very important in that it
\nprotects buyers against any problems that may arise after
\nagreements for the procurement of apartments are signed.<\/p>\n
The meeting was attended by 50 representatives from
\nvarious government offices, including the office of the Minister
\nof Public Housing, the Ministry of Public Works, regional
\nadministrations throughout Indonesia, the Indonesian Real Estate
\nAssociation and the Indonesian Consumers Protection Foundation.<\/p>\n
Akbar said that development of vertical housing in Indonesia,
\nespecially in Jakarta, advanced rapidly due to the intention to
\nmaximize the usage of lands.<\/p>\n
Kosmian Pudjiadi, an executive of the Indonesian Real Estate
\nAssociation, said at the meeting that the number of apartments,
\nwhich are expected to reach 4,000 middle and upper-class
\napartments in Jakarta by the end of this year, will jump to
\n34,000 apartments by the end of 1997.<\/p>\n
Total investments for the construction of all these apartments
\nare estimated at Rp 3.4 trillion (US$1.55 billion), he said.<\/p>\n
Soeharto, an assistant to the Minister of Public Housing, said
\nthat as part of this buying spree phenomenon, people are willing
\nto buy in advance without understanding their rights.<\/p>\n
\"Consumers are willing to buy apartments before construction
\nis begun, and in many cases they are even ready to stand in long
\nlines for their turn to sign the purchase agreements,\" he said.<\/p>\n
The new ministerial decree stipulates that developers are
\nobliged to obtain proper government permits first, before
\nstarting the sales launching.<\/p>\n
Another executive of the real estate association, Herman
\nSoedarsono, said that hopefully this new decree would solve
\nproblems which happen at the time of preliminary purchase as well
\nas to protect consumers.<\/p>\n
\"There are several developers who have no proper government
\npermits but they have already introduced their businesses by
\nparticipating in a number of real estate exhibitions,\" Herman
\nsaid, adding that the decree will restrict other developers from
\ndoing so because such actions only gives the real estate
\nassociation a bad name. (yns)<\/p>\n
YLKI -- Page3<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/govt-issues-new-decree-on-apartment-sales-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }