{
    "success": true,
    "data": {
        "id": 1581498,
        "msgid": "iran-us-israel-conflict-escalates-property-market-apprehensive-1772450235",
        "date": "2026-03-02 17:14:08",
        "title": "Iran-US-Israel Conflict Escalates, Property Market Apprehensive",
        "author": "Hilda B Alexander",
        "source": "KOMPAS",
        "tags": "",
        "topic": "Economy",
        "summary": "Escalating conflict between Iran and the US-Israel alliance threatens Indonesia's property sector through multiple economic channels. Real Estate Indonesia Vice-Chairman Bambang Ekajaya warns of direct impacts via rising fuel and construction material costs, as well as indirect effects from global economic instability including currency depreciation and declining consumer purchasing power, which could trigger layoffs and dampen property demand.",
        "content": "<p>Jakarta\u2014The escalating conflict in the Middle East is considered\npotentially destabilising for Indonesia\u2019s property sector\ndomestically.<\/p>\n<p>Bambang Ekajaya, Vice-Chairman of Real Estat Indonesia (REI) and\nproperty practitioner, stated that the effects of global conflict could\nbe felt directly and indirectly on the property industry.<\/p>\n<p>According to Bambang, the most immediate impact stems from rising\nfuel prices which trigger increases in transportation costs. \u201cDirectly\nit affects transportation costs. As fuel prices rise, haulage costs\nincrease. Given that all construction materials are heavy\u2014cement, sand,\nsteel, ceramics and so forth\u2014this will impact construction costs,\u201d\nEkajaya told Kompas.com on Monday, 2 March 2026.<\/p>\n<p>He continued that increased material distribution costs will\nautomatically drive up property prices, particularly if conflict\npersists and global oil prices breach three digits per barrel again.<\/p>\n<p>\u201cSo automatically property prices will rise if the war drags on and\nglobal oil prices hit three digits per barrel again,\u201d he said.<\/p>\n<p>Ekajaya even suggested oil prices could spike dramatically if\nconflict does not quickly ease. \u201cOil is forecast to rise tenfold if the\nwar continues. Property suddenly has no price,\u201d he stated.<\/p>\n<p>Beyond direct impacts on construction costs, Ekajaya also highlighted\nindirect effects from global economic instability. Global economic\nturbulence could pressure the rupiah exchange rate and slow economic\ngrowth. This could ultimately lead to increased redundancies and\ndeclining consumer purchasing power.<\/p>\n<p>\u201cUltimately there will be many layoffs, purchasing power drops, and\nthe property market will also be hit hard. Prospective property buyers\nwill adopt a wait-and-see stance,\u201d Ekajaya said.<\/p>\n<p>Earlier, Kompas.com reported that Iran was targeted by Israeli and US\nattacks on Saturday, 28 February 2026, local time. Israel was the first\nto confirm that the country officially attacked Iran. Shortly\nthereafter, US President Donald Trump officially announced that the\nUnited States had joined Israel in attacking Iran.<\/p>\n<p>The Israeli and American war with Iran was marked by missiles raining\ndown on Tehran\u2019s skies. Several rockets struck several strategic\nlocations, including residences in the Narmak neighbourhood of Tehran\nwhere former president Mahmoud Ahmadinejad resides.<\/p>\n<p>Iran immediately retaliated against Israeli and US attacks by\nlaunching missiles at locations linked to US military operations,\nincluding Al Udeid Air Base in Qatar, Al-Salem Air Base in Kuwait,\nAl-Dhafra Air Base in the United Arab Emirates, and the headquarters of\nthe US Fifth Fleet in Bahrain.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/iran-us-israel-conflict-escalates-property-market-apprehensive-1772450235",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}