New condominiums sell like hotcakes<\/p>\n
T. Sima Gunawan, Contributor, Jakarta<\/p>\n
Apartment units, be they mid-market or exclusive, are selling
\nlike hotcakes. When it comes to comfort, money apparently does
\nnot matter.<\/p>\n
A number of developers contacted by The Jakarta Post confirmed
\nthat their properties were selling well. Interestingly, many
\npeople are so eager they buy units long before construction is
\ncompleted.<\/p>\n
The Capital Residence, which opened just last month, says 40
\npercent of its 258 exclusive apartments, including its six
\npenthouses, have been sold.<\/p>\n
The units, between 151 square meters and 322 square meters is
\nsize, sell for Rp 2 billion (about US$210,500) to Rp 3 billion.
\nThe Capital is situated in the Sudirman Central Business District
\nin Central Jakarta, one of the prime locations in the city.<\/p>\n
The Peak, currently under construction on Jl. Setiabudi, which
\nis quite close to Jl. Sudirman, received a positive response from
\napartment buyers during its prelaunch sales.<\/p>\n
About 48 percent of its 351 luxury apartment units were sold
\nduring prelaunch sales in March 2004. When it was launched in
\nMay, total take-ups reached 60 percent.<\/p>\n
"And now about 75 percent of the apartment units have been
\nsold," said Veri Y. Setiadi, the executive director of The Peak.
\n"Each unit costs between Rp 1.2 billion and Rp 7.5 billion."<\/p>\n
Another apartment building, the View Executive Residence,
\nlocated in Kemayoran, Central Jakarta, also reported good sales.<\/p>\n
The property was introduced in August 2004 but sales began
\nonly three months ago. So far, almost 30 percent of its 441 units
\nhave been sold, according to Suhandi, head of the marketing
\ndepartment.<\/p>\n
Those units in highest demand, he said, were the ones with
\nprice tags of between Rp 300 million and Rp 1.7 billion.<\/p>\n
The View also has several "very special" units, including four
\nRoyal Suites, three Royal Suite Garden units and two penthouses,
\neach costing between Rp 3 billion and Rp 7 billion. The
\npenthouses are located on the 39th and 40th floors and each
\nmeasures 650 square meters.<\/p>\n
Like other metropolitan cities throughout the world, Jakarta
\nhas seen the development of numerous apartment buildings over the
\npast decade. The market was quite gloomy for some time due to the
\neconomic crisis that hit in 1997, but business is thriving now as
\nthe economy continues to recover.<\/p>\n
According to property consultants, most buyers purchase
\napartments not to live in but as an investment. Most of the
\nbuyers lease the apartments and then sell when property prices
\nrise.<\/p>\n
Location remains buyers' main consideration in choosing an
\napartment. People prefer apartments in the heart of the city,
\nnear office buildings and other support facilities such as
\nshopping malls.<\/p>\n
Design is another important factor. Djoni Suyanto, the
\ndirector of The Capital Residence, said the apartment building
\nused a unique architectural concept based on the structure of the
\nancient temple complex Prambanan in Central Java.<\/p>\n
The apartment building won the Autodesk 2005 Design Excellence
\nAward from Architecture Asia magazine.<\/p>\n
Meanwhile, The Peak has been named one of the 50 best
\napartments in the world. The Peak has four towers, two of them
\nfacing south with 35 floors each. The other two towers face north
\nand have 55 floors. Soaring to a height of 225 meters, they will
\nbe the highest twin towers in Asia.<\/p>\n
Most of the new apartments in Jakarta were built as an
\nintegral part of large building complexes that also include
\nshopping malls, offices and hotels.<\/p>\n
The View is, for example, part of Mega Glodok Kemayoran, which
\nincludes a shopping center and office space. Senayan Residence in
\nSouth Jakarta is located at the same site as Plaza Senayan.<\/p>\n
The Summit, under construction at the new business district in
\nKelapa Gading, East Jakarta, is quite close to Mal Kelapa Gading.<\/p>\n
Most of these apartments offer the same things: comfort, 24-
\nhour security and sport facilities, from swimming pools and
\ntennis courts to jogging tracks and even golf courses. Other
\nfacilities offered by some apartments include preschool, music
\nschools, spas, libraries, restaurants, business centers, beauty
\nsalons and ATMs.<\/p>\n
Gatot Sedyadi, general manager for marketing at The Pakubuwono
\nResidence, an exclusive apartment building in South Jakarta, is
\nnot worried about the tight competition in the market.<\/p>\n
"We see the competition as a positive thing, meaning that the
\nmore apartments being constructed, the more convinced people are
\nthat 'apartment living' is the future of living in a big city,"
\nhe said.<\/p>\n
He also observed that there had been a change in the lifestyle
\nof people in the city. Unfortunately, this has not been followed
\nby the proper development of infrastructure like roads and the
\ntransportation system.<\/p>\n
Therefore, living in an apartment located in the city center
\nis more desirable so people can get to work on time.<\/p>\n
The Pakubuwono Residence, whose units sell for between Rp 2.4
\nbillion and Rp 18 billion, was especially designed as a residence
\nand is not integrated with offices or commercial units.<\/p>\n
It is located on a 4.3 hectare plot of land in a residential
\narea in Kebayoran Baru. Only 18 percent of the land is being used
\nfor construction, with the rest of the land to be used for
\ngardens and outdoor facilities.<\/p>\n
"All of the areas in The Pakubuwono Residence will be
\nhandicap-friendly and will come with facilities to make them
\naccessible to the handicapped," Gatot said.<\/p>",
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