{
    "success": true,
    "data": {
        "id": 1298105,
        "msgid": "property-sold-to-locals-foreigners-1447893297",
        "date": "2000-10-02 00:00:00",
        "title": "Property sold to locals, foreigners",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Property sold to locals, foreigners JAKARTA (JP): Property developers, hard hit by the economic crisis, have stepped up marketing efforts through an auction system to attract more local and foreign buyers, Jones Lang Lasalle property consultant said here over the weekend. The consultant said foreign investors interested in Indonesian properties have actually increased, especially since early this year, but information on property sales are inadequate and not properly disseminated.",
        "content": "<p>Property sold to locals, foreigners<\/p>\n<p>JAKARTA (JP): Property developers, hard hit by the economic<br>\ncrisis, have stepped up marketing efforts through an auction<br>\nsystem to attract more local and foreign buyers, Jones Lang<br>\nLasalle property consultant said here over the weekend.<\/p>\n<p>The consultant said foreign investors interested in Indonesian<br>\nproperties have actually increased, especially since early this<br>\nyear, but information on property sales are inadequate and  not<br>\nproperly disseminated.<\/p>\n<p>\"Hence, if you notice advertisements on property auctions in<br>\nnewspapers today, you should not immediately construe it as<br>\nproperty sales by the Indonesian Bank Restructuring Agency<br>\n(IBRA),\" Jones Lang Lasalle national director Lucy Rumantir said<br>\nin a statement.<\/p>\n<p>IBRA has foreclosed many properties formerly owned by now<br>\ndefunct banks.<\/p>\n<p>Many developers, she added, consider an open auction system as<br>\na more effective way of attracting as many potential buyers as<br>\npossible.<\/p>\n<p>Moreover, sales through auctions are much more transparent,<br>\nenabling potential buyers to get complete information on the<br>\nbuildings being offered, Rumantir added.<\/p>\n<p>Citing an example, she pointed to the auction arranged by PT<br>\nProcon Graha Lelang for Menara Mayapada, the tallest and biggest<br>\nbuilding in Bandung.<\/p>\n<p>\"The auction has nothing to do with IBRA. But the property<br>\nowner, the Mayapada Group, considers an open auction a much more<br>\neffective way of getting the best value from the best buyer or<br>\ninvestor,\" she said.<\/p>\n<p>The Menara Mayapada on Jl. Sudirman in Bandung has 17 floors,<br>\nincluding two levels of basement parking for 150 cars and 5,000<br>\nsquare meters of open space for another 250 cars.<\/p>\n<p>Rumantir added that given the weak rupiah and the excessive<br>\nsupply of almost all kinds of properties, Indonesia should be a<br>\nparadise for property acquisition now for investors with long-<br>\nterm interest in the country.<\/p>\n<p>\"The key to sales is how to provide potential buyers as much<br>\nreliable information as possible, including such details as the<br>\nlegal title and the economic prospects of the area where the<br>\nproperty is located,\" Rumantir added.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/property-sold-to-locals-foreigners-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}