Condominium not for expats

Condominium not for expats

This is in response to Jeremy Duncan Roy Gibbons' letter on
Aug. 27, 1994. I have the impression that Gibbons is ill informed
about conditions in Indonesia. Being a developing country does
not mean that all the people are poor, all hoping to get money
from expatriates.

According to a report in Newsweek there are currently about 20
million Indonesians who can afford a big house, who can eat in
expensive restaurants and have at least one car in their garage
(more than the whole population of Australia).

Most people who are spending Rp 200 million for a condominium
in the city already have a Rp 200-million or more villa in the
suburbs. Relatively very few who bought these condominiums are
waiting for expatriates to rent them. Most of these buyers want a
second home in the city for their children to have a residence
within walking distance of campus, or a place in the middle of
the city for a change.

I know of hardworking doctors in remote islands outside Java
who bought an apartment on installment. Ten years from now when
their children need higher education they will have a place where
their studying children can live which is not too far from their
schools.

All these people don't care whether expatriates are coming or
going and will not rent their place to them.

A few of them who are waiting in vain for expatriates
will ultimately switch to a better deal by selling their
place to other Indonesians who are waiting impatiently for a
chance to own a condominium.

Sumarsono Sastrowardoyo

Jakarta