Property News · April 14, 2020

Coronavirus threatens to derail Indonesia’s housing market recovery, with sales of flats down almost a third


The coronavirus outbreak is threatening the recovery of the Indonesian housing market, with sales of high-rise flats likely to fall 30 per cent in the first quarter, according to property consultancy Cushman & Wakefield.The forecast came in the wake of Fitch Rating’s revision of its outlook for Southeast Asia’s largest economy’s homebuilding sector from stable to negative on April 1, citing “unprecedented weakening in domestic demand as the coronavirus pandemic engulfs the country.”Another…

Source : South China Morning Post
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