Condominium Demand to Grow Per Quarter

VIVAnews - Condominium prices may increase by two to four percent per quarter. Developers' decision to move up the prices is due to the projection that condominium market is likely to expand in the next quarter.

Associate Director of Procon, Utami Prastiana, said that the demand on condominium is alleged of being higher in line with the decrease in interest rate as well as improve in the rupiah exchange rate.

"The relatively stable and optimistic political condition in the coming presidential election also affects [the increase]," said Prastiana in Jakarta on Tuesday, April 28.

Procon Manager Milda Z. Abidin also considered that the selling rate will grow by the second quarter of 2009 from 56 percent to 57 percent. Condominium absorption in this quarter will reach 1,500 to 2,000 units.

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Translated by: Ariyantri E. Tarman