Jakarta (VNA) - Secretary General of the Association of HousingDevelopment of Indonesia (Peurmahan) Daniel Djumali has announced that revenue inthe country’s real estate market this year has slumped by 70 percent year-on-yeardue to the COVID-19 pandemic.
The latest report from Peurmahan showed that demand for high-end housingfell 40-70 percent against 2019 while demand for low-end housing was down 20-25percent.
Property developers are expecting a recovery in low-end housing to savethe market, it noted.
Developers have switched toonline selling and offered preferential packages for buyers. Banks have alsooffered preferential loans to low-income buyers to make it easier for them to access the market./.
Indonesia cancels Haj pilgrimage, Thais start visiting temples
Indonesia’s Minister of Religious Affairs Fachrul Razi announced on June 2 that the country decided to cancel the 2020 Haj pilgrimage as local Muslims are worried about the spread of the COVID-19 pandemic.