Colliers | Colliers Quarterly Property Market Report H1 2022 Surabaya Apartment

Flat performance with opportunity to improve

The market remains stagnant this quarter, with no new projects introduced or completed. This quarter’s sales performance was the weakest with only less than a hundred units sold. Even so, the asking price has increased but with limitation, as only some projects implemented a hike while the others retained their price.

However, we believe this stagnation will not remain long as new products will be launched next semester. Also, there is an indication of a rising interest and inquiries for strata-title apartments. Therefore, developers can use this opportunity to boost their sales.

Colliers Quarterly Property Market Report H1 2022 Surabaya Apartment

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Ferry Salanto

Senior Associate Director

Research

Jakarta

+62 21 3043 6888

+62 812 835 6660

As Head Research Department, Ferry is in charge in providing property market knowledge for internal purposes and for clients. The scope of sectors covered in the quarterly market report comprises office, apartment, retail, hotel and industrial estate.

In regional tasks, the Heads of Research of each country work together in providing regional market reports covering the Asia Pacific region and globally. Currently Research Department is not only operating as a cost-centre department, as he and his team have been assigned by the Central Bank to provide monthly market information.

On the consulting front, the task involves providing a wide range of advisory services to our clients. Working closely with Consulting Department, we help clientsby preparing feasibility studies to determine whether their property projectsare viable from both financial or marketing aspects.

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