Business Property in Yogyakarta begun to pick up

Business property in the Special Region of Yogyakarta (DIY) began to squirm if not fully recovered. The high demand for housing in the area considered is the potential for developers. “Data from the Department of Settlement and Regional Infrastructure (Infrastructure) DIY mention the current housing needs to reach 91 thousand units spread across the district and city. This is a great opportunity for entrepreneurs to property,” said Chairman Realestate Indonesia (REI) DIY Edy Waluyo in Yogyakarta, recently. He said to meet these needs, REI face some obstacles, such as has not been a general decline in interest rates. Thus, people who will apply for credit still think again.

“Interest rates of commercial banks is still around 14 percent, whereas the BI Rate since some time ago down in the range of 7.5 percent. We expect commercial banks to lower lending rates soon so that business property and other real sector to recover soon,” he said. Furthermore, he said that REI expects the role of government, both central and local levels, encouraging commercial banks to lower interest rates soon because without the government’s role will be difficult to recover the real estate business.

“The decision makers, both the government and banks, are expected to work together to restore the business climate and each is willing to sacrifice for everything to run smoothly,” he said. Edy said REI’s efforts can be pursued at this time is to make the breakthrough for property services aim to keep the road as the informal sector has been less attention. “During this informal sector has not been so considered, although this sector has great potential,” he said.