33
english news
Early September 2013 | INDONESIA MEDIA
2013 Real Estate Market Predictions – PART 2 - End
2. Over price By Rudy Lira Kusuma, REALbidding has deTOR®/IM creased by more Los Angeles, August 26, 2013 / than 80% Indonesia Media 3. Properties reNow we are facing another crossceiving multiple ofroad that is extremely important to fers have decreased the Real Estate market. Ever since Rudy Lira Kusuma by at least 80% April 2013 when the Housing Inventory 4. Cash offers have dein our area reached the lowest point, the inventory has been increasing about 15% creased by 80% to 20% every month. Some areas, the inMore properties are crease has been more dramatic. Pending adjusting their listing price downward. sales have not increased but in opposite Even though more new listings are coming direction to develop. These events have onto the MLS with higher than ever listing caused the activity level (turnover rate) price, the fact is only 30% of MLS listings of the Real Estate market to slow down will be sold during this time. These facts substantially. Please take a look at the translate to 70% of MLS listed properties Green Line in our monthly SA Chart for will continue to stay on the MLS until they West San Gabriel and East San Gabriel. expire or until the sellers are willing to face During this time period, the fact of new “PRICE REFERENCE” 1. Price appreciation has slowed down than the property will get sold. substantially
Red-White Passport Out of Favor Some four million people are in the “For example, the Australian passport enprocess of giving up their Indonesian citi- ables me to have better mobility throughout zenship to take up the passport of the world since Australians another country, Foreign Affairs don’t need visas to travel to Ministry data show. countries that are known to have difficult visa applicaReasons for the change in tion processes, like the US citizenship include international and European countries. marriage and working benefits. This is very beneficial for Many say Indonesia is not able my career.” to meet their needs. Unlike many other countries, Indonesia He added that the process does not allow its adult citizens for obtaining Australian to take out dual citizenship. citizenship was easy. Andhika Sambuaga, an Indo“You only have to pass nesian citizen living in Perth, is the knowledge test and in the process of applying for More and more Indonesians are then join the inaugugiving up their citizenship to take up Australian citizenship. residence in another country. (Photo ration,” Andhika said. “The process to be a PR courtesy of Michelle Unwin) He is a permanent resident [permanent resident] is much more timeof Australia and now he wants to go one consuming and difficult.” step further. Andhika said that nationalism was not a “I want to change my citizenship beconcern in his change of citizenship. cause Australia offers better benefits for its citizens,” he said. “Citizenship is not an important issue.
www.indonesiamedia.com updated daily.
The major factors causing these facts are as follow: 1. Interest rate has increased more than 1 % in June 2013 2. Due to QE3 winding down, the monetary supply in the new emerge market are facing credit crunch causing foreign investors unable to transfer funds to U.S. This effect most cash buyers. Continued to 2013
page.
34
This globalized era requires us to be a global citizen, so where you live is not a big deal,” he said. The motivation to change citizenship is different for Budi Jakobus, an Indonesian permanent resident in Singapore, whose wife and children have Singaporean citizenship. He wants to keep his Indonesian passport, despite living in Singapore for more than 13 years. “It’s more because of the flexibility. Having two citizenships within the family enables us to get the best of the two countries. We can get the benefits of Singapore yet we can still buy properties in Indonesia,” he said. Sutayasa, an Indonesian who has lived in Singapore since 2006, has similar motivations for retaining his Indonesian passport despite the benefits Singapore offers. “I love Indonesia,” he said. “Moreover, I think it depends on your aspiration. I want to run my own business and the best Continued to Red
page.
34