Property Prospects Bright For 2023

Image by Tom Fisk on Pexels.

According to a recent report from, top property developers are optimistic that the prospects for the property business in 2023 will be brilliant, amidst the challenges of macroeconomic and global growth.

The government has warned several times about a global recession that could hit any country. However, Indonesia continues to show positive economic growth at 5.72-percent in Q3/ 2022.

Deputy Chairperson for Real Estate Indonesia (REI) for Communication, Promotion and Exhibition Affairs Ahmad Zulfikar Fauzi interpreted the economic growth conditions as a signal that the domestic market would still strengthen despite being hit by recession issues. This optimism comes from Indonesia’s experience in facing a recession or economic crisis in 1998, 2008, and during the 2020 pandemic.

According to him, Indonesia has managed to get through these times well. “All of our markets are domestic, our domestic market is strong, and don’t you remember when we were in a recession, who defended this country to continue to exist? Our own nation,” said Ahmad Zulfikar alias Ikang in a talk show at the Indonesia Property Expo 2022 at JCC Senayan, Jakarta, Friday (25/11/2022), report Bisnis.Com

However, he did not deny that vigilance still needs to be increased and the public needs to be prepared for all possibilities. On the other hand, he is optimistic that growth in the property market will continue with the presence of millennials.

The future property needs are in the hands of millennials, so developers are currently trying to meet these needs. “They are empowered, they can turn on the business network so that it continues to run, so the money continues to circulate,” he said.

Furthermore, according to Ikang, what needs to be done right now is to keep the market there. For this reason, developers continue to provide offers ranging from innovative financing schemes, subsidies, promos, and others. “The market is kami-sama [in Japanese], meaning the market is god. So the boss is the market and the market is millennials,” he said.

Bisnis.Com go on to say that one of the developers, namely Director of Millennium City, Jason Tan stressed the importance of taking opportunities to invest now, including in the property sector. “Again, in difficult times, all developers will definitely offer promos, which in my opinion will not happen in times that are not difficult anymore , now this is what we are educating people to see this opportunity.

Spending must be reduced, entering into investment opportunities, including property,” he said. At the same event, various big-name developers attended, starting from Ciputra Development, Summarecon Agung, Jababeka, to Adhi Commuter Properti. All developers agree that the prospects for property in 2023 are bright as long as the domestic market is maintained.

Source: Bisnis.Com, Invest Indonesia

Latest Article
Recruiting Foreign Doctors Will Improve Health Services
Emanuel Melkiades Laka Lena, a member of Indonesia’s House of Representatives (DPR), has said that the...
Indonesia Proposes Visa-Free Entry for 20 Countries to Boost Tourism and Economy
In December 2023, Indonesia’s Ministry of Tourism and Creative Economy  proposed visa-free access...
Top 5 Most Visited Provinces by Foreign Tourists in Sumatra
  Bali, Lombok, and Raja Ampat certainly capture the tourism spotlight. However, Indonesia boasts...
Ministry: Immigration Services Restored
Indonesia’s Law and Human Rights Ministry’s Director General of Immigration, Silmy Karim, has announced...
More Than 1 Million Tourist Visits in April
According to reporting from Antara News, Indonesia’s Ministry of Tourism and Creative Economy announced...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

[wpforms id=”43785″]

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.