Apartment Prices in Tangerang City Continue to Decline During the Pandemic
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Tangerang City was among the five areas in Jabodetabek with the lowest apartment price index in the first quarter of 2021. However, Tangerang City's apartment price index, at 100, was still higher than South Jakarta (96.4) and East Jakarta (99.5).
Data from the Rumah.com Indonesia Property Market Index recorded an 8.6-point year-on-year (YoY) decrease in the apartment price index in Tangerang City during the first quarter (Q1) 2021, the second-worst decline after Central Jakarta. Quarter-on-quarter (QoQ), the apartment price index in Tangerang City fell by approximately 3.2 points in the first quarter of 2021.
Nevertheless, the low apartment price index in Tangerang City presents a significant opportunity for property seekers to acquire affordable housing or make future investments, particularly within the Jabodetabek region. This potential advantage is further amplified by the recovery of the Indonesian property market following the COVID-19 pandemic.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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