Cibubur tops property investment list

 

Cibubur of West Java has again topped a survey by Propertykita.com on the most sought-after locations for Jakarta’s property investors.

Fenny Liana, CEO of Propertykita, says that over 1.4 million people visited the site in the first half of 2013 to view Cibubur properties, with Kelapa Gading (857,000), Serpong (639,000) and Bintaro (413,000) also among popular locations.

“The demands for property in Cibubur is very high,” said Fenny to Kompas.

The average price of properties that people are interested in is around Rp 500m (US$50,000).

Executive Director of Indonesia Property Watch (IPW), Ali Tranghanda, said three years ago Serpong was the most popular location, but Cibubur has well eclipsed it now.

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However, rising property prices in Cibubur may force investors to look elsewhere, with Cileungsi and Bogor prime candidates, according to Tranghanda.

Cibubur’s popularity will depend on future improvements in infrastructure, namely the toll road to connect Cimanggis-Cibitu with Cibubur, and the monorail project planned for Cibubur to Cawang.

(YA; source: Kompas and others; featured image: bisnis.com)

 

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