(MENAFNEditorial)
PALEMBANG— Apartment market in South Sumatra will grow bigger within the next three years in line with the increasingly limited land availability.
Chairman of REI in South Sumatera Harriadi Benggawan said currently the apartment business by a number of developers in the city was still in pioneering stage. “Pioneering must be slow but I believe that slowly the market will be formed and grow” he told Indonesia Business Daily Monday (5/11/2015).
He explained the massive apartment construction can be learning for people in Palembang. “It can become a lesson that the land availability has increasingly shrunk so people switch to apartment” he said.
According to him the land availability is still adequate so that apartment can be an option mainly due to the strategic location close to the city center.
However if the land has been inadequate then the apartment market will increase because the demand on residential for the upper class will remain. Read more..
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