Property Firms to Miss Sales Target
Bareksa • 10 Jul 2014
Deretan gedung bertingkat di Jakarta. (ANTARA FOTO/Zabur Karuru)
Standard & Poor’s believes the slowdown is already losing steam.
Bareksa.com - Reported from Jakarta Globe, rating agency Standard and Poor’s has predicted that Indonesia’s listed property firms may miss their sales target this year, but expected sales to rebound in the third quarter this year.
“We expect contracted sales to be at least 20 percent lower than managements’ projections for 2014, given reduced transaction volumes,” the rating agency said in report released on Monday.
It added that reports of listed property firms for the first quarter this year showed that average transaction volumes declined more than 30 percent year-on-year while average selling prices were flat.
Still, Standard & Poor’s said that sales will pick up in the third quarter and will continue to improve in 2015.