Property is a lucrative industry. As we know, property prices continue to increase from year to year. The question is, is the property business still the prima donna during the pandemic? There is a change in trends that make people who want to buy houses no longer come directly but prefer to use the online route.
These online services provide a lot of convenience and freedom for buyers. Check out the following explanation in full.
Home Search Trends on Online Sites
Digitization also affects the property business during a pandemic. Housing sales used to offer housing units by bringing prospective buyers from one house to another, and now this is no longer the preferred method.
During the pandemic, potential buyers prefer to go on an online tour rather than come in person, at least for the first stage. The convenient access internet allows potential buyers to minimize interaction with people offline.
Besides, following the government and health experts’ recommendations to stay home can prevent the virus’s transmission and save energy, time, and costs. Home seekers can easily view, check, and choose the house they want to visit without sacrificing time or effort. It is the advantage of searching for housing on online sites so that it becomes the latest trend.
The Property Business in the Pandemic Period
From the beginning to the middle of the Covid-19 pandemic, the property business had stagnated. However, now the demand continues to rise, so it is still the choice of investment instrument for many people.
According to the CEO of Indonesia Property Watch (IPW), Ali Tranghanda, people’s purchasing power in the property sector has not entirely disappeared. The decline is visible, but its existence will never die.
The government’s policy of providing housing subsidies with a 0% down payment and reduced installments has contributed to the defense of the property business sector. IPW data shows that housing project submissions are higher than before the pandemic.
Property Business Challenges in a Pandemic Period
Regarding the property business during the pandemic, developers now have to deal with the depletion of funds. Moreover, the development of digital technology and WFH (Work from Home) makes it seem like people don’t need an office or home.
Therefore, banks also reduce the disbursement of funds for the construction of housing projects, such as KPR, KTA, Working Capital Loans, and Project Financing. It affects the demand for public property.
Coupled with the decline in purchasing power because banks raised the criteria for KPR/KTA recipients, it will be difficult for this sector to remain vibrant without the flexibility of the banking sector.
How Skha Consulting Helps Your Business
Property businesses must find new strategies to increase market excitement and demand to survive and generate profits in the future. One way is to ask for help from a third party to find a solution to the problem.
Skha offers strategic services to policy development for various companies, including those in the property sector. Skha also helps clients to be able to implement business strategies to match their achievements.
With 21 years of experience in the business management consulting industry, Skha has helped hundreds of clients by identifying problems and formulating solutions. Skha is here as a personalized one-stop solution for each of its clients.
Learn about our range of services through the Skha service page. For more information, you can contact us. You can also learn the latest information about the business world through our articles page.