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Visa Types for the Republic of Indonesia I Indonesia Research Institute Japan

Visa Types for the Republic of Indonesia | Indonesia Research Institute Japan

Foreigners that wish to enter and stay in the Republic of Indonesia are required to obtain a valid visa, which is stipulated in Immigration Law No. 6 of 2011. The Immigration Department has the right to refuse entry to any foreigner who does not have a valid passport.

A visa of the Republic of Indonesia (hereinafter referred to as “visa”) is a written document given by an authorized official at the representative office of the Republic of Indonesia or at any other place determined by the Government of the Republic of Indonesia, which contains the authorization for the foreigner to travel into the territory of Indonesia and is the basis for granting a residence permit. This is the basis for granting a residence permit.

A visa can also be issued to the foreigner at the time of immigration. This visa is known as a Visitor Visa on Arrival.

In general, the visa of the Republic of Indonesia consists of the following:

  1. Diplomatic Vvisa

A diplomatic visa is issued to foreigners with diplomatic passports or other documents to enter the territory of Indonesia to conduct diplomatic business. The issuance of diplomatic visas is done under the authority of the Minister of Foreign Affairs, and is carried out by the foreign affairs staff of the representative office in the Republic of Indonesia.

  1. Sservice Vvisa

Service visas are granted to a wideto wide range of foreign nationals with official passports or other passports who travel to the territory of the Republic of Indonesia to perform non-diplomatic official duties from the relevant foreign government or international organization. The issuance of official visas is under the authority of the Minister of Foreign Affairs, and in its implementation, it is issued by the Foreigners Service Officer of the Representative Office of the Republic of Indonesia.

3.. Vvisitor Vvisa

A visitor visa is granted to foreigners traveling in the territory of Indonesia for the purpose of visiting government duties, education, socio-cultural, tourism, business, family, journal of journalism, or stopping  to continue their journey to another country.

  1. Llimited Sstay Vvisa

This limited stay visa is granted to foreign nationals for the following purposes

  1. Clergy, professionals, workers, researchers, students, investors, senior citizens, and their family members, and foreigners legally married to Indonesian nationals who are traveling to Indonesian territory to reside for a limited period of time; or
  2. in the framework of participation to work on ships, floating devices, or equipment operating in the archipelago’s territorial waters, territorial seas, continental shelf, and/or the exclusive economic zone of Indonesia.

For further information, please contact us below :

Hotline : +62-857-1892-3842

Email : contact@indonesiasoken.com

Author Information :

Farida Rakhmah A. The Author is legal staff in PT. Indonesia Research Institute Japan – Jakarta.

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Authored by : Fitri Aulia | 22 December 2020

Recent Property Development

The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses.

However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

 Government Stimulus

The assistance provided by the government is in the form of subsidies or incentives for interest subsidies to debtors of public housing credit (KPR), which is contained in the Minister of Finance Regulation (PMK) Number 138 / PMK.05 / 2020 and amendments to PMK 85 / PMK.05 / 2020 regarding the guidelines for providing interest subsidies in the effort to implement the National Economic Recovery program.

In early March 2020, the Government decided to increase the allocation of housing financing assistance by IDR 1.5 trillion for Low-Income Communities (MBR). This was stated by the Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Eko Djoeli Heripoerwanto in a webinar, Wednesday (29/7/2020).

In addition, the Government also has Bank BTN as their partner-collaboration to implement their OMH Program aimed at Low-Income Communities (MBR) with low interest rates and low installments for the purchase of a prosperous tread house and a welfare apartment.

Bank BTN noted, in 2015 they have provided housing financing assistance totaling 474,099 units. Then in 2016 as many as 595,540 units, in 2017 to 666,806 units, in 2018 to 755,093 units, and in 2019 to 735,749 units.

As of September 2020, BTN has provided home ownership credit support (KPR) of 93,448 units which cost as much as Rp. 15.6 trillion. These support provided by BTN is significant for the survival of the business property sector.

BTN commitment on supporting business property has not slackened. In fact, during the pandemic, BTN continuously provides support for the government program.The distribution of subsidized KPR is still a mainstay of BTN for the One Million Houses program.

 

Source : Bank BTN (visit : https://www.btn.co.id/id/Conventional/Product-Links/Produk-BTN/Kredit-Konsumer/Pinjaman-Bangunan/KPR-BTN-Subsidi)

Positive Trend in Q3  2020

There is a positive trend during Q3 2020 after it drastically dropped earlier in the year, indicates there is potential for the revival of Commercial Property Demand in Q4 2020 and the next Q1 2021.

Source : Bank Indonesia

Hotels and convention halls are two sectors whose demand has risen quite drastically in the Q3 after falling badly in the previous quarter. This demonstrates positive potential for its development in the future. Meanwhile, the demand of apartment remains low and still struggles to revive until now.

Growth of Commercial Property Demand in Jabodetabek

Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020.

In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

Source : Bank Indonesia

 Meanwhile, the growth in the total commercial property index jumped drastically in Bogor, Depok and Bekasi. Same case with Jakarta, its hotel sector are also the most prominent in reviving, at least in the Q3 2020.

Source : Bank Indonesia

As we can see on charts above, the hotel segment shows a great improvement in demand. This was driven by various kinds of promotions offered by hotels to adapt in this situation such as providing huge discount, staycation packages, working from hotels offer, and wedding reception packages.

Why Hotels?

As Indonesia gradually eases lockdown restrictions, the hotel occupancy rates across the country including Jakarta, have slowly started to pick up. However this is not without several efforts and sacrifices driven by people in the hotels sector to improve and revive the hospitality business sector in Indonesia.

To get through this hard times, efficiency and innovation are the main keys. Therefore, there are several trends created specifically to adapt to this era. Hotels competing with each other to offer a flood of discounts. To further intensify its sales strategy, there are several e-commerce platforms that is becoming a  great place to advertise rooms and staycation packages, such as Traveloka. The Buy Now Stay Later also sticks to this trend.

Hotels discounts on Traveloka (Source : Traveloka)

Another new trend is the Work From Hotel (WFH). As you might know, the abbreviation of WFH was initially stands for Work From Home. To connect the dots, Working From Hotel then exist and created because there are more and more office workers are getting bored with the atmosphere of their house and desperate to look for a new atmosphere. It’s a trend where hotels prepare rooms, complete with equipment and facilities to work (e.g : Wi-Fi , stationer, and free printing facilities,etc).

Source : Instagram @harrisfxsudirman and @arunasenggigi

During the transitional PSBB period, indoor wedding receptions are allowed to be held again after previously was banned temporarily due to the massive increase of the Covid-19 spread. This becomes the opportunity that triggers the revival for the hotel business.

However, this permission is also accompanied by the requirement to fulfill and comply with the health protocols made by the government. These includes the limitation of attendees to a maximum of 25 percent of normal capacity. Then, the seating distance for visitors is set at least 1.5 meters. Visitors are also prohibited from passing by or changing seats. The eating and drinking utensils must be sterilized, while the serving of food is prohibited from using a buffet. Last but not least, the wedding staffs are required to wear a mask, face shield and gloves.

One of the breakthrough in this trend was the make of  “Virtual Wedding” ever since June 2020. As this was the case held by The Sunan Hotel Solo, which offer a virtual wedding service package for 44.5 million. The event is only attended by the couple and their family members, meanwhile guests are able to attend the wedding virtually through various platforms such as Zoom, YouTube, Facebook and Instagram, while enjoying food sent by the hotel to their residences.

                                                                                                          Source: The Sunan Hotels Solo

Finally, we might conclude that the property business in Indonesia has the potential to develop more despite the massive impact it has taken from pandemic outburst. Combining the stakeholders effort and the government’s support to stimulate this sector are expected to help revive the business sector in the future.

 

References

Bank Indonesia. (2020). Perkembangan Properti Komersial (PPKOM).

Kementerian Pekerjaan Umum dan Perumahan Rakyat. (2020, November 3). Tingkatkan Kepemilikan Hunian Layak, Realisasi Program Sejuta Rumah Hingga Akhir Oktober 2020 Capai 601.637 Unit. Retrieved from https://www.pu.go.id/berita/view/18970/tingkatkan-kepemilikan-hunian-layak-realisasi-program-sejuta-rumah-hingga-akhir-oktober-2020-capai-601-637-unit

Kementerian Pekerjaan Umum dan Perumahan Rakyat . (2020, January 3). Capaian Pembangunan Rumah Tembus 1,25 Juta Unit. Retrieved from https://perumahan.pu.go.id/berita/view/227/capaian-pembangunan-rumah-tembus-1-25-juta-unit

Kompas. (2020, July 29). Alokasi Tambahan Rp 1,5 Triliun untuk Perumahan Terkait 3 Program. Retrieved from https://properti.kompas.com/read/2020/07/29/191334021/alokasi-tambahan-rp-15-triliun-untuk-perumahan-terkait-3-program?page=all

BUMN inc. (2020). Target Penyaluran KPR Bank BTN Naik Menjadi 300.000 Unit Per Tahun. Retrieved from http://bumninc.com/target-penyaluran-kpr-bank-btn-naik-menjadi-300-000-unit-per-tahun/?more=2

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Cryptocurrencies in Indonesia I Indonesia Research Institute Japan

Cryptocurrencies in Indonesia | Indonesia Research Institute Japan

“This post is written by Muhammad Ariq Aswata, Market Research & Business Development at PT Indonesia Research Institute Japan Jakarta, a global management consulting firm on business strategy”

Cryptocurrency is a digital asset designed to function as a medium of exchange in which individual coin ownership records are kept in a blockchain that exists in the form of a computerized database and employs strong cryptography to secure transaction records, control the growth and creating coins, and authenticate coin ownership transactions. It does not generally occur in a tangible body (such as paper money) and it is not issued by a central authority. A cryptocurrency is labeled centralized when it is minted or generated prior to issuance or when it is issued by a single issuer. When enacted with decentralized control, each cryptocurrency operates via a distributed ledger, most commonly a blockchain, which acts as a public financial transaction database. Examples of cryptocurrencies are Bitcoin (BTC), Ethereum (ETH) Binance coin (BNB), Dogecoin (DOGE), and etc. The rising popularity and development of the best cryptocurrency business in Indonesia has prompted various cryptocurrency enterprises to seek new prospects. One of them is the Tokocrypto Token Shop (TKO), which is issued by one of the exchanges that has been formally accepted by Bappebti. This recognition is stated in the Commodity Futures Trading Supervisory Agency Regulation Number 7 concerning Determination of List of Crypto Assets that can be traded on the Physical Crypto Asset Market. The regulation will take effect on December 17, 2020. The Commodity Futures Trading Supervisory Agency (Bappebti) revealed its plan to establish a cryptocurrency exchange (Bursa). A number of types of cryptocurrencies include Bitcoin, Ethereum, Dogecoin, Binance Coin, and so on.

Indonesia Research Institute Japan offers all services from desk research, in-depth interviews, to market surveys for a better understanding of the topic that wants to be understood on how this business works.

For More Information and Services, please contact us :

Consulting Services info :

Hotline :  +6285718923842

Email : contact@indonesiasoken.com

References

CNN Indonesia. (2021, April 16). Indonesia Akan Punya Bursa Mata Uang Kripto. Retrieved from CNN Indonesia: https://www.cnnindonesia.com/ekonomi/20210416091324-92-630672/indonesia-akan-punya-bursa-mata-uang-kripto

D’Agnolo, M. (2015, October 26). “All you need to know about Bitcoin”. Retrieved from timesofindia-economictimes: https://economictimes.indiatimes.com/news/international/business/all-you-need-to-know-about-bitcoin/articleshow/48910867.cms

Franedya, R. (2021, January 22). Resmi! Ini Cryptocurrency yang Diakui di RI, Termasuk Bitcoin. Retrieved from CNBC Indonesia: https://www.cnbcindonesia.com/tech/20210122132253-37-218020/resmi-ini-cryptocurrency-yang-diakui-di-ri-termasuk-bitcoin

Greenberg, A. (2011, April 20). CryptoCurrency. Retrieved from forbes: https://www.forbes.com/forbes/2011/0509/technology-psilocybin-bitcoins-gavin-andresen-crypto-currency.html?sh=17c1f1dc353e

Polansek, T. (2016, May 2). CME, ICE prepare pricing data that could boost bitcoin. Retrieved from REUTERS: https://www.reuters.com/article/us-cme-group-bitcoin-idUSKCN0XT1G1

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Authored by : Fitri Aulia | 22 December 2020

Recent Property Development

The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses.

However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

 Government Stimulus

The assistance provided by the government is in the form of subsidies or incentives for interest subsidies to debtors of public housing credit (KPR), which is contained in the Minister of Finance Regulation (PMK) Number 138 / PMK.05 / 2020 and amendments to PMK 85 / PMK.05 / 2020 regarding the guidelines for providing interest subsidies in the effort to implement the National Economic Recovery program.

In early March 2020, the Government decided to increase the allocation of housing financing assistance by IDR 1.5 trillion for Low-Income Communities (MBR). This was stated by the Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Eko Djoeli Heripoerwanto in a webinar, Wednesday (29/7/2020).

In addition, the Government also has Bank BTN as their partner-collaboration to implement their OMH Program aimed at Low-Income Communities (MBR) with low interest rates and low installments for the purchase of a prosperous tread house and a welfare apartment.

Bank BTN noted, in 2015 they have provided housing financing assistance totaling 474,099 units. Then in 2016 as many as 595,540 units, in 2017 to 666,806 units, in 2018 to 755,093 units, and in 2019 to 735,749 units.

As of September 2020, BTN has provided home ownership credit support (KPR) of 93,448 units which cost as much as Rp. 15.6 trillion. These support provided by BTN is significant for the survival of the business property sector.

BTN commitment on supporting business property has not slackened. In fact, during the pandemic, BTN continuously provides support for the government program.The distribution of subsidized KPR is still a mainstay of BTN for the One Million Houses program.

 

Source : Bank BTN (visit : https://www.btn.co.id/id/Conventional/Product-Links/Produk-BTN/Kredit-Konsumer/Pinjaman-Bangunan/KPR-BTN-Subsidi)

Positive Trend in Q3  2020

There is a positive trend during Q3 2020 after it drastically dropped earlier in the year, indicates there is potential for the revival of Commercial Property Demand in Q4 2020 and the next Q1 2021.

Source : Bank Indonesia

Hotels and convention halls are two sectors whose demand has risen quite drastically in the Q3 after falling badly in the previous quarter. This demonstrates positive potential for its development in the future. Meanwhile, the demand of apartment remains low and still struggles to revive until now.

Growth of Commercial Property Demand in Jabodetabek

Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020.

In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

Source : Bank Indonesia

 Meanwhile, the growth in the total commercial property index jumped drastically in Bogor, Depok and Bekasi. Same case with Jakarta, its hotel sector are also the most prominent in reviving, at least in the Q3 2020.

Source : Bank Indonesia

As we can see on charts above, the hotel segment shows a great improvement in demand. This was driven by various kinds of promotions offered by hotels to adapt in this situation such as providing huge discount, staycation packages, working from hotels offer, and wedding reception packages.

Why Hotels?

As Indonesia gradually eases lockdown restrictions, the hotel occupancy rates across the country including Jakarta, have slowly started to pick up. However this is not without several efforts and sacrifices driven by people in the hotels sector to improve and revive the hospitality business sector in Indonesia.

To get through this hard times, efficiency and innovation are the main keys. Therefore, there are several trends created specifically to adapt to this era. Hotels competing with each other to offer a flood of discounts. To further intensify its sales strategy, there are several e-commerce platforms that is becoming a  great place to advertise rooms and staycation packages, such as Traveloka. The Buy Now Stay Later also sticks to this trend.

Hotels discounts on Traveloka (Source : Traveloka)

Another new trend is the Work From Hotel (WFH). As you might know, the abbreviation of WFH was initially stands for Work From Home. To connect the dots, Working From Hotel then exist and created because there are more and more office workers are getting bored with the atmosphere of their house and desperate to look for a new atmosphere. It’s a trend where hotels prepare rooms, complete with equipment and facilities to work (e.g : Wi-Fi , stationer, and free printing facilities,etc).

Source : Instagram @harrisfxsudirman and @arunasenggigi

During the transitional PSBB period, indoor wedding receptions are allowed to be held again after previously was banned temporarily due to the massive increase of the Covid-19 spread. This becomes the opportunity that triggers the revival for the hotel business.

However, this permission is also accompanied by the requirement to fulfill and comply with the health protocols made by the government. These includes the limitation of attendees to a maximum of 25 percent of normal capacity. Then, the seating distance for visitors is set at least 1.5 meters. Visitors are also prohibited from passing by or changing seats. The eating and drinking utensils must be sterilized, while the serving of food is prohibited from using a buffet. Last but not least, the wedding staffs are required to wear a mask, face shield and gloves.

One of the breakthrough in this trend was the make of  “Virtual Wedding” ever since June 2020. As this was the case held by The Sunan Hotel Solo, which offer a virtual wedding service package for 44.5 million. The event is only attended by the couple and their family members, meanwhile guests are able to attend the wedding virtually through various platforms such as Zoom, YouTube, Facebook and Instagram, while enjoying food sent by the hotel to their residences.

                                                                                                          Source: The Sunan Hotels Solo

Finally, we might conclude that the property business in Indonesia has the potential to develop more despite the massive impact it has taken from pandemic outburst. Combining the stakeholders effort and the government’s support to stimulate this sector are expected to help revive the business sector in the future.

 

References

Bank Indonesia. (2020). Perkembangan Properti Komersial (PPKOM).

Kementerian Pekerjaan Umum dan Perumahan Rakyat. (2020, November 3). Tingkatkan Kepemilikan Hunian Layak, Realisasi Program Sejuta Rumah Hingga Akhir Oktober 2020 Capai 601.637 Unit. Retrieved from https://www.pu.go.id/berita/view/18970/tingkatkan-kepemilikan-hunian-layak-realisasi-program-sejuta-rumah-hingga-akhir-oktober-2020-capai-601-637-unit

Kementerian Pekerjaan Umum dan Perumahan Rakyat . (2020, January 3). Capaian Pembangunan Rumah Tembus 1,25 Juta Unit. Retrieved from https://perumahan.pu.go.id/berita/view/227/capaian-pembangunan-rumah-tembus-1-25-juta-unit

Kompas. (2020, July 29). Alokasi Tambahan Rp 1,5 Triliun untuk Perumahan Terkait 3 Program. Retrieved from https://properti.kompas.com/read/2020/07/29/191334021/alokasi-tambahan-rp-15-triliun-untuk-perumahan-terkait-3-program?page=all

BUMN inc. (2020). Target Penyaluran KPR Bank BTN Naik Menjadi 300.000 Unit Per Tahun. Retrieved from http://bumninc.com/target-penyaluran-kpr-bank-btn-naik-menjadi-300-000-unit-per-tahun/?more=2

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Understanding Multiple-Choice Questions for Research Needs I Indonesia Research Institute Japan

How New Variants of Covid-19 in India Impact Indonesia’s Property Business
| Indonesia Research Institute Japan

“This post is written by Moh Mahrus Ali, Market Research & Business Development at PT Indonesia Research Institute Japan Jakarta, a global management consulting firm on business strategy”

What is a Multiple-Choice Question?

Single Choice, or Single Answer Questions are questions where the user is asked to select only one answer from a predefined set of responses from two or more options. This is one of the most common types of survey questions and is effective in determining the user’s main preference among a set of choices. The most common single-choice questions are Multiple Choice Questions (MCQ), in which users are given a list of responses and asked to choose the best answer. A Multiple Choice Questions (MCQ) consists of (1) A stem – the text of the question; (2) Options – the choices provided after the stem; (3) The key – the correct answer in the list of options; (4) Distractors: the incorrect answers in the list of options. Respondents respond to multiple choice questions by indicating the alternative they believe is the best answer or completing the point.

MCQ can be used for various data analysis purposes which are divided into Levels of Learning. The Level of Learning consists of Creating, Evaluating, Analyzing, Applying, Understanding, and Remembering. This Level of Learning is divided into 3 parts according to the suitability level of using MCQ with the needs to be carried out, the 3 parts are Lower Order – in this part, MCQ is the most often method used for the process of Understanding and Remembering data; Higher Order –  in this part, MCQ can be used for Evaluating, Analyzing and Applying data purposes; and the last one is Highest Level, in this part for Creating and Evaluating needs, the MCQ method cannot be used.

How To Design Better Multiple-Choice Questions

Good multiple-choice questions are difficult to write. But writing good multiple-choice questions isn’t optional. Poorly written multiple-choice questions can compromise assessment data, confuse participants, and cause organizational and legal problems. The following suggestions for designing MCQs are organized into three sections: 1) general strategies, 2) designing stems, and 3) designing answers.

Good multiple-choice questions are difficult to write. But writing good multiple-choice questions isn’t optional. Poorly written multiple-choice questions can compromise assessment data, confuse participants, and cause organizational and legal problems. The following suggestions for designing MCQs are organized into three sections: 1) general strategies, 2) designing stems, and 3) designing answers.

  1. General Strategies
  • Write questions throughout the term. Multiple-choice question exams are challenging and time-consuming to create. You will find it easier if you write a few questions each week, perhaps after a lecture when the course material is still fresh in your mind.Instruct students to select the “best answer” rather than the “correct answer”.
  • By doing this, you acknowledge the fact that the distractors may have an element of truth to them and discourage arguments from students who may argue that their answer is correct as well.
  • Use familiar language. The question should use the same terminology that was used in the course. Avoid using unfamiliar expressions or foreign language terms, unless measuring knowledge of such language is one of the goals of the question. Students are likely to dismiss distractors with unfamiliar terms as incorrect.
  • Avoid giving verbal association clues from the stem in the key. If the key uses words that are very similar to words found in the stem, students are more likely to pick it as the correct answer.
  • Avoid trick questions. Questions should be designed so that students who know the material can find the correct answer. Questions designed to lead students to an incorrect answer, through misleading phrasing or by emphasizing an otherwise unimportant detail of the solution, violate this principle.
  • Avoid negative wording. Students often fail to observe negative wording and it can confuse them. As a result, students who are familiar with the material often make mistakes on negatively worded questions. In general, avoid having any negatives in the stem or the options. In the rare cases where you use negatives be sure to emphasize the key words by putting them in upper case, and bolding or underlining them.
  1. Designing Stems
  • Express the full problem in the stem. When creating the item, ask yourself if the students would be able to answer the question without looking at the options. This makes the purpose of the question clear.
  • Put all relevant material in the stem. Do not repeat in each of the alternatives information that can be included in the stem. This makes options easier to read and understand, and makes it easier for students to answer the question quickly.
  • Eliminate excessive wording and irrelevant information from the stem. Irrelevant information in the stem confuses students and leads them to waste time
  1. Designing Answer
  • Avoid lifting phrases directly from text or lecture. This becomes a simple recall activity for the student. Use new language as frequently as possible.
  • Write the correct answer before writing the distractions. This makes sure you pay enough attention to formulating the one clearly correct answer.
  • Answer options should be about the same length and parallel in grammatical structure. Too much detail or different grammatical structure can give the answer away.
  • Limit the number of answer options. Research shows that three-choice items are about as effective as four-choice items. Four choice items are the most popular, and never give more than five alternatives.
  • Distracters must be incorrect, but plausible. If you can, include among the distractor options that contain common errors. Students will then be motivated to listen to your explanations of why those options are incorrect.
  • To make distractors more plausible, use words that should be familiar to students. If a recognizable key word appears in the correct answer, it should appear in some or all of the distractors as well. Don’t let a verbal clue decrease the accuracy of your exam.
  • Help students see crucial words in the question. For example: “Which of the following is NOT an explicit norm?” Likewise, when you ask a similarly-worded question about two different things, always highlight the difference between the questions. 8. If it is too easy to eliminate one or two options, then the question loses much of its measurement value. If you must come up with one more distracter, consider either offering a true statement that does not answer the question and/or a jargon-ridden option that is meaningless to someone who understands the concept.

We, the Indonesian Research Institute Japan, will assist investors to carry out further research on all existing business opportunities. The Indonesian-Japanese Research Institute offers all services from library research, in-depth interviews, to market surveys to better understand a business research topic or marketing research. One of the methods used by the Indonesia Research Institute Jakarta to conduct marketing research is the Multiple-Choice Questions method. This method is used with the hope of obtaining maximum results regarding a case, especially during the analyzing, applying, understanding, and remembering data stages.

For More Information and Services, please contact us :

Consulting Services info :

Hotline :  +6285718923842

Email : contact@indonesiasoken.com

Thank you very much.

References

Abramovitz, B., Berezina, M., & Berman, A. (2005). How Not to Formulate Multiple Choice Problems. International Journal Of Mathematical Education In Science And Technology, 36(4).

Bottomley, S., & Denny, P. (2011). A Participatory Learning Approach to Biochemistry Using Student Authored and Evaluated Multiple-Choice Questions. Biochemistry And Molecular Biology Education, 39(5).

Chesbro, R. (2010). Strategies for the Meaningful Evaluation of Multiple-Choice Assessments. Science Scope, 34(2).

Cloonan, C. A., & Hutchinson, J. S. (2011). A Chemistry Concept Reasoning Test. Chemistry Education Research And Practice, 12(2).

Fenna, D. S. (2004). Assessment of Foundation Knowledge: Are Students Confident in Their Ability?. European Journal Of Engineering Education, 29(2).

Golda, S. (2011). A Case Study on Multiple-Choice Testing in Anatomical Sciences. Anatomical Sciences Education, 4(1).

Scharf, E. M., & Baldwin, L. P. (2007). Assessing multiple choice question (MCQ) tests – a mathematical perspective. Active Learning In Higher Education, 8(1).

Tellinghuisen, J., & Sulikowski, M. M. (2008). Does the Answer Order Matter on MultipleChoice Exams? Journal Of Chemical Education, 85(4).

Yuretich, R. F. (2003). Encouraging Critical Thinking: Measuring Skills in Large Introductory Science Classes. Journal Of College Science Teaching, 33(3).

Download English & Japanese Version Here




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Authored by : Fitri Aulia | 22 December 2020

Recent Property Development

The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses.

However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

 Government Stimulus

The assistance provided by the government is in the form of subsidies or incentives for interest subsidies to debtors of public housing credit (KPR), which is contained in the Minister of Finance Regulation (PMK) Number 138 / PMK.05 / 2020 and amendments to PMK 85 / PMK.05 / 2020 regarding the guidelines for providing interest subsidies in the effort to implement the National Economic Recovery program.

In early March 2020, the Government decided to increase the allocation of housing financing assistance by IDR 1.5 trillion for Low-Income Communities (MBR). This was stated by the Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Eko Djoeli Heripoerwanto in a webinar, Wednesday (29/7/2020).

In addition, the Government also has Bank BTN as their partner-collaboration to implement their OMH Program aimed at Low-Income Communities (MBR) with low interest rates and low installments for the purchase of a prosperous tread house and a welfare apartment.

Bank BTN noted, in 2015 they have provided housing financing assistance totaling 474,099 units. Then in 2016 as many as 595,540 units, in 2017 to 666,806 units, in 2018 to 755,093 units, and in 2019 to 735,749 units.

As of September 2020, BTN has provided home ownership credit support (KPR) of 93,448 units which cost as much as Rp. 15.6 trillion. These support provided by BTN is significant for the survival of the business property sector.

BTN commitment on supporting business property has not slackened. In fact, during the pandemic, BTN continuously provides support for the government program.The distribution of subsidized KPR is still a mainstay of BTN for the One Million Houses program.

 

Source : Bank BTN (visit : https://www.btn.co.id/id/Conventional/Product-Links/Produk-BTN/Kredit-Konsumer/Pinjaman-Bangunan/KPR-BTN-Subsidi)

Positive Trend in Q3  2020

There is a positive trend during Q3 2020 after it drastically dropped earlier in the year, indicates there is potential for the revival of Commercial Property Demand in Q4 2020 and the next Q1 2021.

Source : Bank Indonesia

Hotels and convention halls are two sectors whose demand has risen quite drastically in the Q3 after falling badly in the previous quarter. This demonstrates positive potential for its development in the future. Meanwhile, the demand of apartment remains low and still struggles to revive until now.

Growth of Commercial Property Demand in Jabodetabek

Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020.

In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

Source : Bank Indonesia

 Meanwhile, the growth in the total commercial property index jumped drastically in Bogor, Depok and Bekasi. Same case with Jakarta, its hotel sector are also the most prominent in reviving, at least in the Q3 2020.

Source : Bank Indonesia

As we can see on charts above, the hotel segment shows a great improvement in demand. This was driven by various kinds of promotions offered by hotels to adapt in this situation such as providing huge discount, staycation packages, working from hotels offer, and wedding reception packages.

Why Hotels?

As Indonesia gradually eases lockdown restrictions, the hotel occupancy rates across the country including Jakarta, have slowly started to pick up. However this is not without several efforts and sacrifices driven by people in the hotels sector to improve and revive the hospitality business sector in Indonesia.

To get through this hard times, efficiency and innovation are the main keys. Therefore, there are several trends created specifically to adapt to this era. Hotels competing with each other to offer a flood of discounts. To further intensify its sales strategy, there are several e-commerce platforms that is becoming a  great place to advertise rooms and staycation packages, such as Traveloka. The Buy Now Stay Later also sticks to this trend.

Hotels discounts on Traveloka (Source : Traveloka)

Another new trend is the Work From Hotel (WFH). As you might know, the abbreviation of WFH was initially stands for Work From Home. To connect the dots, Working From Hotel then exist and created because there are more and more office workers are getting bored with the atmosphere of their house and desperate to look for a new atmosphere. It’s a trend where hotels prepare rooms, complete with equipment and facilities to work (e.g : Wi-Fi , stationer, and free printing facilities,etc).

Source : Instagram @harrisfxsudirman and @arunasenggigi

During the transitional PSBB period, indoor wedding receptions are allowed to be held again after previously was banned temporarily due to the massive increase of the Covid-19 spread. This becomes the opportunity that triggers the revival for the hotel business.

However, this permission is also accompanied by the requirement to fulfill and comply with the health protocols made by the government. These includes the limitation of attendees to a maximum of 25 percent of normal capacity. Then, the seating distance for visitors is set at least 1.5 meters. Visitors are also prohibited from passing by or changing seats. The eating and drinking utensils must be sterilized, while the serving of food is prohibited from using a buffet. Last but not least, the wedding staffs are required to wear a mask, face shield and gloves.

One of the breakthrough in this trend was the make of  “Virtual Wedding” ever since June 2020. As this was the case held by The Sunan Hotel Solo, which offer a virtual wedding service package for 44.5 million. The event is only attended by the couple and their family members, meanwhile guests are able to attend the wedding virtually through various platforms such as Zoom, YouTube, Facebook and Instagram, while enjoying food sent by the hotel to their residences.

                                                                                                          Source: The Sunan Hotels Solo

Finally, we might conclude that the property business in Indonesia has the potential to develop more despite the massive impact it has taken from pandemic outburst. Combining the stakeholders effort and the government’s support to stimulate this sector are expected to help revive the business sector in the future.

 

References

Bank Indonesia. (2020). Perkembangan Properti Komersial (PPKOM).

Kementerian Pekerjaan Umum dan Perumahan Rakyat. (2020, November 3). Tingkatkan Kepemilikan Hunian Layak, Realisasi Program Sejuta Rumah Hingga Akhir Oktober 2020 Capai 601.637 Unit. Retrieved from https://www.pu.go.id/berita/view/18970/tingkatkan-kepemilikan-hunian-layak-realisasi-program-sejuta-rumah-hingga-akhir-oktober-2020-capai-601-637-unit

Kementerian Pekerjaan Umum dan Perumahan Rakyat . (2020, January 3). Capaian Pembangunan Rumah Tembus 1,25 Juta Unit. Retrieved from https://perumahan.pu.go.id/berita/view/227/capaian-pembangunan-rumah-tembus-1-25-juta-unit

Kompas. (2020, July 29). Alokasi Tambahan Rp 1,5 Triliun untuk Perumahan Terkait 3 Program. Retrieved from https://properti.kompas.com/read/2020/07/29/191334021/alokasi-tambahan-rp-15-triliun-untuk-perumahan-terkait-3-program?page=all

BUMN inc. (2020). Target Penyaluran KPR Bank BTN Naik Menjadi 300.000 Unit Per Tahun. Retrieved from http://bumninc.com/target-penyaluran-kpr-bank-btn-naik-menjadi-300-000-unit-per-tahun/?more=2

Posted on

Special economic zone (SEZ) / Kawasan ekonomi spesial (KEK) I Indonesia Research Institute Japan

How New Variants of Covid-19 in India Impact Indonesia’s Property Business
| Indonesia Research Institute Japan

“This post is written by Raffi Alfananda, Market Research & Business Development at PT Indonesia Research Institute Japan Jakarta, a global management consulting firm on business strategy.”

A geographical region with special economic norms that are more liberal than the current economic regulatory framework within a country is a Special Economic Zone (KEK). The Special Economic Zone is an area which in the geographic and jurisdictional sense is a free trade area, with duty-free facility and ease on the import, and open as wide as possible of capital goods for raw commodities partially exported. There are more specialized territory types including FTZs, export processing zones (EPZ), free zones (FZs), industry states (IE) and free ports etc. Special Economic Zones (KEK) have a more specialized territory type.

Since 2009, KEK has been established in Indonesia. The program was introduced as a form for developing different types of economic areas in previous periods. This program is probably a program for the regeneration and development of previous economic zoning programs, such as the Free Trade and Free Port program of 1970, the 1972 Development of the Bonded Zone and the 1989 Industrial Zone Continued and the 1996 Integrated Economic Development Zone (KAPET).

It was inspired by the success of several nations that previously adopted the system, such as China and India. The program was called the Special EconomicZone (KEK). In order to keep increasing economic growth in these areas, the success of the two countries successfully attracted investors and created jobs there.

Special economic zones (KEK) that are being built in Indonesia and other developing countries are not only bringing benefits. KEK can also harm the surrounding area due to externalities. Because of these losses, the government must be very careful in planning special economic areas. Here are some of the advantages and disadvantages of the Special Economic Zone (KEK) :

  • Advantages

 

  • Creating field of jobs 

Since there are very significant investment investments in special economic areas, economic growth in the region is generally very rapid. The Special Economic Area creates employment and the rapid economic growth of many new businesses and factories is marked by the emergence of their luck. Many new enterprises collapsed immediately due to inexperience or lack of investment, but few succeeded.

  • Boosting economic growth 

The creation of economic agglomeration and opening up of jobs will undoubtedly inspire regional economy passion. Improvement in productivity can occur as infrastructure, quality of life and quality of performance in the KEK area are improved. This growth in economic activity also led to an increase in regional economic income.

 

  • Improving the quality of regional infrastructure 

Local and central governments will be promoted to improve regional infrastructures, especially those supporting economic growth, to support increasing economic activity.

 

  • Boosting international trade 

The existence of special economic areas specifically targeted to serve the export market can increase trade between countries. Easier export-import regulation also contributes to trade growth by incentivizing companies operating in the area. Is the increase in trading a positive impact? It Depends on how we view the advantages and disadvantages of such trades

 

  • Disadvantages


  • Health threatening

People’s health is threatened by living in the region of special economic zones or industrial centers. Disposal of waste from production, fire and serious congestion vulnerability to diseases in the surrounding community. Respiratory conditions due to air pollution are a common condition. People living in the region of industrial estates have to wear masks for respiration.

For example, in India Many of its people suffer from digestive disorders since industrial activities and waste already pollute the main rivers heavily, and mental illness can happen if noise pollution and congestion become too tolerable. Noise pollution can affect sleep rhythms and human psychological conditions, and noise pollution may also lead to severe stress and depression, because of the difficulty of trying to have a quiet time and sleep.

 

  • Traffic 

Economic activity in a particularly active economic area definitely increases transport activities in the area. Not only companies operate in kek but all elements of the company around kek are aware of the influence of these traffic jams. The heavy traffic caused by KEK can therefore harm the surrounding community, even if it is not part of the KEK operation.

 

  • Environmental damage 

Over-exploitation of natural resources or overdeveloped economic activity can lead to pollution and loss of local biodiversity. For example, acid rain is caused by factories / plants that burn coal as their energy source. Therefore, when acid rain occurs, the impact is felt by both humans and animals and plants living nearby. Another example is smog that occurs due to pollution of particulate matter and toxic gases close to the ground level.

  • Changes in land function

Economic activity which rapidly grows will certainly boost the region’s economic rent so that land prices also rise.

This can lead to changes to industry and housing in the function of rice fields and agriculture. Moreover, land transfers often force small-scale farmers to sell their land because they lack incomes and pay taxes, or because developers are under severe pressure.

Indonesia Research Institute Japan offers all services from desk research, in-depth interview, feasibility studies  and market surveys for better understanding of any topic that your company is interested in. 

For More Information and Services, please contact us :

Consulting Services info :

Hotline:  +6285718923842

Email: contact@indonesiasoken.com

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Authored by : Fitri Aulia | 22 December 2020

Recent Property Development

The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses.

However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

 Government Stimulus

The assistance provided by the government is in the form of subsidies or incentives for interest subsidies to debtors of public housing credit (KPR), which is contained in the Minister of Finance Regulation (PMK) Number 138 / PMK.05 / 2020 and amendments to PMK 85 / PMK.05 / 2020 regarding the guidelines for providing interest subsidies in the effort to implement the National Economic Recovery program.

In early March 2020, the Government decided to increase the allocation of housing financing assistance by IDR 1.5 trillion for Low-Income Communities (MBR). This was stated by the Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Eko Djoeli Heripoerwanto in a webinar, Wednesday (29/7/2020).

In addition, the Government also has Bank BTN as their partner-collaboration to implement their OMH Program aimed at Low-Income Communities (MBR) with low interest rates and low installments for the purchase of a prosperous tread house and a welfare apartment.

Bank BTN noted, in 2015 they have provided housing financing assistance totaling 474,099 units. Then in 2016 as many as 595,540 units, in 2017 to 666,806 units, in 2018 to 755,093 units, and in 2019 to 735,749 units.

As of September 2020, BTN has provided home ownership credit support (KPR) of 93,448 units which cost as much as Rp. 15.6 trillion. These support provided by BTN is significant for the survival of the business property sector.

BTN commitment on supporting business property has not slackened. In fact, during the pandemic, BTN continuously provides support for the government program.The distribution of subsidized KPR is still a mainstay of BTN for the One Million Houses program.

 

Source : Bank BTN (visit : https://www.btn.co.id/id/Conventional/Product-Links/Produk-BTN/Kredit-Konsumer/Pinjaman-Bangunan/KPR-BTN-Subsidi)

Positive Trend in Q3  2020

There is a positive trend during Q3 2020 after it drastically dropped earlier in the year, indicates there is potential for the revival of Commercial Property Demand in Q4 2020 and the next Q1 2021.

Source : Bank Indonesia

Hotels and convention halls are two sectors whose demand has risen quite drastically in the Q3 after falling badly in the previous quarter. This demonstrates positive potential for its development in the future. Meanwhile, the demand of apartment remains low and still struggles to revive until now.

Growth of Commercial Property Demand in Jabodetabek

Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020.

In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

Source : Bank Indonesia

 Meanwhile, the growth in the total commercial property index jumped drastically in Bogor, Depok and Bekasi. Same case with Jakarta, its hotel sector are also the most prominent in reviving, at least in the Q3 2020.

Source : Bank Indonesia

As we can see on charts above, the hotel segment shows a great improvement in demand. This was driven by various kinds of promotions offered by hotels to adapt in this situation such as providing huge discount, staycation packages, working from hotels offer, and wedding reception packages.

Why Hotels?

As Indonesia gradually eases lockdown restrictions, the hotel occupancy rates across the country including Jakarta, have slowly started to pick up. However this is not without several efforts and sacrifices driven by people in the hotels sector to improve and revive the hospitality business sector in Indonesia.

To get through this hard times, efficiency and innovation are the main keys. Therefore, there are several trends created specifically to adapt to this era. Hotels competing with each other to offer a flood of discounts. To further intensify its sales strategy, there are several e-commerce platforms that is becoming a  great place to advertise rooms and staycation packages, such as Traveloka. The Buy Now Stay Later also sticks to this trend.

Hotels discounts on Traveloka (Source : Traveloka)

Another new trend is the Work From Hotel (WFH). As you might know, the abbreviation of WFH was initially stands for Work From Home. To connect the dots, Working From Hotel then exist and created because there are more and more office workers are getting bored with the atmosphere of their house and desperate to look for a new atmosphere. It’s a trend where hotels prepare rooms, complete with equipment and facilities to work (e.g : Wi-Fi , stationer, and free printing facilities,etc).

Source : Instagram @harrisfxsudirman and @arunasenggigi

During the transitional PSBB period, indoor wedding receptions are allowed to be held again after previously was banned temporarily due to the massive increase of the Covid-19 spread. This becomes the opportunity that triggers the revival for the hotel business.

However, this permission is also accompanied by the requirement to fulfill and comply with the health protocols made by the government. These includes the limitation of attendees to a maximum of 25 percent of normal capacity. Then, the seating distance for visitors is set at least 1.5 meters. Visitors are also prohibited from passing by or changing seats. The eating and drinking utensils must be sterilized, while the serving of food is prohibited from using a buffet. Last but not least, the wedding staffs are required to wear a mask, face shield and gloves.

One of the breakthrough in this trend was the make of  “Virtual Wedding” ever since June 2020. As this was the case held by The Sunan Hotel Solo, which offer a virtual wedding service package for 44.5 million. The event is only attended by the couple and their family members, meanwhile guests are able to attend the wedding virtually through various platforms such as Zoom, YouTube, Facebook and Instagram, while enjoying food sent by the hotel to their residences.

                                                                                                          Source: The Sunan Hotels Solo

Finally, we might conclude that the property business in Indonesia has the potential to develop more despite the massive impact it has taken from pandemic outburst. Combining the stakeholders effort and the government’s support to stimulate this sector are expected to help revive the business sector in the future.

 

References

Bank Indonesia. (2020). Perkembangan Properti Komersial (PPKOM).

Kementerian Pekerjaan Umum dan Perumahan Rakyat. (2020, November 3). Tingkatkan Kepemilikan Hunian Layak, Realisasi Program Sejuta Rumah Hingga Akhir Oktober 2020 Capai 601.637 Unit. Retrieved from https://www.pu.go.id/berita/view/18970/tingkatkan-kepemilikan-hunian-layak-realisasi-program-sejuta-rumah-hingga-akhir-oktober-2020-capai-601-637-unit

Kementerian Pekerjaan Umum dan Perumahan Rakyat . (2020, January 3). Capaian Pembangunan Rumah Tembus 1,25 Juta Unit. Retrieved from https://perumahan.pu.go.id/berita/view/227/capaian-pembangunan-rumah-tembus-1-25-juta-unit

Kompas. (2020, July 29). Alokasi Tambahan Rp 1,5 Triliun untuk Perumahan Terkait 3 Program. Retrieved from https://properti.kompas.com/read/2020/07/29/191334021/alokasi-tambahan-rp-15-triliun-untuk-perumahan-terkait-3-program?page=all

BUMN inc. (2020). Target Penyaluran KPR Bank BTN Naik Menjadi 300.000 Unit Per Tahun. Retrieved from http://bumninc.com/target-penyaluran-kpr-bank-btn-naik-menjadi-300-000-unit-per-tahun/?more=2

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How New Variants of Covid-19 in India Impact Indonesia’s Property Business I Indonesia Research Institute Japan

How New Variants of Covid-19 in India Impact Indonesia’s Property Business
| Indonesia Research Institute Japan

“This post is written by Moh Mahrus Ali, Market Research & Business Development at PT Indonesia Research Institute Japan Jakarta, a global management consulting firm on business strategy”

In March, a new variant of the corona virus with multiple mutations was found from a number of samples collected in India. The dual mutation of the corona virus is said to be the source of the Covid-19 surge in India, and made a number of countries begin to restrict transportation to and from India, including Indonesia. The variant, later called B.1.617, the average prevalence of the variant jumped to 52 percent of the sample sequenced in April, from almost none in January. The spread of this new virus variant in India paralyzed all economic activity in India, even the drastic increase in the number of new Coronavirus cases in India in 2021, could adversely affect the demand for residential real estate in India, which was just beginning to show signs of recovery.

In Indonesia itself, Minister of Health (Menkes) Budi Gunadi Sadikin revealed that there were 10 Indonesians who were exposed to the Covid-19 Indian variant. Nevertheless, Minister of Health Budi Gunadi did not specifically mention what variants were there. Then, will the mutation of the Indian corona virus also have an impact on Indonesia’s property business? This article will discuss trends in the property business in Indonesia related to the new variant of Covid-19 India.

Actually, The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses. However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020. In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

The condition of the Indonesian property sector in Q3 2020 did show a significant increase, but there was a decline in demand for commercial property in Q4 2020 according to a Bank Indonesia report. Demand for Commercial Property in Q4 2020 in Indonesia, especially Jabodetabek experienced a contraction of -0.05% (yoy), down from 0.05% (yoy) in Q3 2020 and 0.52% (yoy) in Q4 2019. In contrast to the annual growth, on a quarterly basis the demand for commercial property is still relatively stable, namely in Q4 2020 it grew 0.03%, relatively stable compared to 0.01% (qoq) in Q3 2020.

The decline in the annual commercial property demand index is mainly due to demand in the rental category, which is still experiencing contraction, mainly due to the decrease in demand for rental offices and retail leases in line with the implementation of Working From Home (WFH) and the operating hours of shopping centers are still not normal due to the enactment. Restrictions on Micro Community Activities during Q4 2020. However, the demand for the hotel and rental apartment segment shows improvement although it is still contracting in line with the use of hotels for self-isolation and the start of tourism activities, although very limited. This condition of decline is predicted to continue because with the presence of a new variant of Covid-19 originating from India and the start of the population being exposed to this variant, the Indonesian government will certainly take firm action to reduce the spread of this virus. One of them is by continuing to extend the Enforcement of Restrictions on Micro Community Activities, with this policy, Indonesia’s property business will continue to decline

Promising Property Prospects in Bekasi

Bekasi, which is often dubbed the ‘planet city’ due to its congestion level, has a promising property prospect. At least this is evidenced by the rapid development of new housing projects from local and foreign developers. Not surprisingly, owning a house in Bekasi is an alternative option for workers who want a house that is affordable but close to Jakarta.

The trend of the Property Price Index in Bekasi in the third quarter (Q3) of 2020 reached 119.6, which was the highest achievement for the past three years. The dynamics of the property market in Bekasi are very dynamic, where during the pandemic which lasted from the end of March to June, the market experienced no turmoil compared to when Covid-19 had not yet entered the country. In the second quarter (Q2) 2020, the Bekasi price index was at the index figure of 117.2 or slightly up by 0.56% from the index in the first quarter (Q1) which was 116.5. Although the increase was not much, it should be remembered that in Q2 2020 most of the large property supply areas were experiencing a decline in their price index.

This shows that Bekasi is able to maintain stability in the property sector including the purchasing power of the people in the midst of uncertain situations. Several other buffer areas experienced price corrections in Q2 2020 due to the Covid-19 pandemic. On the other hand, the property search index in Bekasi until Q3 2020 rose by a quarterly 115% (QoQ) and annually rose quite high by 266% (YoY). In terms of the price index trend, the Bekasi region also performed quite positively with increases both quarterly and annually.

Considering all the potential that exists, it is only natural that Bekasi continues to be hunted by the community when looking for an ideal place to live. This opportunity has also been responded to by a number of developers who do not want to lose the opportunity, by continuing to develop residential projects according to the tastes of the formed market. Regarding the latest progress, if in recent times the residential market in the West Bekasi area has continued to show a positive trend, now its growth has shifted to the east side. In the future, East Bekasi is predicted to be the entrance for suburban people to Jakarta following the ongoing infrastructure development. Starting from mass transportation facilities such as the LRT, Becakayu Toll Road, to the Jakarta – Cikampek Elevated Toll Road.

This prospect of the property business in Bekasi is a business opportunity that cannot be wasted. Investing in this property sector will greatly help people of all groups to get a decent property. We, Indonesia Research Institute will help investors to conduct further research on this business opportunity. Indonesia Research Institute Japan offers all services from desk research, in-depth interviews, to market surveys for a better understanding of the topic that wants to be understood on how property business works. As one of our work areas. We, the Indonesia Research Institute Japan, will continue to provide information related to the development of the Indonesian property business using various research methods.

For More Information and Services, please contact us :

Consulting Services info :

Hotline :  +6285718923842

Email : contact@indonesiasoken.com

Thank you very much.

References

Bank Indonesia. (2020). Commercial Property Development. Jakarta: Bank Indonesia. Retrieved May 11, 2021, from https://www.bi.go.id/id/publikasi/laporan/Pages/PPKom_Triwulan_IV_2020.aspx

Indonesia Property Expo. (2021, February 16). News. Retrieved May 12, 2021, from Indonesiapropertiexpo.com: https://www.indonesiapropertiexpo.com/news/inilah-5-daftar-proyek-rumah-murah-di-bekasi

Kompas.com. (2021, April 26). Science. Retrieved May 11, 2021, from Kompas.com: https://www.kompas.com/sains/read/2021/04/26/182900223/10-orang-indonesia-terinfeksi-varian-covid-19-india-ini-5-fakta-mutasi?page=all

Mishra, S. (2021, April 16). Coronavirus. Retrieved May 11, 2021, from Housing.com: https://housing.com/news/impact-of-coronavirus-on-indian-real-estate/

Rumah.com. (2021, April 5). Property News. Retrieved May 12, 2021, from Rumah.com: https://www.rumah.com/berita-properti/2021/4/197723/bekasi-terus-diburu-pengembang-kejar-target

Download English & Japanese Version Here




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Authored by : Fitri Aulia | 22 December 2020

Recent Property Development

The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses.

However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

 Government Stimulus

The assistance provided by the government is in the form of subsidies or incentives for interest subsidies to debtors of public housing credit (KPR), which is contained in the Minister of Finance Regulation (PMK) Number 138 / PMK.05 / 2020 and amendments to PMK 85 / PMK.05 / 2020 regarding the guidelines for providing interest subsidies in the effort to implement the National Economic Recovery program.

In early March 2020, the Government decided to increase the allocation of housing financing assistance by IDR 1.5 trillion for Low-Income Communities (MBR). This was stated by the Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Eko Djoeli Heripoerwanto in a webinar, Wednesday (29/7/2020).

In addition, the Government also has Bank BTN as their partner-collaboration to implement their OMH Program aimed at Low-Income Communities (MBR) with low interest rates and low installments for the purchase of a prosperous tread house and a welfare apartment.

Bank BTN noted, in 2015 they have provided housing financing assistance totaling 474,099 units. Then in 2016 as many as 595,540 units, in 2017 to 666,806 units, in 2018 to 755,093 units, and in 2019 to 735,749 units.

As of September 2020, BTN has provided home ownership credit support (KPR) of 93,448 units which cost as much as Rp. 15.6 trillion. These support provided by BTN is significant for the survival of the business property sector.

BTN commitment on supporting business property has not slackened. In fact, during the pandemic, BTN continuously provides support for the government program.The distribution of subsidized KPR is still a mainstay of BTN for the One Million Houses program.

 

Source : Bank BTN (visit : https://www.btn.co.id/id/Conventional/Product-Links/Produk-BTN/Kredit-Konsumer/Pinjaman-Bangunan/KPR-BTN-Subsidi)

Positive Trend in Q3  2020

There is a positive trend during Q3 2020 after it drastically dropped earlier in the year, indicates there is potential for the revival of Commercial Property Demand in Q4 2020 and the next Q1 2021.

Source : Bank Indonesia

Hotels and convention halls are two sectors whose demand has risen quite drastically in the Q3 after falling badly in the previous quarter. This demonstrates positive potential for its development in the future. Meanwhile, the demand of apartment remains low and still struggles to revive until now.

Growth of Commercial Property Demand in Jabodetabek

Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020.

In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

Source : Bank Indonesia

 Meanwhile, the growth in the total commercial property index jumped drastically in Bogor, Depok and Bekasi. Same case with Jakarta, its hotel sector are also the most prominent in reviving, at least in the Q3 2020.

Source : Bank Indonesia

As we can see on charts above, the hotel segment shows a great improvement in demand. This was driven by various kinds of promotions offered by hotels to adapt in this situation such as providing huge discount, staycation packages, working from hotels offer, and wedding reception packages.

Why Hotels?

As Indonesia gradually eases lockdown restrictions, the hotel occupancy rates across the country including Jakarta, have slowly started to pick up. However this is not without several efforts and sacrifices driven by people in the hotels sector to improve and revive the hospitality business sector in Indonesia.

To get through this hard times, efficiency and innovation are the main keys. Therefore, there are several trends created specifically to adapt to this era. Hotels competing with each other to offer a flood of discounts. To further intensify its sales strategy, there are several e-commerce platforms that is becoming a  great place to advertise rooms and staycation packages, such as Traveloka. The Buy Now Stay Later also sticks to this trend.

Hotels discounts on Traveloka (Source : Traveloka)

Another new trend is the Work From Hotel (WFH). As you might know, the abbreviation of WFH was initially stands for Work From Home. To connect the dots, Working From Hotel then exist and created because there are more and more office workers are getting bored with the atmosphere of their house and desperate to look for a new atmosphere. It’s a trend where hotels prepare rooms, complete with equipment and facilities to work (e.g : Wi-Fi , stationer, and free printing facilities,etc).

Source : Instagram @harrisfxsudirman and @arunasenggigi

During the transitional PSBB period, indoor wedding receptions are allowed to be held again after previously was banned temporarily due to the massive increase of the Covid-19 spread. This becomes the opportunity that triggers the revival for the hotel business.

However, this permission is also accompanied by the requirement to fulfill and comply with the health protocols made by the government. These includes the limitation of attendees to a maximum of 25 percent of normal capacity. Then, the seating distance for visitors is set at least 1.5 meters. Visitors are also prohibited from passing by or changing seats. The eating and drinking utensils must be sterilized, while the serving of food is prohibited from using a buffet. Last but not least, the wedding staffs are required to wear a mask, face shield and gloves.

One of the breakthrough in this trend was the make of  “Virtual Wedding” ever since June 2020. As this was the case held by The Sunan Hotel Solo, which offer a virtual wedding service package for 44.5 million. The event is only attended by the couple and their family members, meanwhile guests are able to attend the wedding virtually through various platforms such as Zoom, YouTube, Facebook and Instagram, while enjoying food sent by the hotel to their residences.

                                                                                                          Source: The Sunan Hotels Solo

Finally, we might conclude that the property business in Indonesia has the potential to develop more despite the massive impact it has taken from pandemic outburst. Combining the stakeholders effort and the government’s support to stimulate this sector are expected to help revive the business sector in the future.

 

References

Bank Indonesia. (2020). Perkembangan Properti Komersial (PPKOM).

Kementerian Pekerjaan Umum dan Perumahan Rakyat. (2020, November 3). Tingkatkan Kepemilikan Hunian Layak, Realisasi Program Sejuta Rumah Hingga Akhir Oktober 2020 Capai 601.637 Unit. Retrieved from https://www.pu.go.id/berita/view/18970/tingkatkan-kepemilikan-hunian-layak-realisasi-program-sejuta-rumah-hingga-akhir-oktober-2020-capai-601-637-unit

Kementerian Pekerjaan Umum dan Perumahan Rakyat . (2020, January 3). Capaian Pembangunan Rumah Tembus 1,25 Juta Unit. Retrieved from https://perumahan.pu.go.id/berita/view/227/capaian-pembangunan-rumah-tembus-1-25-juta-unit

Kompas. (2020, July 29). Alokasi Tambahan Rp 1,5 Triliun untuk Perumahan Terkait 3 Program. Retrieved from https://properti.kompas.com/read/2020/07/29/191334021/alokasi-tambahan-rp-15-triliun-untuk-perumahan-terkait-3-program?page=all

BUMN inc. (2020). Target Penyaluran KPR Bank BTN Naik Menjadi 300.000 Unit Per Tahun. Retrieved from http://bumninc.com/target-penyaluran-kpr-bank-btn-naik-menjadi-300-000-unit-per-tahun/?more=2

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The Prospect of Mass Rapid Transit in Jakarta I Indonesia Research Institute Japan

The Prospect of Mass Rapid Transit in Jakarta | Indonesia Research Institute Japan

“This post is written by Muhammad Ariq Aswata, Market Research & Business Development at PT Indonesia Research Institute Japan Jakarta, a global management consulting firm on business strategy.”

In 2013 Joko Widodo as governor of Jakarta at that time put the first milestone marking the first phase of the Jakarta Mass Rapid Transit (MRT) train project. The first phase of the project is a 16-kilometer railway line that includes 10 kilometers of elevated lines and 6 kilometers of underground lines. With seven elevated stations (Lebak Bulus (Depo), Fatmawati, Cipete Raya, Haji Nawi, Blok A, Blok M, and Sisingamangaraja) and six underground stations (Senayan, Istora, Bendungan Hilir, Setiabudi, Dukuh Atas, and Bundaran Hotel Indonesia). This phase was completed in march 2019, and in 2020 continued with phase 2 of the project. This second phase will stretch around the 11.8-kilometer railway line from Bundaran Hotel Indonesia to Ancol. Also, in this phase PT MRT Jakarta decided to split the second phase into phase 2A (Bundaran HI – Kota) and 2B (Kota – Ancol). Phase 2A will contain seven underground stations (Thamrin, Monas, Harmoni, Sawah Besar, Mangga Besar, Glodok, and Kota) and 5.8 Km of railway line. Phase 2B will contain two underground stations (Mangga Dua and Ancol) and one depo station in West Ancol, this phase also contains 6 Km of railway line. And the projects are targeted to be finished before 2030.

According to MRT Jakarta President Director, William Sabandar, Jakarta MRT will help to solve the congestion problems in Jakarta. MRT will also increase citizens mobility which encourages increased productivity due to decreased travel time for citizens. He stated that using MRT will reduce Lebak bulus- Kota travel time from 2.30 hour to 45 minutes.

MRT will also help the reduction of carbon gas emissions in Jakarta, which contributes to environmental preservation. With the MRT, there is a decrease in emissions of 2.77 million tons of CO2 per year. This number is equal to 3.8 percent of the total emission reduction target (26 percent) in the energy and transportation sector in Indonesia.

MRT construction is also able to absorb a huge number of workforces. For the 2A phase, with a project value of IDR 1.55 trillion, the workforce absorbed reaches 356 people. Furthermore, for the 2B, with a project value of IDR 3.59 trillion, the workforce absorbed will reach 1,259 people. MRT is also able to increase economic growth. this occurs as a positive impact from the presence of TOD (Transit Oriented Development) around the MRT

Indonesia Research Institute Japan offers all services from desk research, in-depth interviews, to market surveys for a better understanding of the topic that wants to be understood on how this business works.

For More Information and Services, please contact us :

Consulting Services info :

Hotline :  +6285718923842

Email : contact@indonesiasoken.com

References

Jakarta, M. (n.d.). Fase 1. Retrieved from mrt Jakarta: https://jakartamrt.co.id/id/proyek/fase-1

Jakarta, M. (n.d.). fase 2. Retrieved from mrt Jakarta: https://jakartamrt.co.id/id/proyek/fase-2

Sabur, S. (2020, Agustus 12). Mengapa MRT Penting untuk Jakarta? Retrieved from Medco.id: https://www.medcom.id/ekonomi/bisnis/RkjBY0Ek-mengapa-mrt-penting-untuk-jakarta

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Authored by : Fitri Aulia | 22 December 2020

Recent Property Development

The Covid-19 pandemic has dealt a quite severe blow to the property business sector in 2020. During the PSBB period, business activities were very sluggish and it can be said that some business actors suffered severe losses.

However, entering the new normal period, the economic activity in several sectors including property has begun to revive from the previous period. The role of the government triggers the revival of Indonesia’s property business activities.

 Government Stimulus

The assistance provided by the government is in the form of subsidies or incentives for interest subsidies to debtors of public housing credit (KPR), which is contained in the Minister of Finance Regulation (PMK) Number 138 / PMK.05 / 2020 and amendments to PMK 85 / PMK.05 / 2020 regarding the guidelines for providing interest subsidies in the effort to implement the National Economic Recovery program.

In early March 2020, the Government decided to increase the allocation of housing financing assistance by IDR 1.5 trillion for Low-Income Communities (MBR). This was stated by the Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Eko Djoeli Heripoerwanto in a webinar, Wednesday (29/7/2020).

In addition, the Government also has Bank BTN as their partner-collaboration to implement their OMH Program aimed at Low-Income Communities (MBR) with low interest rates and low installments for the purchase of a prosperous tread house and a welfare apartment.

Bank BTN noted, in 2015 they have provided housing financing assistance totaling 474,099 units. Then in 2016 as many as 595,540 units, in 2017 to 666,806 units, in 2018 to 755,093 units, and in 2019 to 735,749 units.

As of September 2020, BTN has provided home ownership credit support (KPR) of 93,448 units which cost as much as Rp. 15.6 trillion. These support provided by BTN is significant for the survival of the business property sector.

BTN commitment on supporting business property has not slackened. In fact, during the pandemic, BTN continuously provides support for the government program.The distribution of subsidized KPR is still a mainstay of BTN for the One Million Houses program.

 

Source : Bank BTN (visit : https://www.btn.co.id/id/Conventional/Product-Links/Produk-BTN/Kredit-Konsumer/Pinjaman-Bangunan/KPR-BTN-Subsidi)

Positive Trend in Q3  2020

There is a positive trend during Q3 2020 after it drastically dropped earlier in the year, indicates there is potential for the revival of Commercial Property Demand in Q4 2020 and the next Q1 2021.

Source : Bank Indonesia

Hotels and convention halls are two sectors whose demand has risen quite drastically in the Q3 after falling badly in the previous quarter. This demonstrates positive potential for its development in the future. Meanwhile, the demand of apartment remains low and still struggles to revive until now.

Growth of Commercial Property Demand in Jabodetabek

Overall in Jabodetabek, the commercial property sector also experienced a positive increase during Q3 2020.

In Jakarta, all commercial property demands show positivism with hotels being the most prominent in their development at Q3 2020. After previously shows a negative number, the total index in Q3 has at least increased to be positive.

Source : Bank Indonesia

 Meanwhile, the growth in the total commercial property index jumped drastically in Bogor, Depok and Bekasi. Same case with Jakarta, its hotel sector are also the most prominent in reviving, at least in the Q3 2020.

Source : Bank Indonesia

As we can see on charts above, the hotel segment shows a great improvement in demand. This was driven by various kinds of promotions offered by hotels to adapt in this situation such as providing huge discount, staycation packages, working from hotels offer, and wedding reception packages.

Why Hotels?

As Indonesia gradually eases lockdown restrictions, the hotel occupancy rates across the country including Jakarta, have slowly started to pick up. However this is not without several efforts and sacrifices driven by people in the hotels sector to improve and revive the hospitality business sector in Indonesia.

To get through this hard times, efficiency and innovation are the main keys. Therefore, there are several trends created specifically to adapt to this era. Hotels competing with each other to offer a flood of discounts. To further intensify its sales strategy, there are several e-commerce platforms that is becoming a  great place to advertise rooms and staycation packages, such as Traveloka. The Buy Now Stay Later also sticks to this trend.

Hotels discounts on Traveloka (Source : Traveloka)

Another new trend is the Work From Hotel (WFH). As you might know, the abbreviation of WFH was initially stands for Work From Home. To connect the dots, Working From Hotel then exist and created because there are more and more office workers are getting bored with the atmosphere of their house and desperate to look for a new atmosphere. It’s a trend where hotels prepare rooms, complete with equipment and facilities to work (e.g : Wi-Fi , stationer, and free printing facilities,etc).

Source : Instagram @harrisfxsudirman and @arunasenggigi

During the transitional PSBB period, indoor wedding receptions are allowed to be held again after previously was banned temporarily due to the massive increase of the Covid-19 spread. This becomes the opportunity that triggers the revival for the hotel business.

However, this permission is also accompanied by the requirement to fulfill and comply with the health protocols made by the government. These includes the limitation of attendees to a maximum of 25 percent of normal capacity. Then, the seating distance for visitors is set at least 1.5 meters. Visitors are also prohibited from passing by or changing seats. The eating and drinking utensils must be sterilized, while the serving of food is prohibited from using a buffet. Last but not least, the wedding staffs are required to wear a mask, face shield and gloves.

One of the breakthrough in this trend was the make of  “Virtual Wedding” ever since June 2020. As this was the case held by The Sunan Hotel Solo, which offer a virtual wedding service package for 44.5 million. The event is only attended by the couple and their family members, meanwhile guests are able to attend the wedding virtually through various platforms such as Zoom, YouTube, Facebook and Instagram, while enjoying food sent by the hotel to their residences.

                                                                                                          Source: The Sunan Hotels Solo

Finally, we might conclude that the property business in Indonesia has the potential to develop more despite the massive impact it has taken from pandemic outburst. Combining the stakeholders effort and the government’s support to stimulate this sector are expected to help revive the business sector in the future.

 

References

Bank Indonesia. (2020). Perkembangan Properti Komersial (PPKOM).

Kementerian Pekerjaan Umum dan Perumahan Rakyat. (2020, November 3). Tingkatkan Kepemilikan Hunian Layak, Realisasi Program Sejuta Rumah Hingga Akhir Oktober 2020 Capai 601.637 Unit. Retrieved from https://www.pu.go.id/berita/view/18970/tingkatkan-kepemilikan-hunian-layak-realisasi-program-sejuta-rumah-hingga-akhir-oktober-2020-capai-601-637-unit

Kementerian Pekerjaan Umum dan Perumahan Rakyat . (2020, January 3). Capaian Pembangunan Rumah Tembus 1,25 Juta Unit. Retrieved from https://perumahan.pu.go.id/berita/view/227/capaian-pembangunan-rumah-tembus-1-25-juta-unit

Kompas. (2020, July 29). Alokasi Tambahan Rp 1,5 Triliun untuk Perumahan Terkait 3 Program. Retrieved from https://properti.kompas.com/read/2020/07/29/191334021/alokasi-tambahan-rp-15-triliun-untuk-perumahan-terkait-3-program?page=all

BUMN inc. (2020). Target Penyaluran KPR Bank BTN Naik Menjadi 300.000 Unit Per Tahun. Retrieved from http://bumninc.com/target-penyaluran-kpr-bank-btn-naik-menjadi-300-000-unit-per-tahun/?more=2