JAKARTA, Feb. 12 (Xinhua) -- Indonesian capital city of Jakarta is estimated to become an ultimate property market in Asia due to robust housing, apartment demands and economic policies that apparently effective in curbing inflation, a prominent property expert said here on Tuesday.
"Jakarta will be a prime destination of property business in Asia," Andy Roberts, general manager of a property broker firm Rumah123.com said, citing to the results of 2012 property surveys in Asia exposed to the media here.
Due to the government's orchestrated policies to keep inflation at low level, Jakarta becomes a competitive place to invest in property business if compared to other Asian major cities like Shanghai, Kuala Lumpur, Singapore and Sydney in Australia.
"Development of property market in Indonesia has been essentially backed up by the low inflation rate," Andy said, adding that Indonesia recorded inflation rate below 5 percent in the last 17 months.
He said that such a level is regarded as a good indicator for the future of property business in the country. "We are convinced that Indonesian property business will continue to robust in the future," he said as quoted by the Antara news agency.
According to results of a property survey conducted by property consultant Colliers International, Indonesian condominium market grew significantly in the first three quarters last year.
Results of another survey conducted by a credible firm in property business, Jones Lang La Salle, said that Jakarta will see 27,130 new condominiums from 2013 to 2016 in which 61.4 percent of those condominiums have been sold out.
Meanwhile, results of property researches conducted by U.S.- based PriceWaterhouseCoopers (PWC) and Urban Land Institute said that Jakarta would be the best real estate market in Asia this year.