BANDUNG – COVID-19 pandemic situation, which is still exists until now, raises a very pronounced challenge for all business lines, including the country's property industry which has experienced a shrinking demand. Based on a survey by Bank Indonesia (BI), the level of residential property sales has decreased quite sharply at -43.19% year on year (y-o-y) until Q1 2020.
The challenges faced by property sector entrepreneurs are one of the issues discussed in a Webinar "Reorganizing the Property Business Post-COVID-19 Pandemic" held by Regional Management Council (DPD) of Indonesian Real Estate Companies (REI) West Java on Tuesday ( 11/8/2020).
The webinar was attended by General Chairperson of REI Central Executive Board (DPP) Paulus Totok Lusida, Head of West Java REI DPD Joko Suranto, Director of Consumer & Retail bank bjb Suartini, Head of Division of Housing Loan (KPR) and Motor Vehicles Loan Financing (KKB) bank bjb Yusuf Saadudin, Head of BI Jabar Herawanto Representative Office (KPw), Head of West Java Regional Financial Services Authority (OJK) Office Triana Gunawan, as well as REI members in all over Indonesia.
Director of Consumer & Retail bank bjb Suartini said the impact of challenges from COVID-19 that faced by the property sector was also felt by bank bjb, especially in terms of mortgage disbursement, however bank bjb always seek opportunities for property credit distribution, especially in West Java which is expected to soon indicate a positive trend in line with efforts to stimulate the economy through various national economic recovery agendas (PEN).
"Almost all industrial lines are under pressure in the current extraordinary pandemic outbreak. However, efforts to seek and explore opportunities must be continued, especially during the New Normal Period Adaptation (AKB) which allows for returning theregular economic activity," said Suartini.
Along with the gradual normalization of economic activity, this will also affect the strengthening of people's purchasing power which decreased during the pandemic. Moreover, the government has also stepped in to provide various stimulations to stimulate the economy. Therefore, optimism for business resurrection will automatically increase, including entrepreneurs who have been accepting requests for residential property.
To strengthen the funding before the wave of demand arrives, bank bjb persuade REI developer members who have not collaborated with bank bjb, especially subsidized housing, to benefits from bank facilities owned by the company. Moreover, bank bjb is persevering in channeling financing to meet the needs of bjb KPR Sejahtera Housing Financing Liquidity Facility (FLPP) for Low-Income Communities (MBR). Since in 2020 bank bjb received a FLPP quota which increased by 300% from the previous year.
"We have a strong commitment to meet the financing needs for public housing. We are also committed to REI members to provide excellent service in bjb KPR distribution while the developer also ensures that the requirements and documents are valid, such as KTP data, NPWP, the data that must be inputted in KPR Subsidized Housing Information System (SiKasep)," said Head of Corporate Secretary Division bank bjb Widi Hartoto in separate location.
It is expected that this invitation will receive a positive response to facilitate the steps of each party in providing adequate housing for residents. The synergy between industry players is also crucial to facilitate business steps, especially in welcoming the opportunities in front of their eyes.
DIVISI CORPORATE SECRETARY