“Will the impact of global crisis will happen again like when the monetary crisis destroying the Indonesian economy?” Maybe the question is often thrown by the developer when the property business in this country into a business that is most promising. When the construction of apartments and shopping centers have spread throughout the city.
In a global crisis that is going on, business buying and selling property in Indonesia, including immune from economic disease that is frightening for many countries. Compared to other countries such as Singapore and China, Indonesia is still relatively closed to foreign investors.
Now also at discerning consumers developers who are credible and proven escape from crisis. They also bought property in accordance with the needs and economic capabilities.
Before construction begins the property, do the advance preparation activity. Includes site selection and project feasibility. These have some important points that determine the success of a business property:
Election Places
Is a main job description for the developers to find a suitable site for the project to be built such as office buildings, hotels, housing or shops. Some specific criteria are always taken into consideration in selecting the location is:
• Legal. Does the area have a permit to build the desired building. For example: whether the area should be used for shopping centers or only intended for shelter, parking area, and others.
• Services and facilities. How to use water, electricity, and others are easily available? Is all of that can support for facilities to be provided developers to consumers? Consumers tend to prefer the use of these facilities are easily obtained without having to spend extra costs, especially for property that is used as a residence. This is the most important consideration. If the building will be used as a place to stay then to think about whether or not strategic location with toll roads, markets, access to public transportation, and other related public facilities. For example, swimming pool, supermarkets, fast access to the toll road.
• The view of what can be presented in the vicinity of the building. The existence of a good scenery to attract the market to buy. For example, the apartment is surrounded by a sea that can be seen directly from your room window. Things like this including the selling price determining factor for developers.
• Cash Flow. In what segments of society being the developer’s target. Note the cost estimate is used. Determine whether the selling price will be in accordance with the intended market segment, will be reached by the tenants or the general public later.
Feasibility Test
Conducting feasibility test in question is a serious observation in depth whether the project is technically possible, marketing, and market economy.
• Make sure it gets permission from local government. This is sometimes neglected to do and cause adverse effects in the future.
• Analysis of market demand. Thus, developers can find out what the consumer wants and needs of the property to be built.
• Provide an alternative design for comparison.
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