REPUBLIKA.CO.ID, JAKARTA - Floods may drag down real-estates prices in the flood prone areas in Jakarta. According to Chairman of Indonesian Housing and Settlement Developer Association (APERSI), Eddy Ganefo, said floods influenced the values of property in such area.
"Floods affect property market in Jakarta, Bogor, Tangerang, and Bekasi," he said on Monday. It's not yet clear what the total cost of the damage caused by flood.
On contrary, a property analyst, Ali Tranghanda, said that flood did not influence the property price in prestigious areas, such as Kelapa Gading and Pluit. "They usualy have more than one house, so this does not impact them" he said.
He cited that after Kelapa Gading flooded in 2007, the property price in the are was predicted to fall by 20 percent. Surprisingly the prediction was wrong as the property owners decided not to sell their houses.
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