REPUBLIKA.CO.ID, SEMARANG -- Central Java's branch of the Indonesian Association of real estate companies (REI) predicted sales of houses in the country would decline 10-15 percent ahead of the Islamic Idul Fitri Day celebrations.

"It is normal ahead Idul Fitri. Generally middle income families would spend their money mainly for the Idul Fitri festivities," spokesman of the Central Java REI Juremi said here on Tuesday.

Decline is expected in the sales of all types of houses - low cost houses and luxury houses, he said.

"Developers could not do much to change the condition which has been the annual trend. We have launched a series of sales promotions but the result is not significant," he added.

Juremi said normally sales fell twice a year - ahead of Idul Fitri and the start of academic year.

"This year we are lucky that the slump in sales might be only once as Idul Fitri and the start academic year come almost at the same time," he said.

Sales would be normal again in 1-2 months after Idul Fitri, he said.

Ikuti Whatsapp Channel Republika