Residents are increasingly interested in housing within transit-oriented development (TOD) areas due to the increasing demand for convenience and connectivity. Property consultants report that apartments near TOD points are more desirable than those in areas not near transit points. This is due to the expansion of public transit facilities, such as the Greater Jakarta LRT and Jakarta-Bandung high-speed railway. However, if public transit development is hampered or unclear, end-users may reconsider choosing properties in TOD areas. The Jakarta Property Institute (JPI) has identified TOD apartments as a popular urban development strategy to integrate transit functions with activities, buildings, and public spaces. The millennial generation is particularly drawn to apartments near public transit hubs, with 54% of respondents aged 19–29 choosing downtown apartments for their strategic location, lower transportation costs, and commutes. However, the challenge lies in the scarcity of middle-income apartments and the mismatch between the supply of apartments and the capacity of middle-income earners to actively engage in the property market. Apartment sales have remained stagnant since the 2019 pre-pandemic level, with lower-middle-class projects dominating overall transactions. The current quarter saw the highest occupancy rate since the pandemic, at 57.8%.Link di fonte: https://www.thejakartapost.com/business/2023/07/31/construction-delay-affordability-issues-jeopardize-tod-pickup.html (ICE GIACARTA)

Fonte notizia: The Jakarta Post - 1 August 2023