Recession: it's the talk of the town! While we see the ongoing news about the recession, our mind goes into warp speed and asks: "will Indonesia go into recession?"
No need to worry! Because on November 7th, 2022, the Central Agency of Statistics announced the third quarter economic growth of Indonesia. The agency noted that Indonesia's economic growth has reached 5.72%, a growth of 1.81% than last year's third quarter. The head of the agency, Margo Yuwono, stated that Indonesia's economy grew 5.4% cumulatively from the first to the third quarter of 2022, this can be seen from the recovery of the people's day-to-day mobility.
"Indonesia's economy has persistently grown above 5% since the fourth quarter of 2021. This indicates that the economic recovery continues and is getting stronger" Margo said
The growth is based on Indonesia's latest GDP, with the current prices at IDR 5.901,2 trillion and the constant prices at IDR 2.976,8 trillion. The figures recorded by the agency are clearly above the predictions of international economic institutions, which were only predicting a 1.66% growth on a quarter-to-quarter basis.
Diving further into the report, it's that the economic growth is still centered on the island of Java which contributed 56.3% of Indonesia's economic growth, with a 1.65% contribution from Jakarta.
This trend is a good achievement for the Indonesian people amidst the uncertain global economic condition. Certainly, a breath of fresh air for the Indonesian real estate market, especially in downtown Jakarta, where the neighborhoods are popular among the upper class and ex-pats from around the world looking to expand their businesses in Jakarta. Such as Menteng, the classy and "old money" neighborhood, and the site of countless villas, colonial-era buildings with amazing histories, nations' embassies, and commercially strategic spots for businesses.
The fact that Menteng is located at the heart of Central Jakarta further adds to its appeal and exclusiveness, making it one of the city's prestigious zip codes. With Indonesia's economic growth, this should be the perfect time to invest in real estate in Menteng.
A classy and lavish neighborhood that differs from any other address in Jakarta. It's definitely not your typical neighborhood. Want to join the exclusiveness of Menteng? We at Ray White Menteng are always ready to help and serve you for your property needs of Menteng. We're not just selling properties; we're also selling the best experience and services only for you.
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